
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 business?
When selecting an accountant, look for recognised qualifications from bodies such as ACCA, ICAEW, or AAT. Check their experience with freelancers and their familiarity with Self Assessment and VAT. It is also wise to consider their communication style and whether they offer proactive advice. A good accountant will help you plan for tax liabilities and keep your records organised.
How can an accountant help me with my Self Assessment tax return?
An accountant can prepare and submit your Self Assessment tax return to HMRC, ensuring that all income and allowable expenses are correctly reported. They can also advise on payments on account and help you minimise your tax bill legally. By using their expertise, you reduce the risk of errors and avoid penalties for late or incorrect submissions.
Do I need to register for VAT as a freelancer?
If your taxable turnover exceeds the VAT threshold, you must register for VAT with HMRC. An accountant can help you determine whether registration is compulsory or voluntary. They can also assist with VAT returns, advise on which scheme suits your business, and ensure you claim the correct input tax on your purchases.
What is the difference between an ACCA and an ICAEW accountant?
Both ACCA and ICAEW are prestigious professional bodies that certify accountants. ACCA is globally recognised and often associated with business and management accounting, whilst ICAEW is known for its rigorous chartered accountancy training. Both qualifications require extensive study and practical experience, so you can trust the expertise of either professional.
Can an accountant help me with Corporation Tax if I am a limited company freelancer?
Yes, an accountant can prepare your company accounts and file your Corporation Tax return with HMRC. They will ensure that you claim all allowable expenses and make use of any reliefs. They can also advise on salary and dividend extraction to be tax-efficient, and help you meet your filing deadlines to avoid penalties.
How often should I meet with my accountant?
The frequency of meetings depends on your business needs. Many freelancers meet their accountant quarterly to review cash flow and tax planning. Others prefer an annual meeting to prepare their tax return. A proactive accountant will also stay in touch throughout the year to inform you of any changes in tax law that affect you.
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