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 cover?
A fixed fee accountant provides a set price for a defined scope of services, such as preparing your tax return, managing VAT returns, or handling Corporation Tax. This arrangement avoids surprise hourly charges and allows you to budget accurately. Always confirm the exact services included in your fixed fee agreement before engaging a professional.
How do I find an ACCA or ICAEW accountant in East Mayfield?
You can use AccountingFirms to filter accountants by their professional body, such as ACCA, ICAEW, or AAT. Simply enter East Mayfield as your location and select the relevant accreditation. This ensures you connect with a regulated expert who meets high standards of training and ethics.
Can a fixed fee accountant help with HMRC enquiries?
Yes, many fixed fee accountants offer support for HMRC enquiries, including tax investigations and correspondence. Some may include this within their fixed fee package, whilst others charge separately. It is important to discuss this upfront to understand what protection you have in the event of an HMRC review.
What is the difference between a fixed fee and hourly rate?
A fixed fee is a single, agreed price for a specific set of services, providing cost certainty. An hourly rate charges for the actual time spent, which can lead to variable costs. Fixed fee arrangements are popular for routine work like Self Assessment or annual accounts, as they remove financial uncertainty.
Do I need a VAT-registered accountant for my business?
If your business turnover exceeds the VAT threshold, or if you voluntarily register for VAT, it is wise to use an accountant experienced in VAT compliance. A fixed fee accountant can manage your VAT returns, advise on schemes, and ensure you meet HMRC deadlines, saving you time and reducing errors.
How often should I meet with my fixed fee accountant?
The frequency depends on your needs. Many clients meet quarterly for VAT and management accounts, or annually for tax returns and year-end accounts. A fixed fee arrangement often includes a set number of meetings or consultations, so clarify this when you agree the terms with your accountant.
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