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 a contractor look for in an accountant?
A contractor should seek an accountant with specific experience in contractor affairs, including IR35, limited company accounts, and dividend planning. Professional qualifications such as ACCA, ICAEW, or AAT indicate a high standard of training and ethical conduct. It is also important to check that the accountant is regulated and familiar with HMRC requirements for freelancers and consultants.
How can an accountant help with HMRC compliance?
An accountant ensures that all tax returns and payments are submitted accurately and on time to HMRC. They advise on allowable expenses, VAT registration, and Corporation Tax obligations, helping contractors avoid penalties. By keeping up to date with changing legislation, a qualified professional can also identify legitimate reliefs and ensure that Self Assessment filings are correct and fully compliant.
Why is IR35 important for contractors?
IR35 determines whether a contractor is considered employed or self-employed for tax purposes. If a contract falls inside IR35, the contractor may be subject to employment taxes. An experienced accountant can review contracts and working practices to assess IR35 status, helping contractors structure their engagements correctly and avoid unexpected tax liabilities or HMRC investigations.
What qualifications should a contractor accountant hold?
A reputable contractor accountant should hold a recognised qualification such as ACCA, ICAEW, or AAT. These credentials demonstrate that the professional has met rigorous education and experience requirements. Membership of a professional body also ensures ongoing training and adherence to ethical standards, giving contractors confidence that their financial affairs are managed by a competent and regulated expert.
How does AccountingFirms help contractors find an accountant?
AccountingFirms is a directory that allows contractors to browse and compare verified accounting firms. Established in 2019 and built by ICAEW and ACCA accountants, the platform lists professionals specialising in contractor services. Users can filter by location, specialism, and client reviews to find a suitable accountant and connect directly with firms that meet their needs.
What ongoing support can a contractor expect from an accountant?
A contractor accountant typically provides ongoing support with bookkeeping, payroll, VAT returns, and annual accounts. They offer advice on tax planning, expenses, and dividends throughout the year. Many also handle HMRC correspondence and ensure that Self Assessment and Corporation Tax filings are accurate. This continuous guidance helps contractors remain compliant and financially efficient as their business evolves.
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