Bank charges and fees

Yes

Bank charges on a business account (monthly fees, transaction charges, overdraft interest) are deductible as business expenses. Personal bank charges are not deductible even if you sometimes use the account for business.

Common questions

Can I claim the monthly fee on my business bank account?
Yes. Business account fees are a deductible business expense.
I use my personal account for business. Can I claim bank charges?
No. Charges on a personal account are a personal expense, even if business transactions go through it. You can deduct the business transactions themselves but not the account charges.

Watch out for

—Interest on a business overdraft or business loan is deductible as a finance charge.
—Card payment processing fees (e.g. Stripe, SumUp) are deductible.

HMRC sources

https://www.gov.uk/expenses-if-youre-self-employed

Last verified: April 2026 · Tax year 2026/27

Related expenses

Accountancy and bookkeeping fees
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This guidance is for general information only. Tax rules change. Verify with HMRC or a qualified accountant before filing.