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 why does it affect my business in Gravesend Kent?
Making Tax Digital is an HMRC initiative requiring VAT-registered businesses to maintain digital records and submit VAT returns using compatible software. It applies to most businesses with turnover above the VAT threshold. Non-compliance can result in penalties, so engaging a qualified accountant in Gravesend Kent ensures your systems meet HMRC standards.
How do I choose a qualified accountant for Making Tax Digital in Gravesend Kent?
Look for accountants with ACCA, ICAEW, or AAT accreditation, as these bodies require ongoing professional development and adherence to ethical standards. Check their experience with cloud accounting software like Xero or QuickBooks, and read client reviews on AccountingFirms to find a trusted professional in Gravesend Kent.
Can an accountant in Gravesend Kent help me with VAT returns and Self Assessment?
Yes, accountants in Gravesend Kent specialise in both VAT returns and Self Assessment tax returns. They ensure your digital records are accurate for quarterly VAT filings and prepare your annual Self Assessment to minimise tax liability. They also handle HMRC correspondence and deadline reminders.
What software do Making Tax Digital accountants in Gravesend Kent typically use?
Most accountants use HMRC-recognised cloud software such as Xero, QuickBooks, Sage, or FreeAgent. These platforms integrate with bank feeds and automate record-keeping. Your accountant will recommend the best solution for your business size and sector, and provide training on its use.
How much does it cost to hire a Making Tax Digital accountant in Gravesend Kent?
Costs vary based on business complexity and services required. Basic MTD compliance packages for sole traders may start from around £50 per month, whilst limited companies with full VAT, payroll, and Corporation Tax services may cost £150–£300 per month. Many accountants offer fixed-fee arrangements for transparency.
What happens if I miss a Making Tax Digital deadline with my Gravesend Kent accountant?
Your accountant will typically set reminders and submit returns on your behalf, reducing the risk of missed deadlines. If a deadline is missed, HMRC may issue a penalty. A proactive accountant in Gravesend Kent will help you rectify the situation quickly and advise on penalty appeals if needed.
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