ACCOTAX - Accountants & Tax Consultants
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FLEXIE ACCOUNTANTS LTD
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Frequently asked questions
What is Making Tax Digital and why does it affect my business in Preston?
Making Tax Digital is an HMRC initiative requiring businesses to keep digital records and submit quarterly updates. It applies to VAT-registered businesses and will expand to other taxes. For businesses in Preston, compliance is mandatory, and working with a qualified accountant ensures you meet deadlines and avoid penalties.
How do I find a qualified Making Tax Digital accountant in Preston?
You can use AccountingFirms to browse local accountants in Preston who specialise in Making Tax Digital. The directory lists professionals with ACCA, ICAEW, or AAT accreditation, allowing you to compare services and choose an expert who understands your business needs.
What qualifications should I look for in an accountant for Making Tax Digital?
Look for accountants with ACCA, ICAEW, or AAT certification, as these bodies ensure high professional standards. Such accountants are trained in digital tax compliance and can help with HMRC submissions, VAT returns, and software setup, giving you reliable support for Making Tax Digital.
Can a Making Tax Digital accountant help with my Self Assessment tax return?
Yes, many accountants in Preston who specialise in Making Tax Digital also handle Self Assessment tax returns. They can integrate your personal tax obligations with digital record-keeping, ensuring all submissions to HMRC are accurate and timely, reducing the risk of errors.
What software do Making Tax Digital accountants in Preston typically use?
Most accountants use HMRC-recognised software such as Xero, QuickBooks, or Sage for digital record-keeping. They can advise on the best option for your business and help set up the system to ensure compliance with Making Tax Digital requirements.
How often will my accountant need to submit updates under Making Tax Digital?
Under Making Tax Digital for VAT, you must submit quarterly updates to HMRC. Your accountant in Preston will manage these submissions on your behalf, using digital software to ensure accuracy and timeliness, so you can focus on running your business.
About Accounting Firms
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