
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

MRC Accounting Services
Providing accounting services and solutions
AMSTOR ACCOUNTANTS LIMITED
Amstor Accountants Limited T/A Premier Accountants, Auditors and Tax Advisers want to help you pay less tax and keep more of the profit your business ...See More
Frequently asked questions
What does an accountant for a sole trader do?
An accountant for a sole trader handles your tax return, ensures you meet HMRC deadlines, and helps you claim all allowable expenses. They also provide bookkeeping services, VAT advice, and financial planning. By keeping your records accurate and up to date, they help you avoid penalties and make informed decisions about your business's future.
How do I choose between an ACCA, ICAEW, or AAT qualified accountant?
All three qualifications indicate a high level of competence, but the right choice depends on your needs. ACCA and ICAEW members are chartered accountants with extensive training, suitable for complex tax matters. AAT qualified accountants are excellent for bookkeeping and preparing accounts. Consider the size of your business and the complexity of your finances when deciding.
Do I need to register for VAT as a sole trader?
You must register for VAT if your taxable turnover exceeds the current threshold, which is £90,000. Even if you are below this limit, you can voluntarily register, which may be beneficial if you incur VAT on business purchases. An accountant can advise you on the best approach and help you complete the registration process with HMRC.
What is the deadline for submitting a Self Assessment tax return?
The deadline for submitting a paper tax return is 31 October following the end of the tax year. For online submissions, the deadline is 31 January. If you owe tax, it must be paid by 31 January as well. Your accountant will ensure your return is filed on time and that you pay the correct amount to HMRC.
Can an accountant help me with HMRC investigations?
Yes, an experienced accountant can represent you during an HMRC investigation. They will review your records, prepare the necessary documentation, and communicate with HMRC on your behalf. This reduces your stress and ensures that your rights are protected. Having professional support can often lead to a more favourable outcome.
How much does it cost to hire an accountant for a sole trader?
The cost varies depending on the complexity of your finances and the level of service you require. Some accountants charge a fixed monthly fee, while others bill hourly or annually. On average, sole traders might pay between £100 and £300 per month for ongoing support. It is advisable to request quotes from several firms to compare prices and services.
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