
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 services do accountants in LU1 typically offer?
Accountants in LU1 commonly provide services including Self Assessment tax returns, Corporation Tax preparation, VAT returns, payroll management, bookkeeping, and year-end accounts. Many also offer business start-up advice, cash flow forecasting, and tax planning for individuals and limited companies. The exact range depends on the firm's specialisms and accreditations.
How do I choose between an ACCA and an ICAEW qualified accountant?
Both ACCA and ICAEW qualifications indicate a high level of professional competence and ethical standards. ACCA is often favoured for its international focus and broader business coverage, whilst ICAEW is traditionally strong in audit and corporate finance. Your choice should depend on your specific needs, such as whether you require audit services or cross-border tax advice.
Do I need an accountant for a small limited company in LU1?
Yes, even small limited companies benefit from professional accountancy support. An accountant can help you meet statutory filing deadlines, prepare accurate Corporation Tax returns, manage VAT if registered, and advise on director's salary versus dividend strategies. This reduces the risk of penalties and ensures you take advantage of available tax reliefs.
What is the difference between a tax return and Self Assessment?
Self Assessment is the system HMRC uses to collect Income Tax from individuals who are not taxed automatically at source, such as sole traders or landlords. A tax return is the specific form you complete each year under Self Assessment. An accountant can prepare and submit this return on your behalf, ensuring accuracy and compliance.
Can an accountant in LU1 help with HMRC investigations?
Yes, an experienced accountant can represent you during an HMRC investigation or compliance check. They will review your records, prepare necessary documentation, and communicate with HMRC on your behalf. This professional support can significantly reduce stress and help resolve enquiries efficiently, particularly if you have complex financial affairs.
How often should I meet with my accountant in LU1?
The frequency depends on your business complexity and personal needs. Many clients meet quarterly to review management accounts and tax planning, whilst others prefer an annual meeting around the tax return deadline. Regular communication helps identify issues early and ensures your accountant can provide timely advice on changes to your financial situation.
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