
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, look for recognised qualifications from bodies such as ACCA, ICAEW, or AAT. Check that they have experience with freelancers and understand your specific trade. It is also wise to confirm they are registered with HMRC for agent services and can handle Self Assessment and VAT if needed.
How can an accountant help me with my Self Assessment tax return?
An accountant can prepare and file your Self Assessment tax return accurately and on time. They will identify allowable expenses, ensure you claim all relevant reliefs, and calculate your tax and National Insurance liabilities. This reduces the risk of errors and penalties from HMRC, saving you stress and potential costs.
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 register voluntarily if it benefits your business. An accountant can advise whether voluntary registration is worthwhile and manage your VAT returns and records to ensure compliance.
What are the benefits of using a certified accountant over a general bookkeeper?
Certified accountants, such as those with ACCA or ICAEW status, have advanced training and must follow strict ethical guidelines. They can provide strategic tax planning, represent you before HMRC, and offer advice on complex matters like Corporation Tax. Bookkeepers are valuable for day-to-day records but lack the same regulatory oversight.
How often should I meet with my accountant to keep my finances in order?
It is advisable to have a review at least once a quarter, but many freelancers meet monthly, especially when cash flow is variable. Regular meetings help you stay on top of tax payments, plan for upcoming liabilities, and adjust your financial strategy. Your accountant can also remind you of key deadlines throughout the year.
Can an accountant help me if I have missed an HMRC deadline?
Yes, an accountant can assist if you have missed a deadline. They can help you submit late returns, negotiate with HMRC regarding penalties, and set up a time-to-pay arrangement if you owe tax. Acting quickly is essential, and professional representation can often reduce the severity of fines.
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