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 for limited company directors?
A contractor accountant manages statutory accounts, Corporation Tax returns, VAT filings, and payroll for limited company directors. They advise on salary and dividend planning, IR35 compliance, and allowable expenses. Many also handle HMRC correspondence and ensure Making Tax Digital requirements are met. This support reduces risk and helps directors remain compliant whilst focusing on their contract work.
Why should contractors choose an ACCA or ICAEW qualified accountant?
ACCA and ICAEW qualifications signal rigorous training and ongoing professional development. Regulated accountants must follow ethical standards and maintain technical knowledge. For contractors, this means accurate tax returns, reliable advice on IR35 and VAT, and confidence that HMRC requirements are fulfilled. Choosing a qualified professional reduces the risk of errors and penalties.
How do contractor accountants help with Self Assessment and HMRC?
Contractor accountants prepare and file Self Assessment tax returns, calculate liabilities, and claim allowable expenses. They communicate with HMRC on your behalf, handle queries, and ensure deadlines are met. This reduces stress and helps avoid penalties. Many also provide advice on payments on account and tax planning throughout the year.
What is IR35 and how can an accountant assist?
IR35 determines whether a contractor is taxed as employed or self-employed for tax purposes. An accountant reviews contracts and working practices, advises on status, and helps structure engagements compliantly. They can calculate deemed employment taxes if applicable and liaise with HMRC. This support is essential for contractors using personal service companies.
Can a contractor accountant help with VAT registration and returns?
Yes. Accountants advise on whether VAT registration is mandatory or beneficial, manage registration with HMRC, and prepare VAT returns. They ensure correct schemes are applied, such as Flat Rate or Cash Accounting, and that Making Tax Digital rules are followed. This reduces administrative burden and helps avoid penalties.
How does AccountingFirms help contractors find suitable accountants?
AccountingFirms lists verified, regulated accountants and allows users to browse local firms, compare providers, and filter by accreditation such as ACCA, ICAEW, or AAT. Established in 2019 and built by ICAEW and ACCA accountants, the directory connects contractors with professionals experienced in IR35, VAT, and Self Assessment.
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