
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
Why do contractors need specialist accountants rather than a general practitioner?
Contractors face unique tax rules including IR35, off-payroll working, and dividend taxation that general accountants may not handle daily. A specialist understands allowable expenses, salary and dividend optimisation, and HMRC compliance for personal service companies. This reduces risk, saves tax legally, and ensures accurate filings. General practitioners often lack this depth, which can lead to costly errors or missed planning opportunities.
What qualifications should a contractor accountant hold?
Look for ACCA, ICAEW, or AAT accreditation, as these bodies enforce strict ethical and technical standards. Members must complete continuing professional development and are recognised by HMRC as agents. This ensures your tax returns, VAT filings, and Corporation Tax computations are prepared correctly. Unregulated advisers may offer cheaper rates but often lack the expertise and insurance to protect you.
How can an accountant help with HMRC investigations?
A qualified accountant can act as your agent before HMRC, handle correspondence, and present your records clearly. They ensure all income, expenses, and claims are substantiated, reducing the risk of penalties. If an enquiry arises, they manage the process professionally, buying you time and peace of mind. Their knowledge of HMRC procedures often leads to faster, more favourable resolutions.
What is the difference between ACCA, ICAEW, and AAT accountants?
ACCA and ICAEW are chartered bodies focused on audit, tax, and advisory services for limited companies and complex structures. AAT is a technician-level qualification often covering bookkeeping, payroll, and basic tax returns. Many firms employ a mix of these professionals. For contractors, any of these credentials indicate competence, but chartered accountants typically handle more advanced IR35 and Corporation Tax planning.
Do contractor accountants help with VAT and Making Tax Digital?
Yes, most contractor accountants handle VAT registration, returns, and Making Tax Digital compliance using approved software. They advise on flat rate schemes, cash accounting, and quarterly submissions. This ensures you meet HMRC deadlines and avoid penalties. They also reconcile VAT with your annual accounts, keeping everything consistent and audit-ready.
How do I choose the right accountant for my contractor business?
Compare credentials, experience with IR35 and limited companies, and client reviews. Use a directory to browse local firms and request quotes. Ask about software compatibility, response times, and whether they offer fixed monthly fees. A good accountant explains tax implications clearly, helps you plan ahead, and communicates proactively rather than only at year-end.
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