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 Russian-speaking accountants typically offer?
Russian-speaking accountants typically offer a comprehensive range of services including preparation of Self Assessment tax returns, Corporation Tax computations, VAT returns, payroll management, and bookkeeping. They also provide strategic tax planning and can assist with HMRC correspondence, ensuring that all financial matters are handled accurately and in your preferred language.
How can an ACCA or ICAEW qualified accountant help with HMRC enquiries?
An ACCA or ICAEW qualified accountant has extensive knowledge of tax law and HMRC procedures. In the event of an enquiry, they can act as your authorised agent, handling all communication, preparing necessary documentation, and providing expert representation. Their professional standing ensures that your case is managed competently, reducing stress and achieving the best possible outcome.
Why is it beneficial to hire an accountant who speaks Russian?
Hiring an accountant who speaks Russian eliminates language barriers, allowing you to discuss complex financial matters clearly and confidently. This ensures that you fully understand your tax obligations, deadlines, and the implications of financial decisions. It also facilitates smoother communication regarding sensitive issues, reducing the risk of errors or misunderstandings that could lead to penalties.
What is the difference between a tax return and a Corporation Tax return?
A tax return, specifically a Self Assessment tax return, is filed by individuals to report their income and capital gains to HMRC. A Corporation Tax return is filed by limited companies to report their profits and calculate the tax due. Both are separate obligations with different deadlines and requirements. An accountant can ensure both are prepared correctly and submitted on time.
How do I know if I need to register for VAT?
You must register for VAT if your taxable turnover exceeds the current threshold, which is £90,000. You can also voluntarily register if your turnover is below this amount, which may be beneficial if you wish to reclaim VAT on business purchases. An accountant can assess your specific circumstances and advise on the most appropriate course of action.
Can an accountant help me with my personal tax return if I am self-employed?
Yes, an accountant can assist self-employed individuals with their personal tax return, ensuring that all allowable expenses are claimed and that the return is filed accurately. They will also advise on Class 2 and Class 4 National Insurance contributions, and help you set aside the correct amount for your tax bill, avoiding any surprises at the end of the tax year.
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