Laytons can help you understand if you need to be VAT registered and advise you whether to take up one of the available VAT schemes.

Completing a VAT return

Any business with a turnover of £85,000 or more has to be registered for VAT and submit a VAT returns usually quarterly

Some business choose to be VAT registered voluntarily.

Small businesses often take advantage of two popular VAT schemes: Cash Accounting and/or Fixed Rate Scheme (FRS).

Laytons can assist every step of the way and offer advice and support in helping you understand if you need to register or de-register and whether to use a scheme.

Why is VAT important?

VAT is the single biggest source of revenue collection in the UK.

Preparation and submission of VAT returns is very topical with the recent introduction of ‘Making Tax Digital (MTD).’ Laytons offer a wide range of support with VAT to ensure that not only are you fully compliant with MTD but also that you have a bookkeeping system which is right for you.

Some business feel under pressure to sign up for particular accounting and bookkeeping software. Laytons has a strong knowledge of all the main Accounting software systems (XERO, Sage, Quickbooks etc) allowing us to be able to work with you regardless of your software choice.

We also work with clients who prefer to use spreadsheets and bank downloads.

Laytons have plenty of options for you and your business.

---