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 a contractor accountant do?
A contractor accountant manages tax and compliance affairs for freelancers and limited company directors. This includes preparing annual accounts, filing Corporation Tax returns, handling VAT, and completing Self Assessment. They also advise on IR35, dividends, and allowable expenses. Many contractor accountants offer fixed monthly fees covering all routine work, giving contractors certainty and saving time.
Why should I choose an ACCA or ICAEW qualified accountant?
ACCA and ICAEW qualifications are recognised marks of professional excellence. Accountants with these credentials have passed rigorous exams and adhere to strict ethical standards. They stay updated on HMRC legislation and tax changes, ensuring your affairs are handled correctly. Choosing a qualified accountant reduces risk and provides confidence that your tax return and company accounts meet legal requirements.
How do contractor accountants help with IR35?
Contractor accountants assess your working practices against IR35 rules to determine employment status for tax purposes. They review contracts, help with status determinations, and advise on compliant engagement structures. If you are inside IR35, they calculate deemed employment taxes and ensure correct payroll processing. Their guidance helps you avoid penalties and make informed decisions about assignments.
What is included in a typical contractor accountant package?
Most contractor accountant packages include company formation, annual accounts preparation, Corporation Tax filing, VAT returns, payroll for one director, and Self Assessment. Many also provide bookkeeping software, dividend paperwork, and IR35 contract reviews. Fees are usually fixed monthly, so you know the cost upfront. Always check exactly what is covered before engaging a firm.
How often do I need to submit a VAT return to HMRC?
VAT-registered businesses typically submit a VAT return to HMRC every three months. The return covers VAT charged on sales and VAT paid on purchases. Deadlines are usually one month and seven days after the end of the accounting period. Your accountant can file online, ensure accuracy, and help you claim allowable input tax.
Can AccountingFirms help me compare contractor accountants?
Yes. AccountingFirms lists verified, regulated accountants specialising in contractor services. You can browse local firms, review their credentials, and compare offerings such as fixed fees, IR35 support, and included services. The directory, established in 2019 and built by ICAEW and ACCA accountants, helps you find a suitable professional quickly and confidently.
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