
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 returns using compatible software. An accountant ensures your systems meet these requirements, files returns accurately, and helps you avoid penalties. They also advise on software choices and digital record-keeping best practises.
How do ACCA or ICAEW qualifications benefit my tax compliance?
ACCA and ICAEW accountants undergo rigorous training and adhere to strict ethical standards. Their expertise ensures your VAT, Corporation Tax, and Self Assessment returns are prepared correctly. They stay current with HMRC regulations, reducing the risk of errors and audits. Engaging such a professional provides assurance of high-quality, compliant service.
Can a Making Tax Digital accountant help with VAT returns for my small business?
Yes, these accountants specialise in MTD-compliant VAT submissions for businesses of all sizes. They set up digital records, integrate accounting software, and file quarterly returns to HMRC. Their support ensures you meet deadlines and maintain accurate records, which is particularly valuable for small businesses with limited in-house resources.
What should I look for when choosing an accountant for Making Tax Digital?
Look for an accountant with recognised qualifications such as ACCA, ICAEW, or AAT and specific experience in MTD compliance. Check that they use HMRC-approved software and offer services tailored to your business type. Reading client reviews and comparing providers on a directory like AccountingFirms can help you make an informed choice.
Do I need an accountant if I already use accounting software for MTD?
While software can handle digital records, an accountant provides essential oversight for complex tax issues like Corporation Tax, Self Assessment, and VAT adjustments. They ensure your filings are accurate, advise on tax-saving opportunities, and represent you if HMRC queries your returns. Their expertise complements your software use.
How often do I need to submit VAT returns under Making Tax Digital?
Most VAT-registered businesses submit returns quarterly, though some may qualify for annual or monthly schemes. Your accountant will help you determine the correct filing frequency and ensure each return is submitted digitally via MTD-compatible software. They also manage any adjustments or corrections needed between quarters.
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