
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 preparation of annual accounts, tax return filing, and basic bookkeeping. The exact scope depends on your agreement. Always confirm what is included before signing, as additional services like VAT returns or payroll may incur extra charges.
How do I know if an accountant is properly qualified?
Look for accreditations from recognised bodies such as ACCA, ICAEW, or AAT. These qualifications require rigorous training and ongoing professional development. You can verify an accountant’s status by checking the register on the relevant institute’s website.
Can a fixed fee accountant help with HMRC investigations?
Yes, many fixed fee accountants offer support if HMRC opens an enquiry into your tax affairs. Some include this in their standard package, whilst others charge a separate fee. It is important to discuss this upfront to avoid surprises.
What is the difference between Self Assessment and Corporation Tax?
Self Assessment is the system used by individuals, sole traders, and partnerships to report income to HMRC. Corporation Tax is paid by limited companies on their profits. Both require accurate filing and payment by specific deadlines to avoid penalties.
How often should I meet with my accountant?
Most accountants recommend quarterly meetings to review financial performance and plan for tax obligations. However, the frequency depends on your business complexity. A fixed fee arrangement often includes a set number of consultations per year.
Is VAT registration compulsory for all businesses?
No, VAT registration is only mandatory if your taxable turnover exceeds the current threshold, which is £90,000. Even if below this limit, you may choose to register voluntarily. An accountant can advise on whether voluntary registration benefits your business.
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