
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 in the price?
A fixed fee accountant typically agrees a set price for a defined scope of work, such as preparing your annual accounts, completing a Self Assessment tax return, or handling VAT returns. The exact services included are outlined in an engagement letter, so you know precisely what is covered and what may incur an additional charge.
How do I know if a fixed fee accountant is qualified?
Qualified accountants will hold accreditation from a recognised professional body such as ACCA, ICAEW, or AAT. You can verify their credentials by checking their membership number on the relevant institute's register. Firms listed on AccountingFirms are required to be regulated, giving you confidence in their professional standing.
Can a fixed fee accountant help with HMRC enquiries?
Yes, most fixed fee accountants include representation in the event of an HMRC enquiry within their service agreement. This means they will handle all correspondence with HMRC on your behalf, prepare necessary documentation, and advise you throughout the process. It is important to confirm this coverage before signing your engagement letter.
What is the difference between a fixed fee and an hourly rate?
A fixed fee is a pre-agreed price for a specific set of services, providing cost certainty. An hourly rate charges for the actual time spent, which can lead to unpredictable bills. Fixed fee arrangements are popular with small businesses and individuals who want to budget accurately without worrying about escalating costs.
Do I need a fixed fee accountant if I am a sole trader?
Yes, sole traders often benefit from a fixed fee accountant because it simplifies budgeting for essential services like Self Assessment tax returns and bookkeeping. A fixed fee arrangement ensures you receive professional support without unexpected charges, allowing you to focus on running your business whilst staying compliant with HMRC requirements.
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 reviews to discuss tax planning, cash flow, and compliance updates. Annual meetings are standard for preparing year-end accounts. Your engagement letter should specify the number of meetings included in the fixed fee.
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