
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, consider their qualifications, experience with freelancers, and familiarity with HMRC requirements. Look for professionals who hold ACCA, ICAEW, or AAT accreditation, as this demonstrates a high level of competence. Also, assess their communication style and whether they offer proactive advice on tax planning and business growth.
How can a freelance accountant help with my Self Assessment tax return?
A freelance accountant will ensure your Self Assessment tax return is accurate and submitted before the deadline. They will review your income and expenses, identify allowable deductions, and calculate the tax you owe. This reduces the risk of errors and penalties, and helps you avoid overpaying tax by claiming all legitimate reliefs.
Do I need to register for VAT as a freelancer?
If your taxable turnover exceeds the current VAT threshold, you must register for VAT with HMRC. An accountant can help you determine your obligation and advise on whether voluntary registration is beneficial. They will also manage your VAT returns and ensure you claim back any input tax on eligible purchases.
What is the difference between an ACCA and an ICAEW accountant?
Both ACCA and ICAEW are prestigious professional bodies that certify accountants. ACCA (Association of Chartered Certified Accountants) has a global focus, whilst ICAEW (Institute of Chartered Accountants in England and Wales) is more UK-centric. Both qualifications require rigorous exams and practical experience, ensuring a high standard of expertise for your freelance finances.
Can an accountant help me if I operate as a limited company freelancer?
Yes, an accountant can assist with company formation, Corporation Tax returns, and annual accounts. They will ensure your company complies with Companies House requirements and advise on salary versus dividend extraction to optimise your tax position. This specialist support is essential for limited company freelancers to avoid costly mistakes.
How often should I meet with my accountant to review my finances?
It is advisable to have regular check-ins, at least quarterly, to review your cash flow, tax provisions, and any changes in legislation that may affect you. Your accountant can provide ongoing advice throughout the year, not just at tax return time. This proactive approach helps you stay ahead of deadlines and plan for future growth.
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