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 doctors provide?
Accountants for doctors offer a range of services including preparation of Self Assessment tax returns, advice on allowable expenses, and management of NHS pension tax issues. They also assist with setting up and running a limited company for private practice, handling Corporation Tax, and ensuring compliance with HMRC regulations. Many firms provide cashflow forecasting and tax planning to help you retain more of your earnings.
How do I choose between an ACCA and an ICAEW qualified accountant?
Both ACCA and ICAEW qualifications indicate a high level of professional competence and adherence to strict ethical guidelines. The choice often comes down to personal preference and the specific expertise of the firm. You should look for an accountant who has experience working with medical professionals, as this ensures they understand the nuances of your income and pension contributions. Checking their credentials and client testimonials can help you make an informed decision.
Can an accountant help me with my NHS pension annual allowance tax charge?
Yes, an experienced accountant can provide valuable assistance with the NHS pension annual allowance tax charge. They can analyse your pension growth and income to determine if you are affected, and they can help you plan to minimise the impact. This may involve advising on the use of carry forward or considering scheme pays elections. Their expertise ensures you meet your tax obligations while optimising your pension benefits.
What is the difference between a tax return and a tax return review?
A tax return is the official form you submit to HMRC declaring your income and gains for the tax year. A tax return review is a service offered by accountants where they examine your completed return before submission to ensure accuracy and identify any missed deductions. This review can help prevent errors that might trigger an HMRC enquiry and can also reveal opportunities for tax savings that you may have overlooked.
Are accountants for doctors registered with a professional body?
Yes, reputable accountants for doctors are typically registered with a professional body such as ACCA, ICAEW, or AAT. This registration ensures they have the necessary qualifications and are bound by a code of conduct. It also means they are required to undertake continuing professional development to keep their knowledge up to date. You can verify an accountant's registration by checking the relevant professional body's online register.
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 reviewing your year-end accounts. However, more frequent meetings may be beneficial if you have significant changes in your income, such as starting private practice or taking on additional roles. Many accountants offer ongoing support and are available for ad hoc advice, ensuring you always have guidance when you need it.
About Accounting Firms
AccountingFirms.co.uk is the UK's dedicated accountant comparison website, helping individuals, sole traders, landlords, startups, and SMEs instantly compare accountancy and tax fees from trusted UK accounting firms.
Find and connect with qualified accountants, tax advisers, bookkeepers, and business advisers using advanced search filters, verified profiles, and genuine reviews aggregated from Google, Trustpilot, Yelp, and other trusted platforms.
Over 26,000+ UK Accountants in One Place
Explore the UK's largest independent directory of accountants regulated by professional bodies including ICAEW, ACCA, AAT, CIMA, CIPFA, AIA, IFA, and other recognised UK accountancy bodies.
Affordable Online Accounting Services
Buy fixed-fee accounting packages online with confidence. Services are delivered by experienced UK-qualified accountants and tax advisers, covering:
A Marketplace for Accountants
For accounting firms, AccountingFirms.co.uk is more than a directory. It's a powerful lead generation platform, accountant marketplace, and business growth hub, helping practices attract new clients, increase online visibility, generate qualified leads, and win more accounting and taxation work across the UK.