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
OVAL ACCOUNTANTS LTD
Your Bookkeeping, Accounting And Self Assessment Experts, Here To Bring You The Highest Standard Of Service.
Cruse+Burke
As one of the leading accountants in Croydon, we are forward thinking in the way we approach your business requirements and the way we give you except...See More
Owadally & Kings Partnership
At O&K we aspire to be one of the most forward thinking accountancy firms in Croydon. Our dedicated in-house team, and external specialists, based in ...See More
Cruse + Burke
As one of the leading accountants in Croydon, we are forward thinking in the way we approach your business requirements and the way we give you except...See More
APRC Accountants
We are a forward thinking firm of Chartered, Certified Public Accountants & Tax Advisers and Chartered Payroll Professionals established in 2005 in th...See More
Marden & Co Accountants Ltd
We are a two partner accountancy practice based in Epsom, serving Sutton, Banstead, Reigate, Dorking & across Surrey. We provide professional accounta...See More
Taxaccolega Chartered Accountants & Tax Advisers
As one of the brightest firms of chartered accountants in London, UK, Taxaccolega, based in Croydon, combines the passion and creative thinking of a s...See More
EFJ CONSULTING LTD
We are the firm of Chartered Certified Accountants based in London. We provide professional and practical help with all aspects of accountancy and tax...See More
Central London Accountants
We are proud partners of leading software provider firm Xero, and we can help if you require Xero Accountants in London, Xero training, or need remote...See More
London Accountants
We have been providing a range of tailored accounting and taxation services to individuals as well as small and medium sized businesses. See More
Cheap - Accountants
As a small business owner, your main focus is to work on your business strengths to help it grow, and you can’t just achieve it through juggling every...See More
Abu Umar & Co.
Welcome to Abu Umar & Co. We are a small Accounting firm, based in London, We specialize in dealing with all accounting problems. As we have been o...See More
Tax Cruncher
Tax Cruncher is an online accounting &Tax consulting firm serving clients nationwide. Our aim is to help SMEs to grow their business by crunching thei...See More
Coman And Co Ltd
Chartered Tax Advisers and Chartered Certified Accountants, we offer assistance with tax return compliance and specialist tax consultancy services for...See More
Accounting Made Simple
Accounting Made Simple is a tech-savvy accountancy and bookkeeping organization located in London which assists clients to ru...See More
MONEYTREE FINANCIAL LTD
Moneytree Financials' focus is to provide clients with useful, relevant and meaningful services aimed at supporting and guiding your business as it mo...See More
Frequently asked questions
What specific services do accountants for freelancers typically provide?
Accountants for freelancers typically provide a comprehensive range of services tailored to the self-employed. These services include preparing and submitting your annual Self Assessment tax return, calculating your payments on account, and advising on allowable business expenses. They can also assist with VAT registration and returns if your turnover exceeds the threshold, and offer guidance on record-keeping practices. Many accountants also provide payroll services if you employ staff and can offer general financial planning advice to help you manage your cash flow effectively throughout the year.
How can an accountant help me with my HMRC tax return?
An accountant can be invaluable when dealing with your HMRC tax return. They will ensure that your return is completed accurately and submitted before the deadline, avoiding any late filing penalties. They possess the knowledge to identify all allowable expenses and reliefs you are entitled to claim, which can significantly reduce your tax bill. Furthermore, they can act as your agent and correspond with HMRC on your behalf if there are any queries or investigations into your affairs, providing professional representation and reducing your stress during what can be a complex process.
Why is it important to choose an accountant who is ACCA or ICAEW registered?
Choosing an accountant who is registered with a recognised professional body like ACCA or ICAEW provides you with assurance of their competence and ethical standards. These qualifications require rigorous examinations and ongoing professional development to maintain membership. Furthermore, such accountants are bound by a strict code of conduct and are subject to regulatory oversight. This means they must carry professional indemnity insurance, protecting you if they make an error. Engaging a regulated professional ensures you are receiving advice from someone who is fully qualified and accountable for their work.
What is the difference between using an accountant and using accounting software?
Accounting software is a useful tool for recording transactions and tracking income, but it cannot provide the strategic advice that a professional accountant offers. Software cannot interpret complex tax legislation or apply it to your specific circumstances. An accountant will analyse the data from your software to identify tax-saving opportunities and warn you of potential risks. They also save you significant time by handling submissions and communications with HMRC. While software is a good starting point, an accountant adds a layer of expertise that ensures your tax affairs are optimised and fully compliant.
How do I know if I need to register for VAT as a freelancer?
You must register for VAT if your total taxable turnover for the previous 12 months exceeds the current VAT threshold, which is £90,000. You may also register voluntarily if your turnover is below this limit, which can be beneficial if you incur VAT on your business purchases and wish to reclaim it. An accountant can assess your specific situation and advise whether compulsory registration applies to you or if voluntary registration is financially advantageous. They can also help you choose the most suitable VAT scheme, such as the flat rate scheme, which may simplify your accounting and save you money.
What records do I need to keep for my accountant to prepare my accounts?
To prepare your accounts efficiently, your accountant will need you to maintain accurate records of all your business income and expenses. This includes invoices you have issued, receipts for purchases, bank statements, and records of any personal money introduced into or taken out of the business. You should also keep a log of mileage if you use your vehicle for business purposes and details of any equipment you have bought. Using a separate business bank account can simplify this process. Your accountant will provide you with a specific checklist to ensure you gather all the necessary documentation for a smooth tax return preparation.
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