
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

AWS ACCOUNTANTS (LONDON) LLP

SARA COOPERS ACCOUNTANTS LTD
About Sara Coopers Whatever business you are in; you owe it to yourself to find an accountancy service that operates for your benefit – not the taxma...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

MQPLUS LTD
MQplus LTD provides accurate, flexible and cost-effective managment accounting services for sole traders,partnerships and Limited Companies

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

TaxAssist Accountants
About TaxAssist Accountants Barking At TaxAssist Accountants, we provide a personal and professional accounting service tailored to you. We help star...See More

Rochvilles & Co Accountants Ltd
Welcome to the Rochvilles & Company website. We are glad that you make the time and effort to visit us. The website has being designed to provide you ...See More

Southall Accountants
We are the only accountants in the city who are dedicated to groom your business for growth. If you are a business owner, who is putting in the hard w...See More

KHAWAR & CO LTD
Khawar & Co Ltd is an active company located in London, Greater London. We are specialist accountancy firm, ready to help you with different accountan...See More

Ahmed-Cliffords Ltd
Ahmed-Cliffords has grown to become one of the region's most successful accountants and tax consultancy offices. From simple beginnings, when we wer...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

YBSM PARTNERS
YBSM Partners is a Certified Accounting Firm with a difference. Providing Accounting, T...
Future Formations Ltd
Future Formations is the new generation of forming companies; we have an expert team on hand to help you take the first step towards your future. Ba...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
Frequently asked questions
What specific services do accountants for freelancers offer?
Accountants for freelancers typically offer a range of services including preparation and filing of Self Assessment tax returns, bookkeeping, VAT returns, and tax planning. They can also advise on allowable expenses, help with HMRC enquiries, and assist with setting up a limited company if you choose to incorporate. Their goal is to ensure you meet all legal obligations whilst maximising your take-home pay.
How do I choose between an ACCA and an ICAEW accountant?
Both ACCA and ICAEW are prestigious professional bodies with rigorous standards. The choice often comes down to personal preference or specific expertise. ACCA accountants are particularly strong in business and tax matters, whilst ICAEW chartered accountants have a broad training. Always check that your chosen accountant holds a valid practising certificate and has experience with freelance clients in your industry.
What records do I need to keep for my Self Assessment tax return?
You should keep records of all income received, including invoices and bank statements, as well as records of any business expenses you wish to claim. This includes receipts for equipment, travel, and professional subscriptions. HMRC requires you to keep these records for at least five years after the 31 January submission deadline. Your accountant can help you organise a simple system to track everything.
Can an accountant help me if I am already facing an HMRC enquiry?
Yes, an experienced accountant can be invaluable during an HMRC enquiry. They will handle all communication with HMRC, review your records to ensure accuracy, and prepare a robust response to any queries. Having a professional who understands tax law and enquiry procedures can reduce stress and help achieve a favourable outcome. It is advisable to instruct an accountant as soon as you are notified.
What is the difference between a sole trader and a limited company for freelancers?
As a sole trader, you are personally responsible for business debts and pay Income Tax on your profits via Self Assessment. A limited company is a separate legal entity, meaning you pay Corporation Tax on profits and often take a salary and dividends. Each structure has different administrative and tax implications. An accountant can explain the pros and cons based on your income level and long-term plans.
How often should I meet with my accountant to review my finances?
It is advisable to have a formal meeting at least twice a year, typically before the end of the tax year and before the Self Assessment deadline. However, many freelancers benefit from more frequent contact, especially during the first year of trading or if their income fluctuates. Your accountant should be available for ad hoc queries and provide proactive advice throughout the year.
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