
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 maintain digital records and submit VAT returns using compatible software. An accountant ensures your systems meet these requirements, helps with quarterly submissions, and advises on future MTD for Income Tax, reducing the risk of penalties and saving you time.
How do I choose a qualified accountant in Letchworth Garden City?
Look for accountants with recognised accreditations such as ACCA, ICAEW, or AAT. Check their experience with Making Tax Digital, VAT compliance, and your specific industry. Reading client reviews and comparing services through a directory like AccountingFirms helps you find a regulated professional who meets your needs.
Can a Making Tax Digital accountant help with Corporation Tax and Self Assessment?
Yes, most accountants who specialise in MTD also handle Corporation Tax returns and Self Assessment filings. They ensure your digital records support accurate tax calculations and timely submissions to HMRC, helping you comply with all tax obligations whilst optimising reliefs and allowances.
What software do Making Tax Digital accountants typically recommend?
Accountants often recommend HMRC-recognised software such as Xero, QuickBooks, Sage, or FreeAgent. These platforms integrate with MTD requirements, allowing automatic VAT submissions and real-time financial tracking. Your accountant will help you choose and set up the best option for your business size and sector.
Are there penalties for not complying with Making Tax Digital?
Yes, HMRC can issue penalties for late VAT submissions, incorrect returns, or failure to keep digital records. A qualified accountant ensures you meet all deadlines and maintain compliant records, helping you avoid fines and interest charges whilst staying on top of your tax obligations.
How often do I need to submit VAT returns under Making Tax Digital?
Under MTD, most businesses submit VAT returns quarterly using compatible software. Your accountant can manage these submissions on your behalf, ensuring accuracy and timeliness. They also help with annual updates and any adjustments required by HMRC, keeping your VAT affairs in order.
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