
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 who does it affect?
Making Tax Digital is an HMRC initiative requiring businesses to maintain digital records and submit quarterly updates for VAT and income tax. It currently applies to VAT-registered businesses above the threshold, with plans to extend to other taxes. A qualified accountant can help you comply.
How do I choose a Making Tax Digital accountant in Waveney?
Look for accountants with ACCA, ICAEW, or AAT accreditation who specialise in MTD compliance. Check their experience with your business type and software they recommend. Reading client reviews and comparing fees on a directory like AccountingFirms can help you find a trusted local professional.
What qualifications should a Making Tax Digital accountant hold?
A reputable accountant should hold a recognised qualification such as ACCA, ICAEW, or AAT. These bodies ensure members adhere to strict ethical and technical standards. Such qualifications guarantee the accountant is up to date with HMRC regulations and capable of handling digital tax submissions accurately.
Can a Making Tax Digital accountant help with VAT and Corporation Tax?
Yes, most MTD-specialist accountants offer comprehensive services including VAT returns, Corporation Tax planning, and Self Assessment. They ensure your digital records meet HMRC requirements for each tax type, helping you avoid penalties and optimise your tax position through legitimate reliefs and allowances.
What software do Making Tax Digital accountants typically use?
Accountants often recommend HMRC-recognised software such as Xero, QuickBooks, Sage, or FreeAgent. These platforms integrate with MTD-compatible systems to submit data directly to HMRC. Your accountant will help you choose the best option based on your business size, turnover, and industry requirements.
How often will I need to submit updates under Making Tax Digital?
For VAT, you must submit quarterly returns digitally. For income tax, the timeline is still evolving, but quarterly updates are expected for sole traders and landlords. Your accountant will set up reminders and manage submissions to ensure you never miss a deadline, keeping you fully compliant with HMRC.
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