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Lloyds Bank
Visit Lloyds Bank websiteView HMRC listing
Our notes
Lloyds bundles a free MTD Income Tax tool (built with BankiFi) into its Business Account online banking for sole traders and landlords. HMRC lists quarterly updates only, and the account itself costs £10 a month after the first year.
Pros
- No extra cost for Lloyds customers
- Standard and calendar update periods
- Accruals possible via manual entries
Cons
- Final declaration not listed (HMRC: quarterly updates only)
- Account fee £10/mo after year 1
- Online banking only; Lloyds account data only
Price
Prices can change without notice, so confirm with the provider before you buy. Spotted an error? Email us.
- Cheapest MTD-capable plan
- Lloyds Business Account – MTD tool
- Per month
- Free
- Per year
- Free
- VAT
- n/a
- Notes
- No extra cost for the MTD tool; the Business Account has no fee for 12 months (first business account) then £10/month.
- Landlord pricing
- included. For landlords 'registered as sole traders'.
- Agent/accountant pricing
- unknown. Not published.
Really free?
- Quarterly updates free
- yes
- Tax return (final declaration) free
- not documented – HMRC lists 'Quarterly updates' only; Lloyds pages mention quarterly updates only
- Limits
- Online for Business only (app coming); initially Lloyds Business Account data only (manual entries allowed).
- Bank account condition
- Requires a Lloyds Business Account (free 12 months, then £10/mo)
- Time limit
- Account fee-free for 12 months
Landlords and spreadsheets
- Jointly owned property
- unknown. No vendor evidence.
- Excel bridging
- n/a
- Google Sheets bridging
- n/a
- CSV import
- n/a
- Bridging notes
- Not bridging software (HMRC listing: bridging 'Not included').
Checked 17 Oct 2026. Sources:www.lloydsbank.com
HMRC listing
What the software provider has told HMRC. “In development” means the provider has committed to building it in time for the 2026 to 2027 tax return.
Features
| Free version | Ready now |
|---|---|
| Agent software | Not included |
| Individual software | Ready now |
| Software that creates digital records | Ready now |
| Bridging software that connects to records | Not included |
| Standard update period (6 April to 5 April) | Ready now |
| Calendar update period (1 April to 31 March) | Ready now |
| Making Tax Digital for VAT | Not included |
| HMRC Assist (Submission Feedback) | Not included |
Business income
| Sole trader | Ready now |
|---|---|
| UK property | Ready now |
| Foreign property | Not included |
Other income sources and items
| Employment (PAYE) | In development |
|---|---|
| UK dividends | In development |
| State Pension income | In development |
| Private pension incomes | In development |
| Partner income from a partnership | In development |
| Foreign dividends | In development |
| Foreign interest | In development |
| Private pension contributions | In development |
| Construction Industry Scheme | In development |
| Charitable giving | In development |
| Capital Gains | In development |
| Student Loan | In development |
| Marriage Allowance | In development |
| Voluntary Class 2 National Insurance | In development |
| High Income Child Benefit Charge | In development |
| UK interest | In development |
Accessibility
| Blindness or impaired vision | Ready now |
|---|---|
| Deafness or impaired hearing | Ready now |
| Motor or physical difficulties | Ready now |
| Cognitive impairments | Ready now |
Platform
| Software type | Web browser |
|---|---|
| Compatible with | Microsoft Windows Mac OS Linux |
| Language | English |