If you have been operating as a sole trader and you’re setting up as a limited company, we recommend that you keep these accounts separate - legally, your sole trader and limited company businesses are separate entities, and so you should have separate accounts in each name.
Limited Companies with Sole Trader accounts
If you have a sole trader account with Coconut at the moment, but you are and always have been operating as a limited company, we can get the account name and type swapped over for you. To request a sole trader to limited company account conversion, click here.
Starting a Limited Company
If you are a sole trader, but you are planning to set up a limited company and cease trading as a sole trader, then you’ll want to open a new account in the name of your limited company. We can help you to close out your sole trader account and get your limited company account open.
To get help with this, please complete this form and our support team will help you transition to a limited company.
Both Sole Trader & Limited Company
Currently, we don’t currently offer multiple accounts. This is on our roadmap and we’ve been doing a lot of work in the background to prepare for this.
Our goal is for people to be able to operate multiple businesses and accounts through a single login - we’ve made a lot of the updates to our systems to prepare for this over the last few months, and so we’ll be aiming to add support in the future.
For now though, you will have to either have a sole trader account or a limited company account with Coconut.