
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

SJD ACCOUNTANCY LIMITED
SJD Accountancy is the UK’s largest specialist provider of fixed fee, limited company accountancy services to contractors and freelancers; we’ve been ...See More
Frequently asked questions
What should I look for when choosing an accountant for my freelance work?
When selecting an accountant, prioritise qualifications from recognised bodies such as ACCA, ICAEW, or AAT. Ensure they have experience with freelancers and understand HMRC regulations. Check their familiarity with Self Assessment and VAT. A good accountant will also offer proactive advice on tax planning and be accessible throughout the year, not just at filing deadlines.
How can an accountant help me with my Self Assessment tax return?
An accountant will accurately prepare and submit your Self Assessment tax return to HMRC, ensuring all allowable expenses are claimed. They will calculate your tax and National Insurance liabilities, advise on payments on account, and help you avoid common errors. This reduces the risk of investigations and penalties, giving you confidence in your tax affairs.
Do I need to be VAT-registered as a freelancer?
VAT registration is mandatory if your taxable turnover exceeds the current threshold, but you may also choose to register voluntarily. An accountant can advise on whether voluntary registration is beneficial for your business, considering factors like your client base and input VAT. They will also handle your VAT returns and ensure compliance with HMRC rules.
What are the benefits of using a certified accountant over an unqualified bookkeeper?
Certified accountants, such as those with ACCA, ICAEW, or AAT accreditation, have undergone rigorous training and adhere to professional standards. They are regulated and insured, providing you with greater protection. They offer comprehensive advice on complex matters like Corporation Tax and tax planning, whereas a bookkeeper may only handle basic record keeping.
How often should I meet with my accountant?
The frequency of meetings depends on your business needs. Many freelancers meet quarterly to review cash flow and tax liabilities, while others only communicate at year end. Regular contact is beneficial for ongoing tax planning and ensuring you are not missing any opportunities. Your accountant should be available for ad hoc queries throughout the year.
Can an accountant help me if HMRC investigates my tax return?
Yes, an experienced accountant can represent you during an HMRC investigation. They will handle all correspondence, prepare the necessary documentation, and ensure your rights are protected. Their knowledge of tax law and HMRC procedures is invaluable in resolving disputes efficiently and minimising any potential penalties or additional tax charges.
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