
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 should contractors use a specialist accountant rather than a general bookkeeper?
Contractors face specific rules around IR35, dividend taxation and allowable expenses that general bookkeepers may not fully understand. A specialist accountant can structure remuneration efficiently, ensure compliance with HMRC and reduce the risk of penalties. Professional advice often saves more than the fee charged, particularly for limited company directors and freelancers with variable income.
What qualifications should I look for in a contractor accountant?
Look for membership of recognised bodies such as ACCA, ICAEW or AAT. These organisations require strict ethical standards, ongoing training and professional indemnity. A qualified accountant will accurately handle Self Assessment, VAT returns and Corporation Tax, giving contractors confidence that their financial affairs are managed correctly and in line with current legislation.
How does IR35 affect contractors and their tax position?
IR35 determines whether a contractor is genuinely self-employed or effectively an employee for tax purposes. If caught inside IR35, income may be taxed similarly to employment, reducing take-home pay. An experienced accountant can review contracts, advise on working practices and help contractors demonstrate compliance with HMRC rules to avoid unexpected liabilities.
What services do contractor accountants typically provide?
Most contractor accountants prepare annual accounts, file tax returns, manage VAT and Corporation Tax, process payroll and offer dividend planning. Many also provide IR35 contract reviews, CIS support and Making Tax Digital guidance. These services ensure contractors remain compliant whilst optimising their tax position throughout the year.
How can I compare accountants before choosing one?
Using a directory such as AccountingFirms allows contractors to browse qualified professionals, review specialisms and compare fees and services. Checking accreditation with ACCA, ICAEW or AAT, reading client feedback and confirming experience with contractor-specific issues helps ensure the chosen firm meets individual needs and budget.
Are accountant fees tax deductible for contractors?
Yes, professional accountancy fees are generally allowable business expenses for sole traders and limited companies, provided they relate to business accounts, tax returns or payroll. This means the cost of engaging a qualified accountant can often be offset against taxable profits, making professional support more affordable for contractors.
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