
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, look for recognised qualifications such as ACCA, ICAEW, or AAT membership. Ensure they have experience with freelancers and understand Self Assessment, VAT, and allowable expenses. Check their communication style and whether they offer proactive advice. It is also wise to confirm their fee structure and whether they provide support in the event of an HMRC enquiry.
How can an accountant help me with my Self Assessment tax return?
An accountant will prepare and submit your Self Assessment tax return accurately and on time, ensuring you claim all allowable expenses and reliefs. They will calculate your tax and National Insurance liabilities, helping you plan for payments. If HMRC queries your return, your accountant can represent you and handle all correspondence, reducing your stress and saving you valuable time.
What is the difference between a sole trader and a limited company for a freelancer?
As a sole trader, you are personally responsible for business debts and pay tax on your profits through Self Assessment. A limited company is a separate legal entity, offering limited liability and potential tax efficiencies through Corporation Tax and dividends. An accountant can help you decide which structure suits your circumstances, considering factors like income level, liability, and administrative burden.
Do I need to register for VAT as a freelancer?
You must register for VAT if your taxable turnover exceeds the current VAT threshold, which is £90,000. Even if your turnover is below this, voluntary registration may be beneficial if you incur significant VAT on business expenses. An accountant can advise on the best approach for your situation, including whether to use the Flat Rate Scheme, and help you manage your VAT returns.
How does an ACCA or ICAEW qualified accountant add value to my freelance business?
ACCA and ICAEW qualified accountants have undergone rigorous training and adhere to strict ethical and professional standards. They bring up-to-date knowledge of tax legislation, enabling them to identify savings and ensure compliance. Their expertise allows them to offer strategic advice on business growth, cash flow management, and tax planning, ultimately helping you increase profitability and reduce financial risk.
Can I find an accountant who specialises in freelancers in my local area?
Yes, AccountingFirms.co.uk allows you to search for accountants by location, so you can find professionals who are familiar with the local business landscape. Many firms also offer remote services, giving you flexibility in choosing the right accountant. You can compare their specialisms, read client reviews, and contact them directly to discuss your needs before making a decision.
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