
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 typically offer Self Assessment tax return preparation, bookkeeping, VAT registration and returns, Corporation Tax filing for limited companies, and tax planning advice. They also help you claim allowable expenses, understand IR35 rules, and manage payments on account. Their goal is to keep you compliant with HMRC whilst maximising your take-home pay.
How can an ACCA or ICAEW qualified accountant help with HMRC enquiries?
An ACCA or ICAEW qualified accountant can act as your authorised agent when dealing with HMRC. They can handle correspondence, provide necessary documentation, and represent you during investigations or compliance checks. Their professional expertise ensures that your case is presented accurately and that you meet all deadlines, reducing stress and the risk of penalties.
Do I need an accountant if I am a freelancer with a small income?
Even with a small income, an accountant can be beneficial. They ensure your tax return is accurate and complete, helping you claim all allowable expenses and reliefs you may not know about. They also help you set aside the right amount for tax, avoiding surprises. The cost of an accountant is often offset by the savings they identify.
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 profits via Self Assessment. A limited company is a separate legal entity, subject to Corporation Tax, and may offer tax efficiencies. An accountant can explain the implications of each structure, including IR35, and help you decide which is best for your circumstances.
How often should I meet with my accountant in Dungiven?
Most freelancers meet with their accountant at least quarterly to review cash flow, tax liabilities, and upcoming deadlines. More frequent meetings may be useful during your first year or if your circumstances change. Regular contact ensures you stay on top of record keeping and can plan for tax bills effectively. Your accountant will advise on a suitable schedule.
What records do I need to keep for my accountant to prepare my tax return?
You should keep records of all income and expenses, including invoices, receipts, bank statements, and records of any business purchases. If you work from home, keep details of utility bills and mortgage interest. Also note mileage for business travel. Your accountant can provide a checklist to ensure nothing is missed, making the tax return process smoother.
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