
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 I look for in a contractor accountant?
Look for recognised qualifications such as ACCA, ICAEW, or AAT, and ensure the firm specialises in contractor accounting. Check their experience with IR35, limited companies, and HMRC compliance. A good accountant will offer fixed monthly fees, proactive tax advice, and support with Self Assessment and VAT returns. Reading reviews and comparing providers on a directory helps you make an informed choice.
How do contractor accountants help with HMRC compliance?
Contractor accountants ensure your tax return is accurate and submitted on time, helping you avoid penalties. They calculate your Corporation Tax and VAT liabilities correctly, advise on allowable expenses, and represent you in HMRC enquiries. Their knowledge of IR35 rules helps determine your employment status, reducing the risk of investigations and ensuring you meet all reporting obligations.
Are ACCA or ICAEW accountants better for contractors?
Both ACCA and ICAEW accountants are highly qualified and regulated, offering excellent support for contractors. ICAEW members often focus on chartered accountancy, whilst ACCA professionals have a strong global presence. The best choice depends on your specific needs, such as industry experience or additional services. AAT-qualified accountants also provide excellent practical support for smaller contractors.
What is the difference between a contractor accountant and a general accountant?
A contractor accountant specialises in the needs of freelancers, consultants, and interim workers, including IR35, limited company accounts, and umbrella company payroll. A general accountant may handle a broader range of clients but lack specific contractor expertise. Choosing a specialist ensures you receive tailored advice on tax efficiency and compliance for your contracting business.
How much does a contractor accountant cost?
Fees vary depending on the services provided and the complexity of your affairs. Many contractor accountants offer fixed monthly packages covering bookkeeping, payroll, VAT returns, and annual accounts. Costs typically range from fifty to two hundred pounds per month. Comparing providers on a directory helps you find a competitive price for the level of support you require.
Can a contractor accountant help with Self Assessment?
Yes, contractor accountants prepare and file your Self Assessment tax return, ensuring all income and expenses are accurately reported. They advise on allowable deductions, calculate your tax liability, and submit the return to HMRC before the deadline. This reduces the risk of errors and penalties whilst saving you time and stress.
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