
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 defines a micro entity for accounting purposes?
A micro entity is a small company that meets at least two of the following criteria: turnover of no more than £632,000, a balance sheet total of no more than £316,000, and an average of no more than 10 employees. Such companies can prepare simplified accounts and file reduced information with Companies House.
Do micro entity accountants in Orkney handle VAT returns?
Yes, micro entity accountants in Orkney are fully equipped to prepare and submit VAT returns for VAT-registered businesses. They ensure compliance with HMRC deadlines and help you claim input tax correctly, while also advising on whether voluntary VAT registration would benefit your micro entity.
How can I verify the credentials of an accountant listed on AccountingFirms?
Each firm featured on AccountingFirms displays its professional qualifications and regulatory body, such as ACCA, ICAEW, or AAT. You can review their profile, check client ratings, and contact them directly to confirm their registration status before engaging their services.
What is the difference between a micro entity and a small company for tax purposes?
For Companies Act purposes, a micro entity has lower turnover and balance sheet thresholds than a small company. However, for tax purposes, both may file the same Corporation Tax return. Micro entity accountants help you apply the correct filing regime and ensure you take advantage of any simplified reporting options available.
Can a micro entity accountant help with Self-assessment tax returns for directors?
Absolutely. Micro entity accountants routinely prepare Self-assessment tax returns for company directors, ensuring all income, dividends, and expenses are correctly reported to HMRC. They also advise on tax-efficient salary and dividend strategies to minimise your personal tax liability while staying compliant.
How do I choose the right micro entity accountant in Orkney?
Start by browsing the profiles of local firms on AccountingFirms, comparing their qualifications, services, and client feedback. Look for accountants who specifically mention micro entity experience and hold ACCA, ICAEW, or AAT accreditation. Arrange an initial consultation to discuss your business needs and ensure they are a good fit.
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