
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 qualifications such as ACCA, ICAEW, or AAT, and experience with contractor-specific issues like IR35, limited company accounts, and dividend planning. Check that the firm is regulated and offers proactive tax advice. Reading reviews and comparing services on a directory can help you find a professional who understands your industry and can support your financial goals.
How can a contractor accountant help with HMRC compliance?
A qualified accountant ensures your Self Assessment tax return, VAT returns, and Corporation Tax filings are accurate and submitted on time. They can advise on allowable expenses, tax-efficient remuneration, and HMRC investigations. By keeping up to date with legislation, they help you avoid penalties and ensure you meet all obligations as a contractor.
Are ACCA or ICAEW accountants better for contractors?
Both ACCA and ICAEW accountants are highly qualified and regulated. The best choice depends on your specific needs and the accountant's experience with contractors. Many firms employ professionals with both qualifications. It is advisable to compare several accountants, check their specialisms, and read client reviews to find the right fit for your contracting business.
What is IR35 and why does it matter for contractors?
IR35 is legislation designed to ensure contractors who work like employees pay similar tax. It affects how you are taxed and can have significant financial implications. A specialist contractor accountant can review your contracts and working practices, advise on IR35 status, and help you structure your affairs compliantly, reducing the risk of HMRC challenges.
How much does a contractor accountant typically cost?
Fees vary depending on the level of service and the firm's location. Many contractor accountants offer fixed monthly packages covering bookkeeping, payroll, VAT returns, and annual accounts. It is wise to compare quotes and ensure the service includes everything you need. Some firms also offer additional services like tax planning and HMRC representation.
Can I switch accountants mid-year?
Yes, you can switch accountants at any time. The process usually involves informing your current accountant, settling any outstanding fees, and providing your new accountant with access to your records. A professional firm will handle the transition smoothly, ensuring continuity and compliance. It is best to choose a firm experienced in contractor accounting to avoid disruption.
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