
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 offer services such as preparing and filing Self Assessment tax returns, managing VAT registration and returns, bookkeeping, and providing advice on allowable expenses. They can also help with Corporation Tax if you operate through a limited company, and offer guidance on tax planning to minimise your liabilities while remaining fully compliant with HMRC.
How do I choose between an ACCA, ICAEW, or AAT qualified accountant?
All three qualifications indicate a high level of competence, but they differ in focus. ACCA and ICAEW members are chartered accountants with broad commercial expertise, while AAT qualified professionals are skilled in day-to-day bookkeeping and tax preparation. Your choice depends on the complexity of your freelance income and whether you need strategic advice or mainly compliance support.
Do I need to register for VAT as a freelancer?
You must register for VAT if your taxable turnover exceeds the current VAT threshold, which is £90,000. Even if your turnover is below this, you may choose to register voluntarily, especially if you supply services to VAT-registered clients. An accountant can help you decide whether voluntary registration is beneficial and manage your VAT returns to HMRC.
What records must I keep for my Self Assessment tax return?
You must keep records of all your income and expenses, including invoices, receipts, bank statements, and records of any business mileage. For most freelance income, you need to retain these records for at least five years after the 31 January submission deadline. Your accountant can help you set up a simple system to organise your records throughout the year.
How can an accountant help me with HMRC investigations?
If HMRC opens an enquiry into your tax return, an accountant can act as your representative, handling all communication with HMRC on your behalf. They will review your records, prepare a detailed response, and ensure that your rights are protected. Having professional support reduces stress and helps resolve the matter as efficiently as possible.
What is the difference between a sole trader and a limited company for freelancers?
As a sole trader, you are personally responsible for business debts and pay Income Tax on your profits through Self Assessment. A limited company is a separate legal entity, which means you pay Corporation Tax on profits and may be more tax-efficient if your earnings are high. An accountant can analyse your situation and advise on the best structure for your freelance work.
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