
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 quarterly updates. An accountant ensures your software is correctly set up, your records are accurate, and your submissions are made on time, helping you avoid penalties and stay compliant.
How do I choose a qualified accountant in Maida Vale London?
Look for accountants with ACCA, ICAEW, or AAT accreditation, as these bodies ensure high professional standards. Check their experience with Making Tax Digital and client reviews. Using a directory like AccountingFirms allows you to compare local firms and their specific services.
Can an accountant help with both VAT and Self Assessment under MTD?
Yes, most accountants specialising in Making Tax Digital handle both VAT returns and Self Assessment tax returns. They ensure your digital records meet HMRC requirements for each tax type and submit the necessary quarterly updates and annual declarations on your behalf.
What software do Making Tax Digital accountants typically use?
Accountants often use HMRC-recognised software such as Xero, QuickBooks, Sage, or FreeAgent. They will help you select the best option for your business, set it up correctly, and integrate it with your daily transactions to ensure seamless digital record-keeping.
Are there penalties for not complying with Making Tax Digital?
Yes, HMRC can issue penalties for late submissions, late payments, or failure to keep digital records. A qualified accountant helps you stay organised and meet all deadlines, reducing the risk of fines and ensuring your business remains compliant with MTD regulations.
How often will I need to submit updates to HMRC with an MTD accountant?
For VAT, you submit quarterly updates, and for Income Tax, you also provide quarterly summaries of your business income and expenses. Your accountant manages these submissions, ensuring they are accurate and filed on time, leaving you to focus on running your business.
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