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Clear House Accountants
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ION Chartered Accountant
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KAAB
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1ST FORMATIONS LIMITED
1st Formations is a leading online company formation agent in the UK. We offer a comprehensive selection of company registration packages and address ...See More

Naail & Co Chartered Certified Accountants
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Persona Finance
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TIDE PLATFORM LTD
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GOFORMA LIMITED
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THEFORMATIONSCOMPANY.COM LIMITED
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@UKPLC
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Alpha Tax & Accounting
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Frequently asked questions
What is Making Tax Digital and why do I need an accountant for it?
Making Tax Digital is an HMRC initiative that requires businesses to keep digital records and submit VAT returns using compatible software. An accountant ensures you select the right software, meet submission deadlines, and avoid penalties. They also provide ongoing support to keep your digital records accurate and compliant.
How do I choose a qualified accountant in Mayfair for MTD compliance?
Look for accountants with ACCA, ICAEW, or AAT accreditation, as these bodies ensure high professional standards. Check their experience with Making Tax Digital software and HMRC submissions. Reading client reviews and comparing services on a trusted directory can help you find a professional who meets your specific business needs.
What services do Making Tax Digital accountants typically offer?
They offer VAT registration and submissions, Corporation Tax planning, Self Assessment preparation, and software setup. They also assist with data migration, digital record-keeping, and year-end accounts. Their goal is to ensure your business remains fully compliant with HMRC while reducing administrative burdens.
Can a Making Tax Digital accountant help with VAT returns for my small business?
Yes, they specialise in preparing and submitting VAT returns digitally through HMRC-compatible software. They ensure your records are accurate and submitted on time, helping you avoid late filing penalties. They can also advise on VAT schemes that may benefit your small business, such as the Flat Rate Scheme.
How often do I need to submit VAT returns under Making Tax Digital?
Most businesses submit VAT returns quarterly, though some may opt for monthly or annual submissions depending on their turnover and scheme. Your accountant will set up the appropriate schedule and remind you of deadlines. They will also handle the digital submission process on your behalf to ensure compliance.
What happens if I fail to comply with Making Tax Digital requirements?
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 maintained correctly and returns are filed on time. They also provide guidance on record-keeping best practices to keep your business compliant.
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