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 typically provide?
Accountants specialising in freelance work typically offer a range of services including preparing and filing your Self Assessment tax return, bookkeeping, and VAT registration and returns. They also provide advice on allowable expenses, tax planning, and setting up a limited company. Many offer ongoing support to help you manage your cash flow and understand your tax obligations throughout the year.
How can an ACCA or ICAEW qualified accountant help with my HMRC tax return?
An accountant who is qualified with ACCA or ICAEW has undergone rigorous training and is bound by a professional code of conduct. They possess in-depth knowledge of HMRC rules and regulations, ensuring your tax return is accurate and submitted correctly. They can also represent you in the event of an HMRC enquiry, offering expert guidance and reducing the stress of dealing with the tax authority directly.
What is the difference between using an accountant and using tax software?
Tax software is a tool that can help you file a straightforward return, but it cannot offer personalised advice. An accountant provides a human service, analysing your unique financial situation to identify savings and offer strategic planning. They can answer complex questions, help with investigations, and provide proactive support that software simply cannot match, making them a valuable asset for growing your freelance business.
When should I start looking for an accountant as a new freelancer?
It is advisable to start looking for an accountant as soon as you begin your freelance journey or even before you register as self-employed. Early engagement allows them to advise you on the best business structure from the start, such as whether to operate as a sole trader or limited company. They can also help you set up efficient record-keeping systems to avoid issues later.
Can an accountant help me with VAT registration and returns?
Yes, absolutely. If your turnover exceeds the VAT threshold or you choose to register voluntarily, an accountant can manage the entire process. They will handle your VAT returns, advise on which scheme is most suitable for your business, such as Flat Rate or Cash Accounting, and ensure you remain compliant with all regulations, saving you time and potential errors.
How does a local accountant in Goring On Thames benefit my freelance business?
A local accountant offers the advantage of face-to-face meetings, which can build a stronger working relationship. They often have a better understanding of the local business environment and may be able to introduce you to other contacts. While many tasks are digital, having a nearby professional for regular catch-ups can provide reassurance and a more personal service.
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