
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 typically offer?
Accountants for freelancers usually provide a range of services including preparing and filing Self Assessment tax returns, managing VAT returns, and advising on allowable expenses. They can also help with bookkeeping, setting up a limited company, and preparing year-end accounts. Many offer ongoing support and advice on tax planning, ensuring you meet all HMRC deadlines and obligations.
How can an accountant help me with my Self Assessment tax return?
An accountant can ensure your Self Assessment tax return is completed accurately and submitted on time to HMRC. They will review your income and expenses to ensure you claim all legitimate deductions, potentially reducing your tax bill. They can also help you understand your payments on account and advise on how to manage your tax liabilities throughout the year.
Why should I choose an ACCA or ICAEW qualified accountant?
Choosing an accountant who is a member of a recognised professional body such as ACCA or ICAEW provides assurance of their expertise and ethical standards. These qualifications require rigorous training and ongoing professional development. It also means they are regulated, offering you protection and confidence that you are receiving advice from a competent and trustworthy professional.
What is the difference between a sole trader and a limited company for freelancers?
As a sole trader, you are personally responsible for your business debts and pay tax through Self Assessment. A limited company is a separate legal entity, meaning you pay Corporation Tax on profits and often take a salary and dividends. An accountant can explain the pros and cons of each structure, helping you decide which is most tax-efficient for your situation.
How does an accountant help with VAT registration and returns?
An accountant will advise you on whether you need to register for VAT, considering your turnover and business type. They can help you choose the right VAT scheme, such as Flat Rate or Annual Accounting, and ensure your VAT returns are submitted correctly and on time. They will also keep you updated on any changes to VAT rules and thresholds.
What should I look for when comparing accountants for freelancers?
When comparing accountants, consider their experience with freelancers in your industry, their qualifications, and the range of services they offer. Look at their fee structure and whether they provide ongoing support or just annual compliance. It is also wise to read client reviews and check if they are registered with a professional body like ACCA or ICAEW.
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