
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
Why do restaurants need a specialist accountant rather than a general practitioner?
Restaurants face unique rules on VAT for mixed supplies, tips and service charges, plus stock and wastage accounting. A specialist understands these areas and can identify allowable expenses that a general practitioner might overlook. This often leads to lower tax bills, fewer HMRC queries and more accurate management accounts for pricing and staffing decisions.
What qualifications should I look for in a restaurant accountant?
Look for ACCA, ICAEW or AAT membership, as these bodies require continuing professional development and ethical standards. A regulated accountant can file tax returns, advise on Corporation Tax and represent you in HMRC discussions. Membership also means you have recourse to a professional body if service falls below expected standards.
Can an accountant help with VAT on restaurant food and drink?
Yes. VAT treatment varies between eat-in, takeaway, cold food and catering, and errors can be costly. A qualified accountant will review your menu and sales processes, confirm the correct rates and ensure VAT returns are accurate. They can also advise on the flat rate scheme and Making Tax Digital compatible record keeping.
How does Self Assessment apply to restaurant owners and partners?
Sole traders and partners must report their share of profits through Self Assessment, regardless of whether the restaurant trades as a limited company. An accountant prepares the tax return, calculates income tax and National Insurance, and submits it to HMRC by the deadline. This avoids penalties and ensures all allowable expenses are claimed correctly.
What records should a restaurant keep for tax purposes?
Keep daily sales records, till rolls, supplier invoices, payroll details, bank statements and receipts for all expenses. HMRC expects records to be accurate and retained for at least six years. A regulated accountant can set up a simple bookkeeping system, often cloud-based, so records are complete and ready for VAT returns and year-end accounts.
How can AccountingFirms.co.uk help me compare accountants in Herefordshire?
The directory lists firms with their qualifications and specialisms, allowing you to compare providers side by side. You can filter for hospitality experience, VAT expertise or payroll support, then request an introduction. Established in 2019 and built by ICAEW and ACCA accountants, the platform helps you find regulated professionals without cold calling or guesswork.
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