
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 startup accountants typically offer?
Startup accountants provide company formation advice, tax planning, VAT registration, bookkeeping, payroll management, and preparation of annual accounts. They also assist with HMRC filings, cash flow forecasting, and securing start-up loans or grants. Their goal is to establish compliant financial processes from the beginning.
How do I choose between an ACCA and an ICAEW accountant?
Both ACCA and ICAEW accountants are highly qualified and regulated. ACCA professionals often have a broader international focus, whilst ICAEW members are recognised for strong UK corporate expertise. Your choice should depend on your business's specific needs, such as international trade or complex tax structures. Review their experience with startups.
When should I hire an accountant for my startup?
It is advisable to hire an accountant before you start trading or immediately after registering your business. Early engagement ensures correct tax registrations, optimal business structure, and proper financial setup. Delaying can lead to missed deadlines, penalties, or inefficient tax planning that costs more later.
What is the VAT threshold and how does it affect my startup?
The VAT threshold is currently £90,000 in taxable turnover. If your startup's turnover exceeds this, you must register for VAT with HMRC. An accountant can help you monitor turnover, decide on voluntary registration if beneficial, and manage VAT returns to ensure compliance and correct input tax recovery.
Can a startup accountant help with Self Assessment tax returns?
Yes, startup accountants regularly prepare and file Self Assessment tax returns for sole traders and company directors. They ensure all income and allowable expenses are correctly reported, minimising tax liability while remaining compliant with HMRC rules. This service is particularly valuable for those with multiple income streams.
How does Making Tax Digital affect my new business?
Making Tax Digital requires VAT-registered businesses to keep digital records and submit returns using compatible software. From 2026, it will extend to income tax for sole traders and landlords. An accountant can help you select compliant software, set up digital record-keeping, and meet quarterly reporting obligations without disruption.
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