
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 is Making Tax Digital and how does it affect my business?
Making Tax Digital is an HMRC initiative that requires businesses to maintain digital records and submit quarterly updates for VAT and other taxes. It aims to make tax administration more efficient and reduce errors. Businesses above the VAT threshold must comply, and using a qualified accountant ensures you meet these requirements without disruption.
Why should I choose an ACCA or ICAEW qualified accountant in East Yorkshire?
ACCA and ICAEW qualified accountants undergo rigorous training and adhere to strict ethical standards. They possess deep knowledge of tax legislation, including Making Tax Digital, and can provide tailored advice for your business. Choosing a local professional in East Yorkshire also offers the benefit of face-to-face support and familiarity with regional economic factors.
How can an accountant help me with my Self Assessment tax return?
An accountant can prepare and submit your Self Assessment tax return accurately and on time, ensuring you claim all allowable expenses and reliefs. They can also advise on tax planning, help you organise your records digitally, and represent you if HMRC queries your return. This reduces stress and helps you avoid penalties.
What should I look for when selecting a Making Tax Digital accountant?
Look for an accountant with recognised qualifications such as ACCA, ICAEW, or AAT, and specific experience with Making Tax Digital. Check that they offer digital software support and have a good track record with HMRC compliance. Reading reviews and comparing services on a directory can help you find a reliable professional.
Can a Making Tax Digital accountant help with Corporation Tax?
Yes, a Making Tax Digital accountant can assist with Corporation Tax compliance, including digital record-keeping and filing. They ensure your company accounts are prepared correctly, advise on tax-efficient strategies, and help you meet HMRC deadlines. Their expertise is invaluable for managing both quarterly updates and annual returns.
How do I know if my business needs to comply with Making Tax Digital?
Most VAT-registered businesses with a taxable turnover above the VAT threshold must comply with Making Tax Digital for VAT. HMRC is gradually extending the mandate to other taxes. An accountant can review your business status and advise on your obligations, helping you implement the necessary digital systems to stay compliant.
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