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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.
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. As some of the work predates the increase in VAT from 15% to 17.5% how is VAT to be accounted for in our fee? Do we charge it all at 17.5% or do we only charge 15% on the element that related to work done before 1991? Furthermore what is the...
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
