
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 specific services do accountants for freelancers provide?
Accountants for freelancers provide a range of services including preparing and filing Self Assessment tax returns, managing VAT returns, bookkeeping, and offering tax planning advice. They also assist with registering as self-employed, calculating payments on account, and ensuring you claim all allowable expenses. For freelancers operating as limited companies, they can handle Corporation Tax and payroll. Their goal is to keep you compliant with HMRC and help you minimise your tax bill while saving you time.
How do I choose between an ACCA, ICAEW, or AAT qualified accountant?
All three qualifications indicate a high level of competence, but they differ in focus. AAT members are often excellent for bookkeeping and basic tax preparation. ACCA and ICAEW members are chartered accountants with extensive training in complex tax matters, audit, and business strategy. For a freelancer, either an ACCA or ICAEW professional is ideal if you need comprehensive tax planning or operate a limited company. AAT qualified professionals are also suitable for straightforward self-employed tax returns.
Can an accountant help me if I have missed the Self Assessment deadline?
Yes, an accountant can help you if you have missed the Self Assessment deadline. They will assist you in filing your tax return as quickly as possible to minimise any late filing penalties. They can also advise on the best way to pay any tax due and help you set up a payment plan with HMRC if you cannot pay in full. Their expertise ensures you understand the penalty structure and take the correct steps to resolve the situation promptly.
What is Making Tax Digital and how does it affect freelancers?
Making Tax Digital is an HMRC initiative that requires businesses to keep digital records and use compatible software to submit VAT returns. Currently, it applies to VAT-registered businesses, but it will eventually extend to income tax for self-employed individuals. An accountant can help you choose the right software, set up your digital records, and ensure you are fully compliant. They will manage the digital submissions on your behalf, saving you time and reducing the risk of errors.
Why is it important to have a local accountant in Dumfriesshire?
Having a local accountant in Dumfriesshire means you can meet face-to-face to discuss your finances, which can build a stronger working relationship. A local professional understands the regional business landscape and may have connections with other local enterprises. They are also easily accessible for regular meetings and can provide personalised advice that is tailored to your specific circumstances. While online accountants are convenient, a local presence offers a level of personal service that many freelancers value.
How much does it cost to hire an accountant for a freelancer?
The cost of hiring an accountant for a freelancer varies based on the complexity of your finances and the level of service required. For a simple Self Assessment tax return, you might pay between £150 and £300 per year. If you need ongoing bookkeeping, VAT returns, or operate a limited company, fees can range from £500 to over £1,500 annually. Many accountants offer fixed-fee packages, so you know exactly what you will pay. It is always wise to request quotes from several firms before deciding.
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