
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 the price?
A fixed fee accountant usually covers services such as preparing annual accounts, completing tax returns, and providing basic tax advice. The exact scope is agreed in advance, so you know what is included. Additional services like VAT returns or payroll may be charged separately or added to the fixed fee package.
How do I know if an accountant is properly regulated?
Regulated accountants are members of recognised professional bodies such as ACCA, ICAEW, or AAT. You can verify their status on the respective organisation's website. Firms listed on AccountingFirms are verified, ensuring they hold valid practising certificates and comply with ethical standards.
Can a fixed fee accountant help with HMRC investigations?
Yes, many fixed fee accountants offer support during HMRC enquiries, though this may be covered under a separate agreement or included in a premium package. It is important to clarify this before engaging their services. They can represent you, prepare necessary documents, and negotiate with HMRC on your behalf.
What is the difference between a fixed fee and an hourly rate accountant?
A fixed fee accountant charges a set amount for agreed services, providing cost certainty. An hourly rate accountant bills for time spent, which can lead to unpredictable costs. Fixed fee arrangements are popular with small businesses and individuals who prefer straightforward budgeting without worrying about escalating charges.
Do I need an accountant if I am self-employed?
While not legally required, an accountant can save you time and help you avoid costly mistakes on your Self Assessment tax return. They ensure you claim all allowable expenses and meet HMRC deadlines. A fixed fee accountant offers affordable support tailored to self-employed individuals, making compliance simpler.
How often should I meet with my fixed fee accountant?
Meeting frequency depends on your needs, but many accountants offer quarterly or annual reviews as part of their fixed fee package. Some also provide ongoing advice via phone or email. It is advisable to discuss communication expectations upfront to ensure the arrangement suits your business cycle.
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