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 does it matter for my business?
Making Tax Digital is an HMRC initiative requiring businesses to maintain digital records and submit quarterly updates for VAT and eventually Income Tax. It aims to reduce errors and improve tax compliance. Non-compliance can result in penalties, so working with a qualified accountant ensures your software and processes meet HMRC standards.
How do I choose a Making Tax Digital accountant in Wiltshire?
Look for accountants with recognised accreditations such as ACCA, ICAEW, or AAT, and specific experience with MTD-compatible software like Xero or QuickBooks. Check their client reviews and whether they offer VAT, Corporation Tax, and Self Assessment services. AccountingFirms allows you to compare local providers based on these criteria.
Do I need to use specific accounting software for Making Tax Digital?
Yes, HMRC requires you to use MTD-compatible software to keep digital records and submit returns. Popular options include Xero, QuickBooks, and Sage. A qualified accountant can help you select and set up the right software for your business and ensure your data is correctly formatted for HMRC submissions.
Can an accountant help me with VAT returns under Making Tax Digital?
Absolutely. Most VAT-registered businesses must file returns digitally under MTD. An accountant will ensure your sales and purchase records are accurate, calculate the correct VAT amount, and submit the return to HMRC on time. They can also advise on partial exemption or flat-rate schemes if applicable.
What qualifications should I look for in a tax accountant?
Look for ACCA, ICAEW, or AAT qualifications, which indicate rigorous training and adherence to professional standards. Many accountants also hold a licence to practise from their governing body. These credentials ensure they are up to date with tax law changes and can provide reliable advice for your business.
How often will I need to submit updates under Making Tax Digital?
For VAT, you submit quarterly returns as usual. For Income Tax, from April 2026, sole traders and landlords will need to provide quarterly updates and an end-of-period statement. Your accountant can manage these submissions on your behalf, ensuring deadlines are met and your digital records are always HMRC-compliant.
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