07 March 2007
For many years, we have acted on behalf of a company and the pension scheme for its employees. While reviewing matters recently, we noticed — somewhat to our embarrassment — that we had never submitted a fee for the work carried out in respect of the pension scheme. We have 'flagged this up' with the clients, and they are happy to pay our account once submitted to them. We are talking about a fee for twenty years' work, which will be in the region of £15,000. Our question is regarding the VAT.
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