Your first steps

Read this guide to help you get started with Provestor's Property Tax Software

Open a business bank account

As you’re using a limited company, you’ll need to open a business bank account in your company’s name. This is because your company is a completely separate entity from you and it is a legal requirement to keep your personal and business finances separate.

It’s a good idea to open a bank account as soon as you can after setting up your company.

In order to use Provestor, you'll need to choose a bank that supports Open Banking. Most banks do nowadays but for a full list of who we support, click here.

The process for setting up a business bank account may vary slightly between banks but the general requirements are:

  • Proof of ID, and

  • Proof of address details (usually for the past three years)

You’ll also need the following documents relating to your company:

  • Certificate of Incorporation

  • In some cases, you’ll need your company UTR (Unique Taxpayer Reference), which is posted to your registered office address within 14 days of your company being registered

Tip: Provide the bank with your trading address (not your registered address) when opening an account. This ensures you receive important correspondence.

Register for Corporation Tax

You'll need to register for Corporation Tax at HMRC within three months of starting to do business.

You can register here.

Before you start, you'll need on hand:

  • Your company’s 10-digit Unique Taxpayer Reference (UTR)

  • Your company’s registration number which can be found on your Certificate of Incorporation

  • The date you started to do business (usually your incorporation date)

  • The date your annual accounts are made up to (your company year end)

Learn more about Corporation Tax here.

Connect your bank account to the software

Once your business bank account's set up, you'll need to connect it to the software via the 'Open Banking dashboard' page.

Select 'Connect to bank'.

Select your bank from the list of Open Banking compatible banks.

Read the consent page and select next. You'll then be taken to your online banking site to authorise Provestor.

Select the accounts you'd like to connect to the Provestor software. If you have multiple accounts with your bank, only select your business account.

Your account's now been added!

Tip: You'll need to reauthorise the connection every 90 days due to SCA requirements. It's really important as, if the connection is lost, fees will apply to reconnect.

Repay pre-incorporation expenses

In order to record business expenses that you've paid for personally, including those you incurred before the company was set up, you'll need to:

  1. Transfer the expense amount from your business account back to your personal account

  2. Once this transaction appears in your accounting software, categorise it as you would for any other business expense (e.g., by selecting the appropriate expense category etc)

  3. This action will ensure the expense is properly reflected and accounted for in your year-end accounts

Loan your company money

It's likely that you'll need to inject some cash into your business to cover start-up costs or the deposit on your first property. In order to ensure you're not left out of pocket, this will need to be recorded as a director's loan to the company.

Recording your loan in the software

When you've transferred the money from your personal to your business account, it'll appear in your bookkeeping records. Follow these steps to record it correctly:

  1. Create new record

  2. Select the transaction type as ‘Transfer’

  3. To/From is 'YOUR NAME’s director loan account'

  4. Select & save

The transaction will now be displayed in your director's loan account. The balance of your loan account will have decreased, as money is owed back to you from the company.

Tour the software

Take a look around! We've also put together an overview of our software which you can read here.

Add a property

Whether you're incurring expenses for a potential purchase or have already had an offer accepted, entering the relevant details here allows you to track any costs you incur and your property's value over time.

To add a property, click 'New' and fill out the relevant details.

Once added, you can see:

  • The tenants linked to the property

  • The property details

  • Add any property valuations

  • Mortgages linked to the property

  • The property status under 'Purchase and sale', which you can update depending on where you are in the buying journey

You can view your portfolio and click into each property via your 'Properties' homepage.

Get help

Search the help centre

This help centre contains guides and FAQs that you can access 24/7. We regularly add new content based on your questions and feedback.

Email us

If you still need support, email your query to and we'll get back to you within 48 hours.

Please note that we don't currently offer phone support with our Property Tax Software plan. If you'd like a full accountancy service that includes phone support, please check out our Advisory packages here.

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Help & advice by topic

Get started with ProvestorEverything you need to get set up in our accounting app
Buying & selling propertiesAdd and remove properties in Provestor
Managing tenancies & rentAdd tenancies and record rent in Provestor
BookkeepingKeep on top of your numbers with bookkeeping
Claiming expensesAllowable expenses, improvements and repairs
Money & financesManage dividends, loans payroll and pensions
Understanding property taxesFor personally held and limited company portfolios
Running a limited companyResources and guidance for company directors