The practice maintains clients' books and records. Usually this will be within an accounting software suite, in particular where the business is complicated and sophisticated.
Periodic Management Accounts
This is for those businesses with fairly sophisticated needs both for themselves and control of their customer/client records.
Final Annual Accounts
Much as for the above and, where possible, throughout the year.
For VAT Returns
Since the current annual threshold for VAT is £85,000, all businesses exceeding this level, ignoring those who determine to register early before reaching the threshold, are required to maintain their books and records on a quarterly basis (See VALUE ADDED TAX RETURNS)