
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 specialist accountants rather than a general practitioner?
Restaurants face unique issues such as VAT on food versus drink, tronc systems for tips, and high staff turnover. A specialist accountant understands these nuances, ensures correct HMRC treatment, and identifies allowable expenses specific to hospitality. General practitioners may overlook reliefs like capital allowances on kitchen equipment or the flat rate VAT scheme benefits for restaurants.
What qualifications should I look for in a restaurant accountant?
Look for members of ACCA, ICAEW or AAT. ACCA and ICAEW accountants can prepare statutory accounts and advise on Corporation Tax, whilst AAT-qualified professionals often handle bookkeeping and VAT returns. Membership confirms they adhere to ethical standards and keep up to date with HMRC rules, giving you confidence in their expertise.
How can an accountant help with HMRC investigations or queries?
A qualified accountant can act as your agent, dealing directly with HMRC on your behalf. They will prepare responses, gather necessary records, and negotiate any penalties. This reduces stress and ensures that communication is professional and timely. Having an accountant also demonstrates to HMRC that your affairs are managed responsibly, which can help resolve queries faster.
Do I need to use Making Tax Digital for VAT in my restaurant?
Yes, if your restaurant is VAT-registered, you must follow Making Tax Digital rules. This means keeping digital records and filing VAT returns using compatible software. An accountant can recommend suitable software, set up your digital records, and ensure submissions are accurate. They can also train your staff on daily digital record-keeping to avoid last-minute panic.
What tax reliefs are available for restaurant owners?
Restaurant owners may claim capital allowances on equipment such as ovens, fridges and seating. You can also deduct allowable expenses like uniforms, training, and business insurance. Research and development relief is rarely applicable, but the structure of your business, whether limited company or sole trader, affects National Insurance and Corporation Tax. An accountant can identify all relevant reliefs.
How does AccountingFirms help me choose the right accountant?
AccountingFirms is a directory that lists verified, regulated accountants. You can browse local firms, compare their credentials and specialisms, and request quotes. Established in 2019 and built by ICAEW and ACCA accountants, the platform helps you find professionals who understand restaurant accounting. You can then make an informed choice based on experience and fees.
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