Expert VAT Processing Across All Schemes

VAT Schemes We Cover

Standard VAT Scheme

Full input and output VAT tracking, partial exemption calculations where applicable, reverse charge handling for construction and international services, and detailed reconciliation of VAT control accounts.

Flat Rate Scheme

Correct sector percentage application, eligibility monitoring, limited cost trader identification, and first-year discount calculations.

Margin Scheme

Detailed stock record maintenance, margin calculations on individual items, and scheme-specific record-keeping requirements.

Cash Accounting Scheme

VAT accounting based on actual cash received and paid, cash flow tracking, and scheme eligibility monitoring.

VAT returns demand meticulous accuracy. Every invoice must be checked for correct VAT treatment. Different schemes have different calculation methods. Errors can result in HMRC penalties and damage your client relationships. Yet VAT work is often high-volume and time-consuming, consuming resources that could be better deployed on advisory work.

Terra Global Partners provides specialist VAT return preparation services that combine deep technical knowledge with rigorous quality processes. Our team handles the detail so you can focus on the advisory conversation.

Our VAT Processing Methodology

  1. Invoice and bill review: Every document is checked for correct VAT coding, rate application, and scheme compliance.

  2. Data processing: Transactions are recorded and categorised in your accounting software with appropriate VAT codes.

  3. VAT control account reconciliation: We reconcile the VAT return figures against the control accounts and source data.

  4. Return preparation: The completed VAT return is prepared with supporting schedules showing the detailed calculations.

  5. Quality review: A senior team member reviews the return for accuracy and completeness before delivery.

  6. Delivery and filing: The reviewed return is delivered to you with any flagged items noted. Upon your approval, we can submit to HMRC.

Making Tax Digital (MTD) Compliance

All our VAT work is fully compliant with Making Tax Digital requirements. We maintain digital links throughout the VAT return process, work within MTD-compatible software, and ensure your clients' digital records meet HMRC standards. As MTD extends to Income Tax Self-Assessment, our team is preparing to support that transition as well.

Frequently Asked Questions

  • Our team is experienced in the post-Brexit VAT rules for imports and exports, reverse charge mechanisms, and overseas VAT reporting. We correctly apply zero-rating for exports and account for import VAT on goods and services.

  • Yes. Where applicable, we prepare EC Sales Lists and Intrastat declarations alongside the VAT return, ensuring all cross-border reporting requirements are met.

  • We manage scheme transitions smoothly, including the necessary adjustments to VAT records, notifications to HMRC, and any transitional calculations required.

Get Started Today

Whether you are a sole practitioner looking to free up your time or a multi-partner firm ready to scale, Terra Global Partners is here to help. Our flexible engagement models mean you only pay for what you need, and our dedicated teams integrate seamlessly into your practice workflows.

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