
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 typically covers a pre-agreed set of services for a single annual price. This often includes preparing and filing your tax return, managing payroll, or handling VAT returns. The exact scope is defined in your engagement letter, ensuring you know exactly what is included without any surprise charges.
How do I know if an accountant is qualified?
Qualified accountants are usually members of professional bodies such as ACCA, ICAEW, or AAT. You can check their credentials by looking for their membership number on their profile or website. These bodies enforce strict ethical and professional standards, giving you confidence in the accountant's expertise and reliability.
Can a fixed fee accountant help with HMRC enquiries?
Yes, most fixed fee accountants include representation in the event of an HMRC enquiry as part of their service. This means they will handle all correspondence with HMRC on your behalf, saving you time and stress. Always confirm this is included in your fixed fee agreement before signing.
What is the difference between a tax return and Self Assessment?
A Self Assessment is the system HMRC uses to collect Income Tax from individuals who are not taxed automatically through their wages or pension. A tax return is the form you submit under this system. Your accountant will prepare and file this return to ensure you meet your legal obligations accurately.
Do I need a fixed fee accountant if I am a sole trader?
Yes, sole traders often benefit significantly from a fixed fee accountant. A professional can help you manage your Self Assessment tax return, claim allowable expenses, and plan for your tax bill. The fixed fee arrangement provides cost certainty, which is particularly helpful for businesses with variable income.
How do I switch to a fixed fee accountant?
Switching is straightforward. First, find a fixed fee accountant through the directory and request a quote. Once you agree terms, your new accountant will handle the transfer of your financial records from your previous provider. They will also notify HMRC of the change, ensuring a seamless transition.
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