
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 do I need an accountant for it?
Making Tax Digital is an HMRC initiative requiring businesses to keep digital records and submit quarterly updates. An accountant ensures you use compliant software, meet deadlines, and avoid penalties, whilst also advising on tax planning and record-keeping best practices.
How do I choose a qualified accountant in Leadenhall Street?
Look for accreditations such as ACCA, ICAEW, or AAT, which indicate high professional standards. Check their experience with Making Tax Digital, VAT, and Corporation Tax. Reading client reviews and comparing services on a trusted directory can help you make an informed choice.
What services do Making Tax Digital accountants typically offer?
They provide digital record setup, quarterly VAT submissions, Self Assessment filing, Corporation Tax returns, and year-end accounts. They also advise on software selection, cash flow management, and tax-efficient strategies to help your business comply with HMRC requirements.
Can an accountant help with both VAT and Corporation Tax under Making Tax Digital?
Yes, many accountants specialise in both VAT and Corporation Tax compliance under Making Tax Digital. They ensure your digital records meet HMRC standards for each tax type, submit returns on time, and identify opportunities to reduce your overall tax liability.
How often do I need to submit updates under Making Tax Digital?
For VAT, you must submit quarterly updates to HMRC using compatible software. For income tax, quarterly updates are also required for business and property income. An accountant can manage these submissions on your behalf and help you stay organised throughout the year.
What happens if I do not comply with Making Tax Digital rules?
Non-compliance can result in penalties from HMRC, including fines for late submissions or incorrect records. An accountant helps you avoid these issues by ensuring your digital records are accurate, your software is up to date, and all deadlines are met consistently.
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