
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 services do accountants for freelancers typically provide?
Accountants for freelancers usually offer a range of services including preparing and filing Self Assessment tax returns, bookkeeping, VAT returns, and Corporation Tax computations. They also provide tax planning advice, help with expense tracking, and can assist with setting up a limited company. Many accountants offer ongoing support throughout the year, ensuring you meet all deadlines and stay compliant with HMRC requirements. They can also advise on pension contributions and other tax-efficient strategies.
How can an accountant help me with my Self Assessment tax return?
An accountant can help you complete your Self Assessment tax return accurately and on time, reducing the risk of errors and penalties. They will review your income and expenses, identify allowable deductions, and ensure you are not paying more tax than necessary. They can also advise on payments on account and help you plan for your tax bill. By using a qualified professional, you gain peace of mind knowing your return is correct and fully compliant with HMRC rules.
Why should I choose an ACCA or ICAEW qualified accountant?
ACCA and ICAEW are prestigious professional bodies that require their members to meet rigorous standards of education, experience, and ethical conduct. Choosing an accountant with these qualifications ensures you are working with someone who has proven expertise and stays up to date with the latest tax legislation. They are also subject to ongoing professional development and disciplinary procedures, giving you confidence in the quality of advice you receive. This is particularly important when dealing with complex freelance tax matters.
What is the difference between a freelancer and a limited company contractor?
A freelancer typically operates as a sole trader, reporting business income on a Self Assessment tax return. A limited company contractor runs their business through a separate legal entity, paying Corporation Tax on profits and often taking a salary and dividends. Each structure has different tax implications, administrative responsibilities, and legal considerations. An accountant can help you decide which option is best for your circumstances, taking into account your income level, liability exposure, and long-term plans.
How can an accountant help with VAT registration and returns?
If your taxable turnover exceeds the VAT threshold, you must register for VAT with HMRC. An accountant can assist with the registration process, advise on the most suitable VAT scheme (such as flat rate or cash accounting), and prepare and submit your VAT returns. They can also help you understand which supplies are taxable and ensure you reclaim any input VAT correctly. This support is invaluable in maintaining compliance and avoiding costly mistakes.
Can an accountant help me if I have missed a tax deadline?
Yes, an accountant can help you if you have missed a tax deadline. They can assist in submitting any outstanding returns as soon as possible and advise on how to communicate with HMRC to mitigate penalties. They can also help you set up a payment plan if you owe tax and cannot pay in full. While they cannot guarantee that penalties will be waived, they can provide professional representation and guidance to resolve the situation efficiently.
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