Establish VAT and insurance (Stage 1)

Project VAT Position

The Project Manager is to confirm with the Imperial Finance Tax Team the rate of VAT to be used. The Project Manager will inform the Cost Manager of the agreed VAT rate.

Project insurance requirements

The Project Manager shall advise the Imperial Insurance Manager of the following information for all projects exceeding £1 million:

  • Net forecast build cost, including contingencies
  • Start and completion dates of works on site
  • The location where the works will take place
  • Brief description of works
  • Any sectional completions

Imperial's insurance requirements with respect to professional indemnity, public liability, employers liability and contract works are defined in the framework agreements and contract data. The Project Manager should consult the Insurance Manager and the Procurement Manager with respect to any non-framework appointment insurances.

For projects with a value less than £1 million the Category Manager (Construction) will advise the Insurance Manager.