
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 is it important?
Making Tax Digital is an HMRC initiative requiring businesses to keep digital records and submit quarterly updates. It aims to make tax administration more efficient and reduce errors. Compliance is mandatory for most VAT-registered businesses, and using a qualified accountant ensures you meet deadlines and avoid penalties.
How do I find a qualified Making Tax Digital accountant in Surrey.?
You can use AccountingFirms.co.uk to browse and compare verified accountants in Surrey. who specialise in MTD. Look for professionals with ACCA, ICAEW, or AAT accreditation to ensure they have the necessary expertise. The directory allows you to review profiles and select the right fit for your business.
What qualifications should a Making Tax Digital accountant hold?
A reliable MTD accountant should hold recognised qualifications such as ACCA, ICAEW, or AAT. These accreditations demonstrate a high level of training and adherence to professional standards. Such accountants are well-versed in HMRC requirements and can provide expert guidance on digital tax compliance.
Can a Making Tax Digital accountant help with VAT and Corporation Tax?
Yes, a qualified MTD accountant can assist with VAT returns, Corporation Tax, and Self Assessment. They ensure your digital records are accurate and submissions are made on time. Their expertise helps you manage all tax obligations efficiently whilst staying compliant with HMRC regulations.
How often do I need to submit updates under Making Tax Digital?
Under MTD, most businesses must submit quarterly updates to HMRC via compatible software. These updates cover income and expenses. A final annual declaration is also required. An accountant can help you set up the process and ensure each submission is correct and timely.
What happens if I do not comply with Making Tax Digital rules?
Non-compliance with MTD can result in penalties from HMRC for late or incorrect submissions. It may also lead to additional scrutiny of your tax affairs. Engaging a qualified accountant helps you avoid these issues by ensuring your digital records and submissions meet all requirements.
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