We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Mettle any good? (Not in the MSE business bank accounts article)

Hi all, 
I'm just setting up a business bank account. I've seen on the forum and in other places that people use Mettle, and that the FreeAgent software is a good bonus. However, it is not featured in the MSE article on business bank accounts, and I can't find any info on transaction fees on the Mettle webpage. 

Is it really, totally free? 
Is FreeAgent worth it, or do you have to buy add-ons to use it properly? 

I'm setting up a side hustle as a sole trader and will be taking card payments for an online service and some invoices. No cash deposits. I will earn more than £1k per year, but less than £10k. It will not need to be VAT registered. Combined with my PAYE job, I intend to stay out of the higher tax bracket by making extra payments to my work pension, which is salary sacrifice (if that is relevant). There are very few expenses, mostly basic office equipment. So end-of-year calculations should be simple. 

I'd welcome any thoughts on the above questions and whether you would/wouldn't recommend Mettle.

Many thanks.


Comments

  • Savvy_Sue
    Savvy_Sue Posts: 47,577 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    I haven't revisited the MSE article but it wouldn't surprise me if it predated Mettle.

    I have Freeagent free through my NatWest Community account. I have registered and used it, no charges. Whether it's any good or not in your situation, I couldn't say. I'm sure it would be fine for me if I only put some more effort into it. 

    If in doubt, reading the Freeagent t&c might be sensible.
    Signature removed for peace of mind
  • SVaz
    SVaz Posts: 784 Forumite
    500 Posts Second Anniversary
    I’ve used Mettle and freeagent now for 3 years,  both without issue and with MTD pending, Freeagent is a godsend. 
    Most things are automatic as long as you have the bank feed and you make sure expenses are in the right category. 
    You can even link it directly to your hmrc self assessment account. 

  • FIREmenow
    FIREmenow Posts: 377 Forumite
    Third Anniversary 100 Posts Name Dropper
    Thanks both! 
    Weirdly, I've just checked and the article was updated two days before I posted! No mention of Mettle anywhere. 

    I'll look for some more reviews before I decide and search the Mettle site again for details on charges. 
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.7K Banking & Borrowing
  • 253.8K Reduce Debt & Boost Income
  • 454.6K Spending & Discounts
  • 245.7K Work, Benefits & Business
  • 601.7K Mortgages, Homes & Bills
  • 177.7K Life & Family
  • 259.6K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.