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 services do contractor accountants typically provide?
Contractor accountants usually offer limited company accounts preparation, Self Assessment tax returns, VAT registration and filing, payroll services, dividend planning, and IR35 compliance advice. They also handle Corporation Tax calculations and submissions to HMRC. Many provide fixed-fee packages covering annual accounts, bookkeeping, and tax planning, ensuring contractors remain compliant whilst minimising tax liabilities. Services are tailored to freelancers, consultants, and interim professionals operating through limited companies or umbrella arrangements.
Why should I choose an ACCA or ICAEW qualified accountant?
ACCA and ICAEW qualified accountants have completed rigorous professional training and adhere to strict ethical standards. They must maintain continuing professional development to stay current with HMRC legislation and tax changes. Choosing a qualified professional ensures your accounts are prepared accurately, deadlines are met, and you receive reliable advice on VAT, Corporation Tax, and Self Assessment. Regulated accountants also provide indemnity insurance and are subject to oversight, offering greater protection and peace of mind.
How do contractor accountants help with IR35 compliance?
Contractor accountants assess your working arrangements to determine whether contracts fall inside or outside IR35 rules. They review contract terms, working practices, and client relationships, then advise on appropriate tax treatment. If a contract is deemed inside IR35, accountants calculate deemed employment taxes and ensure accurate reporting through payroll or Self Assessment. They also help with status determination statements and provide guidance on mitigating risk whilst maintaining compliance with HMRC requirements.
What is the difference between a contractor accountant and a general accountant?
Contractor accountants specialise in the tax and compliance needs of freelancers, consultants, and interim professionals. They understand IR35, dividend planning, allowable expenses specific to contractors, and limited company structures. General accountants may focus on sole traders, partnerships, or larger businesses. A specialist contractor accountant provides tailored advice on salary and dividend mixes, VAT schemes, and HMRC reporting requirements relevant to contract work, ensuring tax efficiency and compliance.
How much do contractor accountants charge for their services?
Fees vary depending on the level of service and complexity of your affairs. Many contractor accountants offer fixed monthly packages starting from around fifty to one hundred and fifty pounds, covering annual accounts, payroll, VAT returns, and Self Assessment. Some charge separately for additional services such as bookkeeping or tax planning. It is advisable to compare providers on AccountingFirms to understand what is included and select a package that matches your requirements and budget.
Can contractor accountants help with Self Assessment and tax returns?
Yes, contractor accountants prepare and file Self Assessment tax returns, ensuring all income, expenses, and allowances are correctly reported to HMRC. They calculate tax liabilities, claim allowable expenses, and submit returns before the deadline to avoid penalties. Accountants also advise on payments on account, dividend declarations, and any reliefs available. Their expertise ensures accuracy and helps contractors meet their legal obligations whilst optimising their tax position.
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