
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 a freelancer look for when choosing an accountant in Millfield Sunderland?
When selecting an accountant, freelancers should prioritise qualifications from recognised bodies such as ACCA, ICAEW, or AAT. It is also important to find someone with experience in dealing with self-employed clients and who understands the specific challenges of freelance work. Look for an accountant who offers proactive advice on tax planning, can help with Self Assessment, and is accessible throughout the year, not just at filing deadlines.
How can an accountant help me with my Self Assessment tax return?
An accountant can prepare and submit your Self Assessment tax return to HMRC on your behalf, ensuring that all figures are accurate and that you claim every allowable expense you are entitled to. They will also advise you on how much tax you need to pay and the deadlines for payments on account, helping you to avoid penalties and manage your cash flow effectively.
Do I need an accountant if I am a freelancer and my earnings are modest?
Even if your earnings are modest, an accountant can save you time and money by ensuring your tax return is correct and that you are not overpaying tax. They can also help you understand your record-keeping obligations and advise on allowable expenses, which can reduce your tax bill. The cost of professional advice is often outweighed by the savings and peace of mind it provides.
What is the difference between ACCA, ICAEW, and AAT qualified accountants?
ACCA and ICAEW are chartered accountancy bodies, and their members are fully qualified chartered accountants with extensive experience. AAT is a professional body for accounting technicians, and its members may have a more technical focus, often working under a chartered accountant. All three qualifications demonstrate a high level of competence, but chartered status indicates a deeper level of training and experience.
Can an accountant help me if I am VAT-registered or need to register for VAT?
Yes, an accountant can advise you on whether you need to register for VAT, and if you are already registered, they can help you prepare and submit your VAT returns. They will also guide you on which supplies are taxable, how to claim input tax, and how to manage your records to remain compliant with HMRC requirements. This is especially valuable for freelancers whose income exceeds the VAT threshold.
How often should I meet with my accountant throughout the year?
It is advisable to have a meeting at least once a quarter to review your financial position, discuss any changes in your circumstances, and plan for upcoming tax payments. Many accountants offer ongoing support and are available by phone or email whenever you have a question. Regular communication ensures that you are always prepared and that any issues are addressed promptly, rather than waiting until the year end.
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