Finmo

Finmo: monthly bookkeeping for sole traders with diverse income

Finmo is a British accounting services company that targets sole traders whose income does not come from a single activity. Its approach focuses on keeping books every month, rather than reconstructing them once a year, and on preparing and filing the Self Assessment tax return with HMRC. The company operates through its website and offers support by email.

The firm presents itself as an alternative to bookkeeping software that assumes one business, one bank and one trade, and to accountants who only see the client once a year. According to the company's own data, more than half of its customers earn from more than one source: a job and a trade, several digital platforms, self-employment alongside a pension, a trade and a rental property, or CIS work with tax deducted at source. Finmo also mentions the need to split shared costs, such as a van or a phone, across the different income sources.

A four-step monthly way of working

The process described by the company begins with a short call to understand all sources of income, expenses and how they relate to the business activity. The client then connects their bank via a secure read-only link, which allows transactions to be seen but not operated. From there, an assigned bookkeeper reviews transactions each month, determines the allocation of each expense, splits shared costs and applies HMRC rules. The work is completed within days of month end.

The client receives a summary with income, deductible expenses, profit, the amount of tax to set aside and a warning about proximity to the VAT threshold. If the treatment of any item changes, the company communicates it and explains why. At the end of the year, a qualified accountant prepares the tax return from the books already closed month by month and files it with HMRC using their own credentials.

Assigned team and communication channels

Finmo assigns each client a team with stable names: a lead bookkeeper who keeps the books and consults on decisions that require it, an account manager who coordinates onboarding and follow-up, and a qualified accountant who reviews the year as a whole and signs the return. The company indicates that communication is more intense at the beginning, while it learns how the business works, and that afterwards it remains available for ad-hoc queries at no extra cost.

Plans and pricing

The company publishes three monthly plans with prices that include VAT and no setup fees or minimum term. The Bookkeeper plan costs £20 per month and is designed for sole traders who want their books kept and their return filed. The Bookkeeper MTD plan costs £40 per month and adds quarterly digital record submissions to HMRC for those enrolled in Making Tax Digital. The Bookkeeper Plus plan costs £60 per month and includes quarterly financial reviews with the accountant. In all three cases, filing by a qualified accountant is billed from £119, and catch-up bookkeeping is quoted separately at a fixed fee.

Making Tax Digital and quarterly obligations

Finmo explains that, since 6 April 2026, sole traders and landlords with combined self-employment and property income over £50,000 must keep digital records and send a quarterly update to HMRC. The company estimates that around 780,000 people are affected and notes that the threshold will drop to £30,000 in April 2027, bringing in another 970,000 people, and to £20,000 in April 2028. It adds that HMRC is not imposing penalty points for late quarterly updates during the first year, but that this tolerance will end. For clients who already have monthly bookkeeping, the company indicates that quarterly compliance requires no additional work.

Corporate details and registration

Finmo Limited is registered at Companies House with number 11079685 and registered with the FCA under the Payment Services Regulations 2017. The company declares copyright from 2017 to 2026. Its registered office is at 167-169 Great Portland Street, 5th Floor, London, W1W 5PF. Support email is support@finmo.co.uk.

Location and contact

Finmo Ltd, 167-169 Great Portland Street, 5th Floor, London, W1W 5PF · Email: support@finmo.co.uk