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 VAT-registered businesses to keep digital records and submit quarterly returns using compatible software. An accountant ensures you comply with these rules, helps you choose the right software, and submits accurate returns on time, reducing the risk of penalties.
How do I find a qualified Making Tax Digital accountant in Oxon?
You can use AccountingFirms.co.uk to browse local accountants who are ACCA, ICAEW, or AAT accredited. The directory allows you to compare services, read profiles, and connect with professionals who specialise in digital tax compliance for businesses in Oxon.
What qualifications should I look for in a Making Tax Digital accountant?
Look for accountants with ACCA, ICAEW, or AAT accreditation, as these bodies ensure high professional standards. Such qualifications demonstrate expertise in tax law, digital reporting, and HMRC regulations, which are essential for managing Making Tax Digital obligations effectively.
Can a Making Tax Digital accountant help with VAT and Corporation Tax?
Yes, a qualified accountant can assist with VAT returns under Making Tax Digital, as well as Corporation Tax and Self Assessment filings. They provide comprehensive tax planning, ensure accurate submissions, and advise on how to optimise your tax position whilst staying compliant with HMRC.
How often will I need to submit returns under Making Tax Digital?
Under Making Tax Digital, VAT-registered businesses must submit quarterly returns to HMRC using compatible software. An accountant can manage these submissions on your behalf, ensuring deadlines are met and that your digital records are maintained correctly throughout the year.
What are the penalties for non-compliance with Making Tax Digital?
HMRC imposes penalties for late submission of digital returns and for failing to keep adequate digital records. A qualified accountant helps you avoid these penalties by ensuring timely submissions, accurate data, and full compliance with Making Tax Digital requirements for your business.
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