
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 specific services do accountants for freelancers offer?
Accountants for freelancers typically provide a range of services including preparation and submission of Self Assessment tax returns, bookkeeping, VAT registration and returns, and advice on allowable expenses. They also help with tax planning, setting up a limited company, and ensuring you meet all HMRC deadlines. Many offer ongoing support throughout the year, not just at tax time.
How can an accountant help me with my Self Assessment tax return?
An accountant will ensure your Self Assessment tax return is completed accurately and submitted on time to HMRC. They will review your income and expenses to identify all legitimate deductions, potentially reducing your tax bill. They can also advise on payments on account and help you plan for your tax liabilities, avoiding any unexpected surprises.
Do I need an accountant if I am a freelancer?
While it is not a legal requirement, having an accountant is highly beneficial for most freelancers. An accountant saves you time, helps you avoid costly mistakes, and can often save you more money than their fee costs. They provide peace of mind and allow you to focus on your work, knowing your tax affairs are in order.
What qualifications should I look for in an accountant?
Look for an accountant who is a member of a recognised professional body such as ACCA, ICAEW, or AAT. These qualifications ensure the accountant has undergone rigorous training and adheres to strict ethical and professional standards. Membership also means they are required to maintain their knowledge through continuing professional development, keeping up to date with tax laws.
How does an accountant help with VAT if I am a freelancer?
If your taxable turnover exceeds the VAT threshold, you must register for VAT. An accountant can advise you on whether registration is compulsory or voluntary, help you choose the right VAT scheme, and manage your VAT returns. They ensure you claim the correct input tax and charge the right output tax, keeping you compliant with HMRC.
Can an accountant help me if I have missed an HMRC deadline?
Yes, an accountant can assist you if you have missed a deadline. They will help you file your return as soon as possible and communicate with HMRC on your behalf. They can also advise on penalties and potentially help you appeal against them if you have a reasonable excuse. Early professional involvement is key to minimising any negative consequences.
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