
ACCOTAX - Accountants & Tax Consultants
Welcome to ACCOTAX, a firm of Chartered Accountants in London. The firm was established in 2009 and has helped thousands of businesses and individuals...See More

ACCOTAX - Accountants & Tax Consultants
Welcome to ACCOTAX, a firm of Chartered Accountants in London. The firm was established in 2009 and has helped thousands of businesses and individuals...See More
Frequently asked questions
What specific services do accountants for dentists provide?
Accountants for dentists provide a range of services including preparation of annual accounts, Self Assessment tax returns, Corporation Tax filings, VAT returns, payroll management, and tax planning. They also offer practice valuation, succession planning, and advice on buying or selling a dental practice. These specialists understand the unique financial structure of dental businesses, including NHS and private income, and can help with cash flow forecasting and budgeting to ensure long-term profitability.
How do I know if an accountant is properly qualified?
Qualified accountants will hold membership with a recognised professional body such as ACCA, ICAEW, or AAT. These organisations require rigorous training, ongoing professional development, and adherence to strict ethical standards. You can verify an accountant's credentials by checking the register on the relevant body's website. Firms listed on AccountingFirms are vetted to ensure they hold valid qualifications and are regulated, giving you confidence in their expertise.
Can an accountant help me with HMRC investigations?
Yes, an experienced accountant can provide invaluable support during an HMRC investigation. They can handle all correspondence with HMRC, prepare the necessary documentation, and ensure that your tax returns are accurate and compliant. They will also advise on your rights and options, potentially reducing penalties and interest. Having a qualified professional on your side reduces stress and ensures that your interests are protected throughout the process.
What is the difference between ACCA, ICAEW, and AAT qualifications?
ACCA and ICAEW are chartered accountancy bodies that require a university degree or equivalent, extensive practical experience, and passing rigorous exams. They qualify accountants to work in all areas of finance, including audit, taxation, and consultancy. AAT is a vocational qualification that focuses on practical accounting skills such as bookkeeping, costing, and preparing accounts. All three are recognised and regulated, but ACCA and ICAEW members are often more experienced in complex tax matters.
How often should I meet with my accountant?
It is advisable to meet with your accountant at least twice a year, once for tax planning and once for preparing your annual accounts. However, many dentists benefit from quarterly meetings to review cash flow, discuss practice performance, and address any changes in tax legislation. Regular communication ensures that you are always aware of your tax obligations and can make informed decisions throughout the year, avoiding any last-minute surprises.
Will using an accountant save me money on my tax return?
A specialist accountant can often save you more than their fee by identifying allowable expenses and tax reliefs you may have missed. They will ensure that your tax return is accurate and complete, reducing the risk of penalties for errors. They can also advise on tax-efficient ways to structure your practice, such as incorporating or utilising pension contributions, which can significantly reduce your overall tax liability.
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