
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 needs to comply?
Making Tax Digital is an HMRC initiative requiring businesses to maintain digital records and submit quarterly updates for VAT and income tax. Most VAT-registered businesses must comply, with further mandates for income tax expected soon. It applies to sole traders, landlords, and limited companies above certain thresholds.
How can an ACCA or ICAEW accountant help with MTD?
ACCA and ICAEW accountants are trained to implement digital accounting systems, ensuring your software meets HMRC’s standards. They handle quarterly submissions, reconcile records, and advise on tax planning. Their regulated status guarantees professional oversight and adherence to ethical guidelines, reducing the risk of errors or penalties.
What services do local accountants in Kilkeel offer for small businesses?
Local accountants in Kilkeel provide VAT registration and returns, Corporation Tax filing, Self Assessment preparation, and payroll management. They also assist with MTD software setup, bookkeeping, and cash flow forecasting. Many offer tailored advice for small businesses to optimise tax efficiency and maintain HMRC compliance.
How do I choose the right accountant for Making Tax Digital?
Look for accountants with recognised accreditations such as ACCA, ICAEW, or AAT, and specific experience with MTD software. Check their familiarity with your business type and industry. The directory allows you to compare qualifications, services, and client feedback to find a professional who meets your needs.
Can a qualified accountant help with VAT returns under MTD?
Yes, a qualified accountant can manage your VAT returns digitally, ensuring they are submitted correctly and on time to HMRC. They will set up compatible software, review your transactions, and reconcile accounts. This reduces administrative burden and helps you avoid late filing penalties or compliance issues.
What are the penalties for not complying with Making Tax Digital?
HMRC applies penalties for late submission of MTD returns, with charges escalating for repeated non-compliance. Businesses may also face fines for failing to keep digital records or using non-compliant software. Engaging a professional accountant helps you meet deadlines and maintain accurate records, minimising penalty risks.
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