
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?
Freelancers should seek an accountant who is qualified with a recognised body such as ACCA, ICAEW, or AAT. It is also important to find someone with experience working with freelancers, as they will understand issues like cash flow, quarterly tax payments, and allowable expenses. A good accountant will offer proactive advice and be accessible throughout the year, not just at tax return time.
How can an accountant help with HMRC Self Assessment?
An accountant can prepare and submit your Self Assessment tax return accurately and on time, ensuring you meet HMRC deadlines. They will help you identify all allowable expenses and reliefs, reducing your tax liability. They can also deal with HMRC correspondence on your behalf and advise on payments on account, helping you manage your tax obligations without stress.
Are accountants who are ACCA or ICAEW qualified better than others?
Accountants who are ACCA or ICAEW qualified have undergone rigorous training and examinations, demonstrating a high level of competence and ethical standards. They are also required to complete continuing professional development, keeping their knowledge up to date. While other qualifications exist, these bodies are widely recognised and give clients confidence in the accountant’s abilities.
What is the difference between a freelance accountant and a general accountant?
A freelance accountant specialises in the needs of self-employed individuals and contractors. They understand the specific tax rules that apply to freelancers, such as the trading allowance, IR35, and allowable expenses. A general accountant may have broader knowledge but might not be as familiar with the nuances of freelance income. Choosing a specialist ensures tailored advice.
Can an accountant help if I am behind on my tax returns?
Yes, an experienced accountant can assist you in getting your tax affairs up to date. They will review your records, prepare outstanding returns, and submit them to HMRC. They can also negotiate with HMRC to reduce any penalties that have accrued, provided there is a reasonable excuse. Acting promptly with professional help is the best way to resolve arrears.
How much does it cost to use an accountant for freelancers?
The cost varies depending on the complexity of your affairs and the level of service required. Many accountants offer fixed fees for annual accounts and tax returns, with monthly payment plans available. Some charge an hourly rate for ad hoc advice. It is advisable to request quotes from several firms and compare what is included in the fee.
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