
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, look for recognised qualifications such as ACCA, ICAEW, or AAT membership. Experience with freelancers is also vital, as they will understand your specific tax obligations, including Self Assessment and VAT. Consider their communication style and availability, and check if they offer proactive advice on tax planning and business growth.
How can an accountant help me with my Self Assessment tax return?
An accountant will ensure your Self Assessment tax return is accurate and submitted on time to HMRC. They will help you identify all allowable expenses, calculate your tax liability correctly, and advise on payments on account. Their expertise reduces the risk of errors and penalties, giving you peace of mind.
Do I need to register for VAT as a freelancer?
If your taxable turnover exceeds the VAT threshold, you must register for VAT. An accountant can advise on whether voluntary registration is beneficial for your business. They will also help you manage VAT returns, understand input and output tax, and ensure compliance with HMRC regulations.
What is the difference between an ACCA and an ICAEW accountant?
Both ACCA and ICAEW are prestigious accountancy bodies. ACCA (Association of Chartered Certified Accountants) has a global focus, while ICAEW (Institute of Chartered Accountants in England and Wales) is known for its rigorous training. Both qualifications indicate a high level of expertise, but your choice may depend on your specific business needs.
Can an accountant help me with IR35 status and limited company taxation?
Yes, an accountant experienced with freelancers can assess your IR35 status and advise on whether operating through a limited company is tax-efficient. They will guide you on Corporation Tax, dividend payments, and payroll obligations, ensuring you remain compliant while optimising your income.
How often should I meet with my accountant to review my finances?
It is advisable to have a formal review at least once a year, but many freelancers benefit from quarterly or even monthly check-ins. Regular meetings help you stay on top of cash flow, tax planning, and changing regulations. Your accountant can also provide timely advice when your circumstances change.
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