
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 scope of services for a set price. This often includes preparing annual accounts, completing tax returns, and handling HMRC correspondence. The exact services depend on your needs and the agreement with the accountant, ensuring no surprise costs.
How do I know if an accountant is qualified?
Qualified accountants hold recognised professional accreditations such as ACCA, ICAEW, or AAT. These bodies require members to meet strict training and ethical standards. You can verify an accountant’s credentials by checking their membership number on the relevant professional body’s website.
Can a fixed fee accountant help with HMRC enquiries?
Yes, a fixed fee accountant can represent you during HMRC enquiries or tax investigations, provided this is included in your service agreement. Many fixed fee packages cover basic HMRC correspondence, though complex enquiries may require additional fees. Always confirm the scope before engaging.
Is a fixed fee arrangement suitable for a limited company?
Yes, fixed fee accounting is popular among limited companies as it provides predictable costs for services like Corporation Tax returns, VAT filings, and payroll. This arrangement helps directors budget accurately and avoids unexpected charges for routine compliance work throughout the financial year.
What is the difference between a fixed fee and hourly billing?
With a fixed fee, you pay a set amount for agreed services regardless of the time taken. Hourly billing charges based on the actual time spent, which can lead to variable costs. Fixed fee accounting offers greater budget certainty and is often preferred by small businesses and sole traders.
How do I switch to a fixed fee accountant in Hampshire?
Switching is straightforward. You first choose a new accountant and sign their engagement letter. They will then handle the professional clearance process with your previous accountant and request your financial records. This ensures a smooth transition with minimal disruption to your tax filing deadlines.
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