
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 offer?
Accountants for freelancers typically offer a range of services including preparing and filing your Self Assessment tax return, managing your VAT returns, and providing advice on allowable expenses. They can also help with bookkeeping, setting up a limited company, and offering general financial guidance to ensure your freelance business remains profitable and compliant with HMRC regulations.
How can an accountant help me with my Self Assessment tax return?
An accountant can ensure your Self Assessment tax return is completed accurately and submitted on time to HMRC. They will review your income and expenses, identify all allowable deductions, and calculate your tax liability correctly. This reduces the risk of errors, helps you avoid penalties, and ensures you only pay the tax you owe.
What is the difference between an ACCA and an ICAEW accountant?
Both ACCA and ICAEW are prestigious professional bodies for accountants. ACCA (Association of Chartered Certified Accountants) has a strong international focus, while ICAEW (Institute of Chartered Accountants in England and Wales) is highly regarded for its rigorous training and business focus. Both qualifications demonstrate a high level of expertise and adherence to professional standards, making either a reliable choice.
Do I need to be VAT-registered as a freelancer?
VAT registration is mandatory if your taxable turnover exceeds the current threshold set by HMRC. However, you can also choose to register voluntarily. An accountant can advise you on whether registration is beneficial for your specific circumstances, help you complete the registration process, and manage your VAT returns to ensure compliance.
What are the benefits of hiring a certified accountant over using DIY software?
Hiring a certified accountant offers personalised advice that software cannot provide. They can help you structure your business efficiently, identify tax-saving opportunities, and ensure you meet all legal obligations. They also act as a safeguard against costly mistakes and provide peace of mind, allowing you to focus on your work rather than complex tax legislation.
How often should I meet with my accountant to discuss my finances?
It is advisable to meet with your accountant at least once a quarter to review your financial position and plan for upcoming tax deadlines. However, you may need more frequent contact during periods of significant change, such as registering for VAT or incorporating your business. Your accountant can also be available for ad-hoc advice whenever you have questions.
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