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?
Contractors face distinct tax rules, including IR35, dividend taxation and allowable expense claims. A specialist accountant understands these areas and can structure remuneration tax-efficiently. They prepare statutory accounts, file Corporation Tax and Self Assessment returns, and ensure compliance with HMRC. This reduces the risk of penalties and often saves more than the accountancy fee itself, whilst giving contractors confidence that their financial affairs are handled correctly.
What qualifications should a contractor accountant hold?
Look for accountants regulated by recognised bodies such as ICAEW, ACCA or AAT. These qualifications indicate completed professional training, ongoing CPD and adherence to ethical standards. ICAEW and ACCA members can act as agents for HMRC and file tax returns on your behalf. AAT-qualified professionals often specialise in bookkeeping and VAT. Choosing a regulated accountant ensures you receive competent, up-to-date advice on tax and compliance matters.
How do contractor accountants help with IR35?
IR35 determines whether a contractor is taxed as employed or self-employed for tax purposes. Accountants review contracts, working practices and client relationships to assess status. They advise on whether a contract falls inside or outside IR35 and help document evidence. If inside, they calculate deemed employment taxes and file the necessary returns with HMRC. This proactive support helps contractors avoid unexpected tax liabilities and penalties.
What does a typical contractor accountancy service include?
Most contractor accountants provide annual accounts preparation, Corporation Tax returns, Self Assessment filing, VAT returns and payroll services. Many also offer bookkeeping software, dividend planning, expense reviews and company formation advice. Some firms include IR35 contract reviews and HMRC investigation support. Service levels vary, so compare providers carefully. A comprehensive package should cover all statutory obligations and offer proactive tax planning throughout the year.
How can I compare contractor accountants in River Tyne?
AccountingFirms allows you to browse local firms, review their credentials and compare service offerings. Check whether accountants are regulated by ICAEW, ACCA or AAT, and confirm they specialise in contractor accounting. Read descriptions of their packages, fees and additional support such as IR35 reviews. The directory helps you shortlist suitable providers and connect directly, making it easier to choose an accountant who meets your needs.
Are contractor accountants able to file tax returns with HMRC?
Yes. Regulated accountants can register as agents with HMRC and file Corporation Tax, VAT and Self Assessment returns electronically on your behalf. They ensure submissions are accurate and on time, reducing the risk of penalties. Accountants also handle correspondence from HMRC, respond to enquiries and keep records of filings. This saves contractors considerable time and provides reassurance that all obligations are fulfilled correctly.
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