
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 from bodies such as ACCA, ICAEW, or AAT. Check their experience with freelancers and their understanding of Self Assessment and VAT. Consider their communication style and whether they offer proactive advice. Reading client reviews and comparing services can help you find a professional who matches your needs and provides reliable year-round support.
How can an accountant help me with my Self Assessment tax return?
An accountant can prepare and submit your Self Assessment tax return accurately and on time. They will identify allowable expenses you may have missed, ensure your records are correct, and calculate your tax liability. They can also advise on payments on account and help you plan for future tax bills, reducing the risk of penalties from HMRC.
Do I need to be VAT-registered as a freelancer?
VAT registration is mandatory if your taxable turnover exceeds the current threshold. However, you may choose to register voluntarily if it benefits your business. An accountant can assess your turnover, advise on whether voluntary registration is advantageous, and help you complete VAT returns and manage your obligations to HMRC efficiently.
What are the benefits of using an ACCA or ICAEW qualified accountant?
ACCA and ICAEW qualified accountants have undergone extensive training and adhere to strict professional standards. They are regulated and must maintain their knowledge through continuing professional development. This ensures they provide accurate, up-to-date advice on tax legislation and financial matters. Using such a professional gives you confidence that your accounts are prepared correctly and your tax affairs are handled competently.
How often should I meet with my accountant?
Most freelancers benefit from meeting their accountant at least once a quarter, though some prefer monthly check-ins. Regular meetings allow you to review your cash flow, discuss upcoming tax deadlines, and plan for business growth. Your accountant can also provide advice on new regulations or changes in your circumstances. The frequency depends on your business complexity and personal preference.
Can an accountant help me if I have missed a tax deadline?
Yes, an accountant can assist you if you have missed a tax deadline. They can help you file your return as quickly as possible and communicate with HMRC on your behalf. They may also help you negotiate a payment plan if you owe tax and cannot pay in full. Acting promptly with professional guidance can minimise penalties and interest charges.
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