287 others answered this question

Question 2c ii

VAT payable for the quarter ended 31/3/2013 was £30,030.

For the quarters ended 31 December 2010 and 30 September 2012, Greenzone Ltd was two months late in submitting its VAT returns and in paying the related VAT liabilities. All of the company’s other VAT returns have been submitted on time, and the related VAT liabilities have been paid on time.

Required:
(ii) Advise Greenzone Ltd of the default surcharge implications if it is two months late in submitting its VAT return for the quarter ended 31 March 2013 and in paying the related VAT liability; (2 marks)