
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

Oakes Accounting
Oakes Accounting specializes in providing tailor made accounting services, including bookkeeping, VAT and self assessment to small businesses.
Frequently asked questions
What should I look for when choosing an accountant for my freelance business?
When choosing an accountant, look for someone who is qualified and regulated by a recognised body such as ACCA, ICAEW, or AAT. Check that they have experience working with freelancers in your specific industry. Consider their communication style and whether they offer proactive advice. It is also wise to review their fees and ensure there are no hidden charges. A good accountant will help you with tax planning, not just tax return preparation.
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, ensuring you meet all HMRC deadlines. They will identify all allowable expenses and reliefs you are entitled to, which can reduce your tax bill. They can also advise you on payments on account and help you plan for future tax liabilities. This service saves you time and reduces the risk of costly errors.
Do I need to be VAT-registered as a freelancer?
You must register for VAT if your taxable turnover exceeds the current threshold, which is £90,000. Even if your turnover is below this, you may choose to register voluntarily, especially if you supply services to other VAT-registered businesses. An accountant can advise you on whether voluntary registration is beneficial for your situation and can handle your VAT returns and record keeping.
What is the difference between ACCA, ICAEW, and AAT qualifications?
ACCA and ICAEW are chartered accountancy bodies, and their members are fully qualified chartered accountants. AAT is a professional body for accounting technicians, and its members often work towards full chartered status. All three qualifications require rigorous training and adherence to ethical standards. The main difference lies in the level of qualification and the scope of work each can undertake.
Can an accountant help me if I operate as a limited company?
Yes, an accountant can provide invaluable assistance if you operate as a limited company. They can help you with Corporation Tax returns, company accounts, and payroll if you take a salary. They can also advise on dividend payments and tax-efficient ways to extract profits. This ensures that you remain compliant with Companies House and HMRC requirements while minimising your tax liabilities.
How often should I meet with my accountant?
You should meet with your accountant at least once a year to review your annual accounts and tax return. However, many freelancers benefit from more frequent contact, such as quarterly meetings to discuss cash flow and tax planning. Your accountant should be available throughout the year for advice and to answer any questions that arise. Regular communication helps you stay on top of your finances and avoid surprises.
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