
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 for your freelance business, look for someone who is qualified and regulated by a recognised body such as ACCA, ICAEW, or AAT. Experience with freelancers is also important, as they will understand the specific tax rules that apply to self-employed individuals. Check that they offer the services you need, such as Self Assessment preparation, VAT advice, or Corporation Tax filing. Finally, consider their communication style and whether they are approachable and responsive.
How can a freelancer accountant help with HMRC tax investigations?
If HMRC opens an investigation into your tax affairs, a qualified accountant can be invaluable. They will handle all correspondence with HMRC on your behalf, ensuring that your responses are accurate and timely. They can help you gather the necessary records and evidence to support your tax return. Their knowledge of tax law and investigation procedures will help protect your rights and minimise any potential penalties or additional tax liabilities.
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. Even if your turnover is below this, you may choose to register voluntarily, especially if you supply other VAT-registered businesses. A freelance accountant can help you decide whether voluntary registration is beneficial for your situation. They will also manage your VAT returns and ensure you comply with all HMRC requirements.
What is the difference between an ACCA and an ICAEW accountant?
ACCA (Association of Chartered Certified Accountants) and ICAEW (Institute of Chartered Accountants in England and Wales) are both prestigious professional bodies. ACCA accountants have a strong focus on international standards and business, whilst ICAEW chartered accountants are known for their expertise in audit and financial reporting. Both qualifications require rigorous exams and ongoing professional development. The right choice depends on your specific needs, but all members are highly qualified and regulated.
Can an accountant help me with my Self Assessment tax return?
Yes, an accountant can prepare and submit your Self Assessment tax return to HMRC on your behalf. They will ensure that all your income and allowable expenses are correctly reported, helping you minimise your tax liability. They will also advise you on deadlines and payment on account, so you avoid late filing penalties. Using an accountant gives you confidence that your tax return is accurate and complete.
How often should I meet with my freelance accountant?
The frequency of meetings with your accountant depends on the complexity of your finances and your personal preference. Many freelancers meet their accountant quarterly to review their cash flow and tax planning. Others only meet once a year to prepare their tax return. Some accountants offer ongoing support via email or phone, so you can ask questions as they arise. Regular communication helps ensure you are always on track with your tax obligations.
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