
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 usually provide company formation advice, bookkeeping, VAT registration, Corporation Tax preparation, and Self Assessment tax return filing. They also assist with cash flow forecasting, payroll setup, and HMRC compliance. Their goal is to help new businesses establish sound financial practices from the beginning.
How do I choose the right accountant for my new business?
Look for an accountant with recognised qualifications such as ACCA, ICAEW, or AAT. Consider their experience with startups in your industry and check client reviews. It is also important to discuss fees, communication methods, and the range of services they provide to ensure they meet your specific needs.
Why is it important to hire an ACCA or ICAEW qualified accountant?
ACCA and ICAEW qualified accountants have undergone rigorous training and adhere to strict ethical standards. They are regulated by professional bodies, ensuring they provide competent and reliable advice. Their expertise in tax law and financial reporting helps protect your business from compliance issues and penalties.
When should a startup register for VAT with HMRC?
A startup must register for VAT with HMRC if its taxable turnover exceeds the current threshold of £90,000 in a rolling 12-month period. Voluntary registration may be beneficial if you make mainly taxable supplies and wish to reclaim input VAT. An accountant can advise on the best timing for your business.
What records must a startup keep for HMRC?
Startups must keep accurate records of all income and expenses, including invoices, receipts, bank statements, and payroll records. These must be retained for at least five years after the relevant tax year. Proper record keeping ensures correct tax returns and simplifies HMRC inspections.
Can a startup accountant help with Self Assessment tax returns?
Yes, most startup accountants prepare and file Self Assessment tax returns for sole traders, partners, and company directors. They ensure all income is declared correctly and that allowable expenses are claimed. This reduces the risk of errors and helps you meet HMRC deadlines without stress.
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