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 fixed fee accountant typically include in their pricing?
A fixed fee accountant usually includes specific services such as preparing your Self Assessment tax return, filing accounts with Companies House, and advising on VAT or Corporation Tax. The exact scope is agreed upfront in a letter of engagement, so you know exactly what is covered without hidden costs.
How do I know if an accountant is properly qualified?
Qualified accountants should hold membership with a recognised professional body such as ACCA, ICAEW, or AAT. You can verify their status on the relevant institute's register. These qualifications ensure the accountant has undergone rigorous training and adheres to strict ethical and professional standards.
Can a fixed fee accountant help with HMRC enquiries?
Yes, most fixed fee accountants offer support during HMRC enquiries, though this may be covered under a separate agreement. They can handle correspondence, prepare necessary documentation, and represent you before HMRC. It is important to clarify the terms regarding enquiry support when you agree the fixed fee.
What is the difference between a chartered accountant and a certified accountant?
Chartered accountants are typically members of ICAEW or ICAS, whilst certified accountants are members of ACCA. Both qualifications are highly respected and regulated. The main difference lies in the training pathways and specialisms, but both are fully qualified to handle tax returns, audits, and financial advice.
Do I need an accountant if I am a sole trader?
Whilst you can complete your Self Assessment tax return yourself, an accountant can save you time and help identify allowable expenses you might miss. A fixed fee accountant provides cost certainty and ensures your return is accurate, reducing the risk of HMRC penalties. Many sole traders find the investment worthwhile.
How often should I meet with my fixed fee accountant?
The frequency depends on your business needs. Many accountants offer quarterly or bi-annual reviews as part of their fixed fee package, with additional meetings available as required. Regular contact helps you stay on top of tax planning, VAT deadlines, and financial decisions throughout the year.
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