
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, check for recognised qualifications from bodies such as ACCA, ICAEW, or AAT. Also consider their experience with freelancers and sole traders, their familiarity with HMRC procedures, and whether they offer services like Self Assessment tax return preparation and VAT handling. It is wise to read client reviews and arrange an initial consultation to discuss your specific needs and their fee structure.
How can a freelance accountant help with my Self Assessment tax return?
A freelance accountant can prepare and submit your Self Assessment tax return accurately and on time, ensuring that you pay the correct amount of tax. They will help you identify allowable business expenses, claim relevant reliefs, and keep proper records throughout the year. This reduces the risk of errors and penalties, and they can also advise on payments on account to help you budget effectively.
Do I need to register for VAT as a freelancer?
You must register for VAT if your taxable turnover exceeds the current threshold, which is £85,000. However, you may choose to register voluntarily if it benefits your business. An accountant can assess your situation, advise on whether voluntary registration is worthwhile, and help you complete the registration process. They can also manage your VAT returns and ensure compliance with HMRC rules.
What is the difference between ACCA, ICAEW, and AAT qualifications?
ACCA and ICAEW are chartered accountancy bodies that require rigorous exams and practical experience, and they are recognised internationally. AAT is a vocational qualification that focuses on practical accounting skills, and it is often a stepping stone to full chartered status. All three ensure a high level of competence and ethical standards, so you can trust their advice.
Can an accountant help me if I operate as a limited company?
Yes, many accountants specialise in supporting freelancers who run their business through a limited company. They can help with company formation, Corporation Tax returns, payroll and dividends, and ensuring that you comply with Companies House and HMRC obligations. They also advise on tax-efficient ways to extract profits and manage your personal tax liabilities.
How often should I meet with my freelance accountant?
The frequency of meetings depends on your needs and the complexity of your finances. Many freelancers meet their accountant quarterly to review cash flow, plan for tax payments, and discuss any changes in their business. Some accountants offer ongoing support via phone or email, so you can ask questions as they arise. Regular communication helps you stay on top of deadlines and avoid surprises.
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