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 matter for my business?
Making Tax Digital (MTD) is an HMRC initiative requiring businesses to maintain digital records and submit quarterly VAT updates. It aims to reduce errors and improve tax transparency. Non-compliance can result in penalties, so engaging an accountant familiar with MTD ensures your business meets these legal obligations efficiently.
How do I verify that an accountant is properly qualified?
You can check an accountant’s credentials by looking for membership with recognised bodies such as ACCA, ICAEW, or AAT. These organisations maintain registers of qualified professionals. AccountingFirms.co.uk displays these credentials clearly on each firm’s profile, allowing you to confirm their regulatory status before engaging their services.
What services do Making Tax Digital accountants typically offer?
These accountants provide digital record-keeping setup, quarterly VAT return submissions, payroll management, and Corporation Tax planning. They also assist with Self Assessment tax returns and ensure your accounting software integrates seamlessly with HMRC systems. Their goal is to simplify compliance and minimise your administrative burden.
Can a local accountant in Leicestershire handle my tax affairs remotely?
Yes, many accountants in Leicestershire offer remote services using secure cloud-based platforms. They can manage your digital records, submit returns to HMRC, and provide virtual consultations. This flexibility allows you to benefit from local expertise without needing to visit an office in person.
How often will I need to submit updates under Making Tax Digital?
Under MTD for VAT, businesses must submit quarterly digital updates to HMRC, followed by a final annual declaration. The frequency may increase as MTD expands to other taxes. Your accountant will set up automated reminders and handle submissions on your behalf to ensure deadlines are never missed.
What should I look for when choosing an accountant for MTD compliance?
Prioritise accountants with recognised qualifications (ACCA, ICAEW, AAT) and specific experience in MTD. Check their familiarity with popular accounting software like Xero or QuickBooks. Reading client reviews and verifying their HMRC agent status will help you select a reliable professional who understands digital tax requirements.
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