
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 who does it affect?
Making Tax Digital (MTD) is an HMRC initiative requiring businesses to keep digital records and submit tax updates quarterly. It currently applies to most VAT-registered businesses, with expansion to income tax Self Assessment for sole traders and landlords from April 2026. MTD aims to reduce errors and improve tax compliance.
How can an accountant help me comply with MTD?
An accountant can assess your current record-keeping, recommend MTD-compatible software, and set up digital links between your systems. They will submit your quarterly VAT or income tax updates to HMRC on your behalf, ensure deadlines are met, and advise on any adjustments needed to avoid penalties.
What qualifications should I look for in an accountant?
Look for accountants who are members of recognised professional bodies such as ACCA, ICAEW, or AAT. These qualifications indicate that the accountant has passed rigorous exams, follows a strict code of ethics, and undertakes continuing professional development to stay current with tax laws and regulations.
Can I switch accountants if I am already registered for MTD?
Yes, you can switch accountants at any time. Your new accountant will need to be authorised by HMRC to act on your behalf. They can take over your MTD submissions, update your software access, and ensure a smooth transition. It is advisable to inform your previous accountant in writing.
What is the difference between a tax return and an MTD submission?
A tax return is an annual summary of your income and expenses submitted to HMRC, such as a Self Assessment or Corporation Tax return. An MTD submission is a quarterly update of your digital records, which HMRC uses to monitor your tax position throughout the year. Both are required for compliant businesses.
Do I need special software for Making Tax Digital?
Yes, MTD requires you to use HMRC-recognised software that can keep digital records and submit updates directly to HMRC. Many accounting packages offer MTD-compatible versions. Your accountant can help you choose the right software for your business size and sector, and set up the necessary digital links.
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