VAT

VAT can be complex, but managing it doesn't have to be. At SRC Advisory, we work closely with businesses to help them understand their VAT obligations, maintain accurate records and meet their reporting requirements with confidence.

Whether you're registering for VAT for the first time, preparing regular returns or dealing with a more complex transaction, our experienced team is here to provide practical advice and reliable support.

We understand that every business operates differently. Our approach is personal and proactive, taking the time to understand your circumstances and provide guidance tailored to your business and its wider financial goals.

Our VAT Services

VAT Registration & Deregistration

Understanding when to register for VAT, which scheme to use and when deregistration may be appropriate is an important part of managing your business.

We can help you understand the requirements and assist with:

• VAT registration and deregistration
• Advice on VAT registration requirements and thresholds
• VAT scheme selection and changes
• VAT registration details and HMRC correspondence
• Guidance on the VAT implications of changes to your business

Whether you're starting a new business, approaching the VAT registration threshold or reviewing your existing arrangements, we're here to help you understand your options.

VAT Returns & Compliance

Preparing accurate VAT returns and maintaining appropriate records are essential to meeting your reporting obligations.

At SRC Advisory, we provide ongoing VAT compliance support, helping businesses manage their returns and related requirements.

Our services include:

• Preparation and submission of VAT returns
• Standard and Flat Rate Scheme VAT returns
• Nil and final VAT returns
• Review of VAT calculations and supporting records
• Assistance with VAT corrections and amendments
• Support with Making Tax Digital (MTD) requirements

We aim to make the VAT reporting process as straightforward as possible, providing dependable support and helping you stay on top of your obligations.

VAT Advice & Planning

VAT treatment can vary depending on the nature of your business, the goods or services you provide and the transactions you undertake.

Our team can provide practical guidance to help you understand how VAT applies to your circumstances.

Our services include:

• Advice on VAT rates and treatment of transactions
• VAT considerations for different business activities
• Guidance on complex or unusual transactions
• Cross-border VAT considerations
• VAT planning and compliance support
• Assistance with HMRC VAT enquiries and correspondence

We take the time to explain the requirements clearly, helping you make informed decisions and manage potential VAT risks.

VAT Records & Bookkeeping Support

Good record keeping is an important part of managing VAT effectively. Maintaining accurate, up-to-date financial records can help make VAT reporting more straightforward and give you a clearer understanding of your business's finances.

At SRC Advisory, our VAT, accounting and bookkeeping specialists work closely together to provide joined-up support with your financial records and reporting requirements.

We are a Xero Gold Partner and also support QuickBooks and all major cloud accounting software, helping businesses choose and use systems that suit their needs.

Whether you manage your own bookkeeping or would prefer ongoing assistance, our team can provide practical guidance and support with your accounting software, VAT records and related reporting processes.

Supporting Your Business as It Grows

VAT responsibilities can change as your business develops, whether you're increasing turnover, expanding into new markets or changing the way you operate.

At SRC Advisory, we believe good VAT support should go beyond preparing returns. We aim to build lasting relationships with our clients, providing clear advice and ongoing guidance as their circumstances evolve.

Our VAT specialists work closely with our accounting and tax teams, giving you access to joined-up support across your wider business and financial responsibilities.

Whether you need help with a one-off VAT matter or ongoing compliance, we're here to support you every step of the way.

Contact our team to discuss your VAT requirements.