
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 should I look for in a contractor accountant?
Look for recognised qualifications such as ACCA, ICAEW, or AAT, and experience with contractor-specific issues like IR35 and limited company accounts. Ensure they are regulated and can handle HMRC compliance, VAT, and Self Assessment. Reading reviews and comparing services on a directory like AccountingFirms can help you choose a professional suited to your needs.
How can an accountant help with IR35 compliance?
An accountant can assess your working practices to determine your IR35 status, review contracts, and advise on whether you fall inside or outside the rules. They can also help you structure your engagements to minimise risk and ensure you meet HMRC requirements. With expert guidance, you can avoid penalties and make informed decisions about your business.
What are the benefits of hiring an ACCA-qualified accountant?
ACCA-qualified accountants have undergone rigorous training and adhere to strict ethical standards. They possess in-depth knowledge of tax, accounting, and business advisory services, ensuring your affairs are handled professionally. Their expertise can help you optimise tax efficiency, meet HMRC deadlines, and focus on your contracting work with confidence.
Do I need to register for VAT as a contractor?
You must register for VAT if your taxable turnover exceeds the HMRC threshold. Even if below it, voluntary registration can be beneficial if you have significant expenses or work with VAT-registered clients. An accountant can advise on the best approach for your circumstances and handle VAT returns accurately and on time.
How often do I need to submit a Self Assessment tax return?
Self Assessment tax returns are typically submitted annually to HMRC, with a deadline of 31 January following the end of the tax year. However, you may need to make payments on account. An accountant can ensure your return is accurate, claim all allowable expenses, and help you avoid penalties for late filing.
Can an accountant help me choose between a limited company and sole trader?
Yes, an accountant can analyse your income, expenses, and future plans to recommend the most tax-efficient structure. They will consider factors like Corporation Tax, National Insurance, and administrative requirements. Whether you operate as a sole trader or limited company, professional advice ensures you make the right choice for your contracting business.
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