
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 issues such as tronc systems, tips allocation, mixed VAT rates on food and drink, and high staff turnover. A specialist accountant understands these complexities and can ensure compliance whilst identifying allowable expenses that a general practitioner might overlook. This often results in lower tax bills and fewer HMRC queries.
What qualifications should I look for in an accountant for my restaurant?
Look for professionals regulated by ACCA, ICAEW or AAT. These bodies ensure members meet strict ethical and technical standards. Membership indicates ongoing training in tax, audit and financial reporting, giving you confidence that your Corporation Tax, VAT and Self Assessment affairs are handled correctly and on time.
How can an accountant help with HMRC investigations or enquiries?
A qualified accountant can act as your agent, corresponding directly with HMRC on your behalf. They will prepare the necessary documentation, explain your position and negotiate any settlements. This reduces stress and ensures that your restaurant's tax affairs are presented accurately, minimising the risk of penalties or further action.
Do I need to be VAT-registered as a restaurant owner?
You must register for VAT if your taxable turnover exceeds the HMRC threshold. Many restaurants exceed this quickly due to high sales volumes. A qualified accountant can advise on registration, choose the best VAT scheme for your business and ensure returns are filed accurately, avoiding penalties and cash flow surprises.
What ongoing support can an accountant provide beyond annual accounts?
Beyond year-end accounts and Corporation Tax returns, accountants offer bookkeeping, payroll, VAT returns, management accounts and tax planning. They can help with budgeting, cash flow forecasts and advice on expanding or restructuring. Regular meetings ensure your restaurant remains financially healthy and compliant throughout the year.
How does AccountingFirms.co.uk help me find the right accountant in Lancs?
AccountingFirms.co.uk lists verified, regulated accountants across Lancs. You can browse by specialism, compare profiles and read client reviews. The directory was built by ICAEW and ACCA accountants, so every firm featured meets professional standards. You can then contact providers directly to discuss your restaurant's needs.
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