
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 specialises in the financial affairs of freelancers, consultants, and limited company directors. They handle bookkeeping, payroll, VAT returns, and year-end accounts, whilst offering tax planning advice tailored to IR35 and dividend strategies. Their expertise ensures compliance with HMRC rules and helps contractors minimise tax liabilities legally and efficiently.
Why should I choose an ACCA or ICAEW qualified accountant?
ACCA and ICAEW qualified accountants have completed rigorous training and adhere to strict ethical standards. Their credentials are recognised globally, and they must undertake continuing professional development to stay current with tax legislation. Engaging a qualified professional ensures your accounts are accurate, your tax return is compliant, and you receive reliable advice on Corporation Tax and Self Assessment.
How can an accountant help with HMRC investigations?
If HMRC opens an enquiry into your tax affairs, a qualified accountant can represent you and liaise directly with the tax authority. They will prepare the necessary documentation, clarify your position, and negotiate on your behalf. Their expertise reduces stress and helps achieve a fair resolution whilst ensuring you meet all your obligations under tax law.
What is the difference between a sole trader and a limited company accountant?
Sole trader accountants focus on Self Assessment, allowable expenses, and Class 2 and 4 National Insurance. Limited company accountants handle Corporation Tax, PAYE, dividends, and statutory accounts. Both require knowledge of VAT and HMRC reporting. Choosing the right specialist depends on your business structure and long-term goals.
How often should I submit a VAT return?
Most VAT-registered businesses must submit a VAT return to HMRC every three months. The return covers the VAT you have charged on sales and the VAT you have paid on purchases. Deadlines are typically one month and seven days after the end of the accounting period. An accountant can manage this process to avoid penalties.
Can an accountant help reduce my tax bill legally?
Yes, a qualified accountant can identify legitimate tax reliefs, allowances, and expenses that reduce your taxable profit. They may advise on pension contributions, capital allowances, or incorporating your business. All strategies comply with HMRC rules, ensuring you pay the correct amount of tax whilst maximising your take-home pay.
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