
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 exactly does a fixed fee accountant cover?
A fixed fee accountant typically covers a defined scope of services for a set monthly or annual price. This commonly includes preparation of annual accounts, tax return filing, bookkeeping, and VAT returns. Always confirm the exact services included in your agreement to avoid any surprises.
How do I know if an accountant is properly qualified?
Look for accreditations from recognised professional bodies such as ACCA, ICAEW, or AAT. These qualifications ensure 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, most fixed fee accountants include support for HMRC enquiries within their service package. They can handle correspondence, prepare necessary documentation, and represent you during discussions with HMRC. It is advisable to check whether this is included in your fixed fee arrangement.
What is the difference between a fixed fee and an hourly rate?
A fixed fee provides a predictable, agreed price for a set range of services, regardless of the time taken. An hourly rate charges for every hour worked, which can lead to variable costs. Fixed fees offer budget certainty, whilst hourly rates may be more suitable for one-off or unpredictable work.
Do I need an accountant if I am a sole trader?
Even as a sole trader, an accountant can save you time and money by ensuring your Self Assessment tax return is accurate and submitted on time. They can also help you identify allowable expenses and plan for your tax liabilities, reducing the risk of penalties from HMRC.
How often should I meet with my fixed fee accountant?
The frequency of meetings depends on your business needs and the terms of your agreement. Many fixed fee arrangements include quarterly or bi-annual reviews to discuss financial performance, tax planning, and any changes in legislation. Regular contact helps ensure you remain compliant and informed.
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