
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 does an accountant for sole traders do?
An accountant for sole traders manages your Self Assessment tax return, ensures you claim all allowable expenses, and advises on tax planning. They also help with bookkeeping, VAT returns, and can represent you if HMRC enquires into your tax affairs. Their expertise saves you time and reduces the risk of costly errors.
How do I choose a qualified accountant in Hanham Bristol?
Look for accountants who hold recognised qualifications from bodies such as ACCA, ICAEW, or AAT. Check their experience with sole traders and ask about their fee structure. You can also read client reviews and compare services on directories like AccountingFirms to make an informed choice.
Are accountants for sole traders expensive?
Fees vary depending on the complexity of your financial situation and the level of service you require. Many accountants offer fixed monthly packages that include tax return preparation and advice. The cost is often outweighed by the tax savings and the time you save, making professional help a worthwhile investment.
What records do I need to keep for my sole trader accountant?
You should keep records of all income and expenses, including receipts, invoices, bank statements, and details of any business mileage. If you are VAT-registered, you also need to maintain a VAT account. Your accountant can guide you on the specific records required for your business.
Can an accountant help me with HMRC investigations?
Yes, a qualified accountant can represent you during an HMRC investigation. They will handle all correspondence, prepare the necessary documentation, and ensure your rights are protected. Having professional support reduces stress and helps achieve a favourable outcome, especially if errors have been made.
Do sole traders need to be VAT-registered?
You must register for VAT if your taxable turnover exceeds the current threshold. Even if you are below this limit, you may choose to register voluntarily. An accountant can advise on whether voluntary registration is beneficial for your business and manage your VAT returns efficiently.
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