G.         VAT RETURNS

You have asked us to undertake the completion of your VAT returns.  We cannot be held responsible for any penalties or default surcharges arising from the late submission of VAT returns.  However, we will endeavour to meet the relevant deadlines if we receive all the company’s VAT records within 14 days of the end of the VAT return period.  You have undertaken that you/your staff will ensure that:

(a)        all relevant VAT records are forwarded to us within 14 days of the end of the VAT return period;

(b)        valid VAT invoices are received for all payments where VAT is being reclaimed;

(c)        the VAT rating of supplies is correctly dealt with, i.e. between positive and zero rates and exempt supplies;

(d)        we are notified in writing of any positive-rated own consumption;

(e)        any input VAT on non-business expenditure is clearly marked on supporting invoices;

(f)         we are notified each quarter of any payments to or for the benefit of directors or staff for fuel used for private mileage, together with the business mileage for each such person, for each quarter;

(g)        all supplies made by the business are shown in the records made available to us.

It should be understood that our appointment as your agent does not absolve the company or its directors from their statutory responsibilities.  We would draw your attention to the strict rules and time limits for the submission of such returns and the substantial penalties which may arise if these are not observed.  It is therefore essential that we receive full information from you promptly to enable us to ensure that the returns are made on a timely basis.  Completed returns will be sent to you for approval and signature prior to submission on the company’s behalf