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, consultants and limited company directors. Duties include preparing statutory accounts, filing Corporation Tax and VAT returns, handling payroll, reviewing IR35 status and advising on dividends and expenses. They ensure compliance with HMRC rules and help contractors keep more of their income through legitimate tax planning.
Why should I choose an ACCA or ICAEW qualified accountant?
ACCA and ICAEW qualifications demonstrate rigorous training, ethical standards and up-to-date technical knowledge. Regulated accountants must follow strict professional rules and continuous development. Choosing a qualified professional reduces the risk of errors, penalties and poor advice, giving contractors confidence that their tax returns and accounts are accurate and compliant with HMRC requirements.
How do contractor accountants help with IR35?
Contractor accountants review contracts and working practices to assess IR35 status. They explain the differences between inside and outside IR35 engagements, calculate deemed employment taxes where necessary and recommend compliant contract wording. This support helps contractors avoid unexpected HMRC investigations and ensures the correct tax treatment for each assignment.
What is included in a typical contractor accounting package?
Most packages include company formation, bookkeeping, statutory accounts, Corporation Tax returns, VAT returns, payroll, Self Assessment tax returns and IR35 contract reviews. Some firms also offer software subscriptions, dividend planning and HMRC correspondence handling. Packages vary, so compare providers on AccountingFirms to find the right fit for your turnover and needs.
How much do contractor accountants charge?
Fees depend on the services included, company size and complexity. Basic packages often start from a fixed monthly fee covering accounts, payroll and tax returns. Additional services such as bookkeeping or IR35 reviews may cost extra. Comparing quotes from several firms featured in the directory helps contractors find transparent pricing that suits their budget.
Can contractor accountants help with Self Assessment?
Yes. Contractor accountants prepare and file Self Assessment tax returns, calculate income tax and National Insurance liabilities, and identify allowable expenses and reliefs. They also handle payments on account and correspondence with HMRC. This ensures deadlines are met and reduces the stress of managing complex tax affairs personally.
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