
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

BLUEBIRD ACCOUNTANCY LIMITED
Bluebird Accountancy was created with the needs of modern day contractors and freelancers like you in mind. With modern day accountancy software makin...See More

MARK SASTA & ASSOCIATES
Mark Sasta & Associates Ltd is a member firm of the Institute of Chartered&nbs...

KUBED SOLUTIONS LIMITED
Gouri Kubair, the founding director of the business has over a decade of experience in the field of accountancy. Including 8 years in Deloitte, ...See More

MADE SIMPLE GROUP LIMITED
Founded in 2003, we've formed over 1 million companies and helped thousands of business owners start, run and grow their business. We help you form ...See More

GOFORMA LIMITED
GoForma is a trusted team of accountants in UK, helping contractors, freelancers, sole&...

Alpha Tax & Accounting
Alpha Tax & Accounting is an independent firm of Financial Accountants. We can help small businesses, established businesses, start-ups, partnerships,...See More

Reckonwell Finance
We are a distinguished Boutique Virtual Finance Office that champions excellence in financial solutions.

YOUR COMPANY FORMATIONS LTD
Setting up a new company can often be a daunting especially if you have never run a business before. Your Company Formations are a team of experienced...See More

THEFORMATIONSCOMPANY.COM LIMITED
Forming your company is the first step. Together, we’ll make it an easy one. We’ve helped form more than 750,000 companies. Whether you’re taking a ho...See More

TIDE PLATFORM LTD
Tide is about doing what you love We believe the world would be a better place if more people gave it a shot. It’s why we’re building a modern busin...See More

Persona Finance
Persona Finance is a London accounting company with an office at 63/66 Hatton Garden in London. Due to the lock-down, we are happy to provide ou...See More

ION Chartered Accountant
ION Chartered Accountants are a boutique accountancy and consulting practice that supports small and medium enterprises in a wide range of business se...See More

Clear House Accountants
Clear House Accountants are Performance-driven Business Accountants in London. We are Chartered Accountants focused on helping startups and small bus...See More

1ST FORMATIONS LIMITED
1st Formations is a leading online company formation agent in the UK. We offer a comprehensive selection of company registration packages and address ...See More

MAKESWORTH LIMITED
Makesworth
Accountants is an award-winning accountancy practice of Chartered
Certified Accountants tax and business advisors. We a...
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TaxPert Solutions Limited Certified Public Accountants
We are a small business accountant who provides smart solutions to your business needs. The Care your Business need from Experts Taxpert is a modern,...See More

KAAB
BUSINESS ADVISORY-Would you like to see how i can help to improve your profit, your cashflow and the value of your business value?
We want you to i...See More
Enterprise Nation
We help people to start and grow their own business.
Frequently asked questions
What specific records do I need to keep before meeting an accountant for my Self Assessment?
You should maintain a detailed record of all business income and expenses, including invoices issued and receipts for purchases. Additionally, keep bank statements, records of any personal funds introduced into the business, and documentation for any capital assets bought. If you work from home, note your household bills to support a claim for a proportion of your costs. Organising these documents chronologically will help your accountant prepare your tax return efficiently and ensure you claim every legitimate deduction.
How does an ACCA or ICAEW qualified professional differ from an unregulated tax adviser?
Professionals qualified with ACCA or ICAEW are bound by strict ethical codes and must complete continuous professional development to maintain their status. They also hold practising certificates and are subject to regular monitoring by their professional body. This oversight ensures they provide accurate advice and handle your affairs competently. An unregulated adviser may lack this formal accountability, potentially exposing you to incorrect filings or poor guidance. Choosing a regulated accountant provides greater protection and assurance of high-quality service.
Can an accountant help me if I have missed the HMRC deadline for filing my tax return?
Yes, an experienced accountant can assist you even after a missed deadline. They will help you file your return as quickly as possible to minimise any late filing penalties. Additionally, they can advise on whether you have a reasonable excuse for the delay, which might allow you to appeal against the automatic fine. Your accountant will also calculate any interest due on unpaid tax and guide you through the process of settling your liability with HMRC to prevent further escalation of the matter.
What is the benefit of using a local accountant in Cockfosters for my freelance business?
A local accountant offers the advantage of face-to-face meetings, which can be valuable for discussing complex issues or simply building a trusted relationship. They are familiar with the local business environment and may have connections to other professionals, such as solicitors or financial advisers, who can support your growth. Furthermore, visiting their office is convenient, and you can drop off physical paperwork securely. This personal interaction often leads to better communication and a more tailored service compared to remote-only providers.
How does VAT registration work for a freelancer, and when is it compulsory?
VAT registration becomes compulsory once your total taxable turnover exceeds the current threshold of £90,000 in a rolling twelve-month period. You must then charge VAT on your services and submit regular returns to HMRC, usually quarterly. Your accountant can help you register, choose the right scheme such as Flat Rate or Annual Accounting, and manage your submissions. They will also advise on whether voluntary registration is beneficial, particularly if you incur significant VAT on your own business purchases.
What types of expenses can I legitimately claim against my freelance income to reduce my tax bill?
You can claim expenses that are incurred wholly and exclusively for the purpose of your trade. Common claims include office supplies, software subscriptions, professional indemnity insurance, travel costs for client meetings, and a proportion of your home utility bills if you work from home. You may also claim for marketing costs, training courses relevant to your business, and equipment purchases. Your accountant will review your expenditure to ensure every claim is valid and correctly calculated, helping you reduce your overall tax liability legally.
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