
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 package of services for a predetermined price, typically covering tax returns, bookkeeping, and year-end accounts. This arrangement ensures no surprise bills and allows you to budget accurately. The specific inclusions depend on the agreement, but most firms clearly outline what is included in the fixed fee.
How do I know if an accountant is properly qualified?
Look for accountants who are members of recognised professional bodies such as ACCA, ICAEW, or AAT. These qualifications indicate that the accountant has undergone rigorous training and adheres to strict ethical and professional standards. You can verify their status directly through the relevant institute's online register.
Can a fixed fee accountant help with HMRC enquiries?
Yes, many fixed fee accountants include support for HMRC enquiries as part of their service. If you are selected for a compliance check or investigation, your accountant can represent you and handle correspondence with HMRC. It is important to confirm this coverage in your service agreement before engaging a firm.
What is the difference between Self Assessment and Corporation Tax?
Self Assessment is the system used by HMRC for individuals to report their income and pay tax, typically for sole traders or those with additional income. Corporation Tax is a tax on the profits of limited companies. Both require accurate filing, and an accountant can ensure you meet the relevant deadlines and obligations.
How often should I meet with my fixed fee accountant?
The frequency of meetings depends on your business needs and the scope of the fixed fee agreement. Many accountants offer quarterly or monthly check-ins to review financial performance and plan for tax payments. Annual meetings are common for basic tax return services, whilst more active businesses may benefit from regular contact.
Is VAT registration included in a fixed fee package?
Some fixed fee packages include VAT registration and ongoing VAT return preparation, whilst others charge this as an additional service. It is essential to clarify what is covered before signing an agreement. Many accountants in Newtownabbey offer tailored packages that can include VAT compliance depending on your turnover and requirements.
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