Lyel Accountants is a rapidly growing accountancy firm based in Leeds. We provide services to contractors, freelancers, small businesses, and sole traders. We serve clients from a wide range of sectors, which include, nurses, doctors, care homes, and domiciliary agencies.
As a business owner, there are a thousand and one things on your mind at any time, but bookkeeping doesn’t have to be one of them! More and more businesses are outsourcing their bookkeeping to third-party experts who take care of business accounts and file taxes on the client’s behalf.
If you run a VAT-registered business, whether as a sole trader or a limited company, you must submit VAT returns and payments to the HMRC every three months.
If your business earns more than £85,000 as turnover during a 12-month period, the HMRC requires you to register for VAT. Depending on the nature of your business, there may be different VAT schemes that you are eligible for. You’ll need to follow strict deadlines and a considerable amount of paperwork, which can be daunting. Luckily, the VAT accountants at Lyel Accountants can do it all for you.
