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 an ecommerce accountant?
Look for ACCA, ICAEW, or AAT accreditation, experience with online retail platforms, and knowledge of VAT rules for digital goods. They should understand stock valuation, multi-currency accounting, and HMRC compliance. A good ecommerce accountant will also offer cloud-based software integration and proactive tax planning advice.
Do ecommerce accountants handle VAT returns?
Yes, they specialise in VAT returns for online businesses, including cross-border sales and marketplace obligations. They ensure correct rates are applied, help with VAT registration, and manage submissions to HMRC. This prevents penalties and optimises cash flow by reclaiming input VAT on eligible purchases.
How often should I meet with my ecommerce accountant?
Quarterly meetings are recommended to review financial performance, update forecasts, and discuss tax planning. Monthly check-ins may suit fast-growing businesses. Your accountant should be available for ad hoc queries, especially during peak trading periods or when HMRC correspondence arises.
Can an ecommerce accountant help with Self Assessment?
Absolutely. They prepare and file your Self Assessment tax return, ensuring all income from online sales is declared correctly. They identify allowable expenses such as platform fees, advertising costs, and home office use. This reduces your tax liability and keeps you compliant with HMRC deadlines.
What is Corporation Tax for ecommerce businesses?
Corporation Tax is payable on your company's profits, including income from online sales. An ecommerce accountant calculates the correct amount, claims all available reliefs, and submits the return to HMRC. They also advise on timing of purchases and dividends to minimise the tax charge.
How do I choose between a local or online ecommerce accountant?
Both can be effective, but a local accountant in Sandwich. Kent offers face-to-face meetings and knowledge of local business networks. Online accountants may provide lower fees and flexible hours. Prioritise accreditation, ecommerce experience, and communication style. Many firms now offer hybrid services combining local presence with digital tools.
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