
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 defined set of services for a single agreed price, typically covering annual accounts, tax return preparation, and basic bookkeeping. The exact scope depends on the package you select, but it removes the risk of hourly billing surprises. This arrangement is popular among small businesses and sole traders who want predictable costs.
How do I verify an accountant's credentials?
You can check an accountant's qualifications by looking for membership with recognised bodies such as ACCA, ICAEW, or AAT. The directory lists these details for each firm, and you can also verify directly on the professional body's website. Regulated accountants must adhere to strict ethical and technical standards, giving you confidence in their work.
Can a fixed fee accountant help with HMRC enquiries?
Yes, many fixed fee accountants include HMRC correspondence and enquiry support within their packages. They can represent you during tax investigations, respond to information requests, and ensure your compliance with tax laws. It is important to confirm the level of cover when selecting your package, as some firms offer enhanced protection for an additional fee.
What is the difference between a tax return and Self Assessment?
A tax return is the formal document submitted to HMRC, whilst Self Assessment is the system used by individuals to report their income and gains. Most people use the terms interchangeably, but Self Assessment specifically refers to the process of declaring your tax position. A fixed fee accountant can prepare and file your Self Assessment tax return on your behalf.
Are fixed fee accountants suitable for limited companies?
Absolutely. Many fixed fee accountants specialise in services for limited companies, including Corporation Tax returns, annual accounts, and VAT management. The fixed fee model works well for businesses with predictable accounting needs, allowing directors to budget accurately. You should discuss your company's specific requirements to ensure the package covers all necessary compliance work.
How often should I meet with my fixed fee accountant?
The frequency of meetings depends on your business complexity and the package you choose. Most accountants offer quarterly or annual reviews, with ongoing support available via phone or email. Regular contact helps identify tax-saving opportunities and ensures your records remain accurate throughout the year. Your accountant will advise on a suitable schedule based on your needs.
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