
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 business?
When selecting an accountant, you should look for someone who is qualified and regulated by a recognised body such as ACCA, ICAEW, or AAT. It is also important to find an accountant who has experience working with freelancers in your specific industry. They should be familiar with HMRC requirements, including Self Assessment and VAT, and offer proactive advice on tax planning.
How can a freelance accountant help me with my Self Assessment tax return?
A freelance accountant can prepare and submit your Self Assessment tax return to HMRC on your behalf, ensuring that all income and allowable expenses are correctly reported. They will also calculate your tax liability and advise on any payments on account. This saves you time and reduces the risk of errors, helping you avoid penalties and interest charges.
Do I need to be VAT-registered as a freelancer?
You must register for VAT if your taxable turnover exceeds the current threshold, which is £90,000. However, you can also choose to register voluntarily if it benefits your business. An accountant can assess your situation and advise whether voluntary registration is worthwhile, and they can manage your VAT returns and records to ensure compliance with HMRC.
What are the benefits of using an ACCA or ICAEW qualified accountant?
ACCA and ICAEW qualified accountants have undergone rigorous training and assessments, demonstrating a high level of expertise and professionalism. They are required to adhere to strict ethical guidelines and continue their professional development. This means they are up to date with the latest tax laws and can provide reliable, accurate advice for your freelance business.
Can an accountant help me if I operate as a limited company?
Yes, an accountant with experience in freelancing can provide comprehensive support for limited company directors. They can help with company formation, Corporation Tax returns, payroll, and dividend planning. They will also ensure that your company accounts are filed on time with Companies House and that you meet all your statutory obligations.
How does using an accountant save me money in the long run?
An accountant can identify allowable expenses that you might have missed, ensure that you are not overpaying tax, and provide strategic advice on how to structure your finances efficiently. They can also help you avoid late filing penalties and interest charges. Over time, these savings can significantly outweigh the cost of their services.
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