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 the financial affairs of freelancers and limited company directors. This includes preparing annual accounts, filing Corporation Tax returns, handling VAT, processing payroll, and advising on tax-efficient salary and dividend strategies. They also ensure compliance with HMRC rules and support contractors with IR35 assessments and Self Assessment submissions.
Why should I choose an ACCA or ICAEW qualified accountant?
ACCA and ICAEW qualified accountants have completed rigorous professional training and are regulated by recognised bodies. This ensures a high standard of technical knowledge and ethical conduct. They can act as agents for HMRC, handle complex tax matters, and provide reliable advice. Choosing a qualified professional reduces risk and gives confidence that your accounts are accurate and compliant.
How do I find a contractor accountant in Melbourne Derby?
You can find a contractor accountant in Melbourne Derby by browsing the AccountingFirms directory. The platform allows you to compare providers based on qualifications, services, and fees. Simply search for your location, review the listed firms, and contact those that match your needs. All professionals listed are verified and regulated, ensuring peace of mind.
What is the difference between Self Assessment and Corporation Tax?
Self Assessment is the system used by sole traders and individuals to report personal income to HMRC. Corporation Tax applies to limited companies and is calculated on company profits. Contractors operating through a limited company typically need to file both a Corporation Tax return and a personal Self Assessment. An accountant can manage both filings accurately and on time.
Can an accountant help with VAT registration and returns?
Yes, a qualified accountant can advise on whether VAT registration is mandatory or beneficial, handle the registration process with HMRC, and prepare and submit quarterly VAT returns. They ensure that you reclaim allowable input VAT and comply with Making Tax Digital requirements. This saves time and reduces the risk of errors or penalties.
How much does a contractor accountant cost?
Fees vary depending on the services required and the complexity of your affairs. Many contractor accountants offer fixed monthly packages covering accounts, payroll, VAT, and tax returns. It is advisable to compare providers on AccountingFirms to understand what is included. While cost matters, the value of expert advice often outweighs the fee.
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