
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 qualifications should I look for in a chartered accountant?
Look for qualifications from recognised bodies such as ICAEW, ACCA, or AAT. These indicate the accountant has passed rigorous exams and follows a strict code of ethics. Chartered status also requires ongoing professional development, ensuring your adviser stays current with tax law and accounting standards.
How can a chartered accountant help with my Self Assessment tax return?
A chartered accountant can prepare and submit your Self Assessment return to HMRC, ensuring all income and allowances are correctly reported. They help minimise your tax liability by identifying allowable deductions and reliefs, and they can handle correspondence with HMRC if your return is queried.
What is the difference between an accountant and a chartered accountant?
All chartered accountants are qualified accountants, but not all accountants hold chartered status. Chartered accountants have completed advanced training and examinations with bodies like ICAEW or ACCA. They must also adhere to stricter ethical guidelines and are subject to regular regulatory reviews.
Do I need a chartered accountant if I run a small business in Park Royal?
Yes, even small businesses benefit from chartered expertise. A chartered accountant can help with VAT registration, payroll, Corporation Tax, and cash flow forecasting. Their knowledge of local regulations and HMRC requirements can save you time and prevent costly mistakes as your business grows.
How often should I meet with my accountant in Park Royal?
Most businesses meet their accountant quarterly to review financial performance and plan for tax payments. However, you may need more frequent meetings during start-up phases, when applying for finance, or if your tax situation becomes complex. Your accountant will advise on a suitable schedule.
Can a chartered accountant help with HMRC investigations or audits?
Yes, chartered accountants are trained to represent clients during HMRC enquiries and audits. They can review your records, prepare responses, and negotiate on your behalf. Their professional status often reassures HMRC that your affairs are in order, which can help resolve issues more smoothly.
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