
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 Shopify accountants typically offer?
Shopify accountants provide services including bookkeeping, VAT registration and returns, Corporation Tax preparation, Self Assessment tax returns, and management accounts. They also offer advice on inventory valuation, payment gateway reconciliation, and international tax issues for e-commerce businesses.
How do I know if an accountant is qualified and regulated?
Look for accreditations from recognised bodies such as ACCA, ICAEW, or AAT. These qualifications ensure the accountant has passed rigorous exams and follows strict professional standards. You can verify their status on the respective institute's register.
Why is VAT important for my Shopify store?
VAT affects pricing, margins, and compliance. If your turnover exceeds the VAT threshold, you must register with HMRC and charge VAT on sales. A Shopify accountant can help you manage VAT returns, claim input tax, and handle cross-border VAT obligations to avoid penalties.
Can a Shopify accountant help with HMRC investigations?
Yes, a qualified accountant can represent you during HMRC enquiries or investigations. They will review your records, prepare necessary documentation, and liaise with HMRC on your behalf, reducing stress and ensuring a professional response to any queries.
What is the difference between a tax return and Self Assessment?
A tax return is the document submitted to HMRC detailing your income and expenses. Self Assessment is the system used by individuals and sole traders to report their tax liabilities. Your accountant will prepare and file your Self Assessment tax return annually.
How often should I meet with my Shopify accountant?
It is advisable to meet quarterly to review financial performance, plan for tax payments, and discuss business changes. Regular contact ensures your accounts are up to date and you receive timely advice on cash flow, VAT, and growth strategies.
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