Tide

Tide is a business account built for sole traders and small businesses, with a genuinely usable free tier that includes invoicing, receipt capture and free HMRC-recognised Making Tax Digital tools. Paid plans start from £12.49 a month.

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At a glance

Tide isn’t a bank itself - it’s an e-money institution, though newer accounts are issued via ClearBank, a licensed UK bank, giving eligible balances FSCS protection up to £120,000. The free plan includes invoicing, receipt capture and free HMRC-recognised MTD for Income Tax tools, making it a strong starting point for sole traders.

Free

£120,000

FSC protection limit

Core Account

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What is Tide?

Tide is a UK business account and money management app built for sole traders, freelancers and small businesses. It isn’t a bank in its own right - Tide Platform Limited is an electronic money institution authorised by the FCA - but newer accounts are issued via ClearBank, a fully licensed UK bank, which means eligible balances carry FSCS protection up to £120,000. A smaller number of longer-standing customers remain on older accounts where funds are safeguarded rather than FSCS-protected, so it’s worth checking your own account type in the app if this matters to you.

Is Tide free?

Yes, in a genuinely usable way. The free plan includes a business current account, UK card payments, five free bank transfers a month (20p each after that), Direct Debits, up to three invoices a month, third-party accounting software integration, and free HMRC-recognised Making Tax Digital for Income Tax tools. Three paid tiers sit above it: Smart (£12.49/month), Pro (£27.49/month) and Max (£69.99/month), each adding more transfers, team cards, cashback and higher invoice limits.

Key features

Invoicing, capped at 3 a month (unlimited on Max)
Free, HMRC-recognised MTD for Income Tax filing
Bank feed integration with Xero, QuickBooks, FreeAgent and Sage
Receipt capture and automatic expense categorisation
Xero Connector from the Smart plan up
Paid add-on for VAT filing and Self Assessment, from £13.99/month

Pricing

Tide has four UK plans. Most sole traders will start on Free or Smart.

Free - £0/month

Essential tools for getting started:

Business current account and UK card payments
5 free bank transfers a month (20p each after)
Direct Debits, ATM withdrawals, cash and cheque deposits
Invoicing, capped at 3 a month
Third-party accounting integration
Free MTD for Income Tax tools

Smart - £12.49/month

For businesses moving beyond admin:

For businesses moving beyond admin:
Everything in Free, plus
30 free transfers a month
0% FX fees on international card payments
One additional business account
Xero Connector
One team card

Pro - £27.49/month

For growing businesses wanting more control:

Everything in Smart, plus
Unlimited transfers
Two additional business accounts
Tide Accounting included
Two team cards

Max - £69.99/month

Built to make scaling simpler:

Everything in Pro, plus
Unlimited invoicing
0.5% cashback
Payroll software
Three team cards
Highest savings rate

Pros and cons

Pros:

Genuinely usable free plan
Free MTD for Income Tax filing
Bank feeds with Xero, QuickBooks, FreeAgent and Sage, even on the free plan
FSCS protection up to £120,000 on newer accounts
Fast, paperless account opening
Built specifically for self-employed and small business users

Cons:

Invoicing capped at 3 a month, except on Max
VAT filing needs a separate paid add-on
No overdraft facility
2.75% FX fee on international card payments on the free plan

Who is Tide best for?

Tide’s free plan is one of the strongest genuinely free options for a UK sole trader, particularly given it includes free HMRC-recognised MTD for Income Tax filing alongside invoicing and receipt capture. The main thing to watch is the three-invoice-a-month cap, which will frustrate anyone billing more frequently unless you upgrade or add Invoice Assistant separately. If you invoice often or want VAT filing built in, compare the cost of Tide’s paid tiers against a free account paired with dedicated accounting software.

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Frequently asked questions

Is Tide actually free for a sole trader?

Yes, the core Tide account has no monthly fee and includes invoicing, receipt capture and free MTD for Income Tax tools. Paid plans start at £12.49 a month for extra features like more transfers and a dedicated Xero connector.

Is my money protected if I bank with Tide?

Newer Tide accounts are issued via ClearBank, a licensed UK bank, so eligible balances are FSCS-protected up to £120,000. Some older accounts are safeguarded rather than FSCS-protected - check your account type in the app.

Can Tide submit my MTD for Income Tax quarterly updates to HMRC?

Yes, Tide’s free plan includes HMRC-recognised MTD for Income Tax tools that let you submit quarterly updates and your final declaration directly. VAT return submission needs the separate paid Tide Accounting add-on.

How many free invoices can I send with Tide?

Three a month, on the free, Smart and Pro plans. Only the Max plan (£69.99/month) includes unlimited invoicing, or you can add Invoice Assistant separately for £5.99 (excl. VAT) a month.

Does Tide connect to Xero, QuickBooks or FreeAgent?

Yes, bank feed integrations with Xero, QuickBooks, FreeAgent and Sage are available on every plan, including the free tier.

Compare accounting software for sole traders

Tide is one option among several worth comparing. Browse the full Business Banking directory to compare it against Starling, Monzo Business, Wise and Revolut Pro.

Pricing and offers correct at time of publication. Always check the Tide website for current pricing and promotional terms before signing up.