
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 should I look for when choosing an accountant for my freelance work?
When selecting an accountant for your freelance business, look for someone who is qualified and regulated by a recognised body such as ACCA, ICAEW, or AAT. They should have experience with self-employed clients and be familiar with HMRC requirements. It is also helpful to find an accountant who communicates clearly and offers proactive advice on tax planning and record keeping.
How can an accountant help me with my Self Assessment tax return?
An accountant can prepare and file your Self Assessment tax return accurately, ensuring that you meet HMRC deadlines and avoid penalties. They will review your income and expenses, identify allowable deductions, and calculate your tax liability correctly. They can also advise on payments on account and help you plan for future tax bills.
Do I need to be VAT-registered as a freelancer?
You must register for VAT if your taxable turnover exceeds the current threshold set by HMRC. Even if you are below the threshold, voluntary registration might be beneficial depending on your clients and expenses. An accountant can assess your situation, handle the registration process, and manage your VAT returns to ensure compliance.
What are the benefits of using an ACCA or ICAEW qualified accountant?
Accountants who are members of ACCA or ICAEW have undergone rigorous training and adhere to high ethical and professional standards. They are required to complete continuing professional development, ensuring they stay current with tax legislation. Using such a qualified professional gives you confidence that your finances are handled competently and in accordance with regulations.
Can an accountant help me if I have missed the Self Assessment deadline?
Yes, an accountant can assist you if you have missed the Self Assessment deadline. They can help you file your return as quickly as possible and communicate with HMRC on your behalf to explain any mitigating circumstances. They may also advise on how to appeal any late filing penalties and set up a payment plan if you owe tax.
How often should I meet with my accountant to keep my finances in order?
It is advisable to have regular contact with your accountant, at least quarterly, to review your income and expenses and discuss any changes in your business. Many accountants offer ongoing support throughout the year, not just at tax time. Regular communication helps you stay on top of your tax obligations and make informed financial decisions.
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