Total Financial Wellbeing

Standard Terms & Conditions

This document should be read in conjunction with your engagement letter as applicable to the services set out in your Scope of Services.

Services in this document:


TERMS OF BUSINESS

The following terms of business apply to all engagements accepted by GBJ LLP.. All work is carried out under these terms except where changes are expressly agreed in writing.

1.0 Applicable law

1.1 Our engagement letter, the schedules of services and our standard terms and conditions of business are governed by, and should be construed in accordance with English law. Each party agrees that the courts of England will have exclusive jurisdiction in relation to any claim, dispute or difference concerning this engagement letter and any matter arising from it on any basis. Each party irrevocably waives any right to object to any action being brought in those Courts, to claim that the action has been brought in an inappropriate forum, or to claim that those Courts do not have jurisdiction.

2.0 Client identification

2.1 As with other professional services firms, we are required to identify our clients for the purposes of the UK anti-money laundering legislation. We may request from you, and retain, such information and documentation as we require for these purposes and/or make searches of appropriate databases. If we are not able to obtain satisfactory evidence of your identity, we will not be able to proceed with the engagement.

3.0 Client money

3.1 We may, from time to time, hold money on your behalf. The money will be held in trust in a client bank account, which is segregated from the firm’s funds. The account will be operated, and all funds dealt with, in accordance with the Clients’ Money Regulations of the Institute of Chartered Accountants in England and Wales.

3.2 We will return monies held on your behalf promptly as soon as there is no longer any reason to retain those funds. If any funds remain in our client account that are unclaimed and the client to which they relate has remained untraced for five years or we as a firm cease to practise then we may pay those monies to a registered charity.

4.0 Commissions or other benefits

4.1 In some circumstances we may receive commissions or other benefits for introductions to other professionals or in respect of transactions which we arrange for you. Where this happens we will notify you in writing of the amount and terms of payment and receipt of any such commissions or benefits. The fees you would otherwise pay will not be reduced by the amount of the commissions or benefits.  You agree that we can retain the commission or other benefits without being liable to account to you for any such amounts.

5.0 Complaints

5.1 We are committed to providing you with a high quality service that is both efficient and effective. However, should there be any cause for complaint in relation to any aspect of our service please contact Nigel Green. We agree to look into any complaint carefully and promptly and do everything reasonable to put it right. If you are still not satisfied you can refer your complaint to our professional body, the Institute of Chartered Accountants in England and Wales.

6.0 Confidentiality

6.1 Unless we are authorised by you to disclose information on your behalf, we confirm that where you give us confidential information we shall at all times during and after this engagement keep it confidential, except as required by law, by our insurers or as provided for in regulatory, ethical, or other professional pronouncements or as part of an external peer review applicable to us or our engagement. this undertaking will apply during and after this engagement.

6.2 In addition, if we act for other clients whose interests are or may be adverse to yours, we will manage the conflict by implementing additional safeguards to preserve confidentiality. Safeguards may include measures such as separate teams, physical separation of teams, and separate arrangements for storage of and access to information.

6.3 You agree that the effective implementation of such steps or safeguards as described above will provide adequate measures to avoid any real risk of confidentiality being impaired.

6.4 We may, on occasions, subcontract work on your affairs to other tax or accounting professionals. The subcontractors will be bound by our client confidentiality terms.

6.5 We reserve the right, for the purpose of promotional activity, training or for other business purpose, to mention that you are a client. As stated above we will not disclose any confidential information.

7.0 Conflicts of interest

7.1 We will inform you if we become aware of any conflict of interest in our relationship with you or in our relationship with you and another client unless we are unable to do so because of our confidentiality obligations. We have safeguards that can be implemented to protect the interests of different clients if a conflict arises. Where conflicts are identified which cannot be managed in a way that protects your interests then we regret that we will be unable to provide further services.

7.2 If there is a conflict of interest that is capable of being addressed successfully by the adoption of suitable safeguards to protect your interests then we will adopt those safeguards. You agree that we reserve the right to act during and after our engagement for other clients whose interests are or may be competing with or adverse to yours subject of course to our obligations of confidentiality and the safeguards set out in the paragraph on confidentiality above.

8.0 Data protection

8.1 This clause applies to personal data provided by or on behalf of you in connection with an agreement to provide business services or any engagement letter. Each party shall comply with the Data Protection Act 1998 (DPA) when processing such personal data. in particular. You shall ensure that any disclosure of personal data to us complies with the DPA.

8.2 We shall use appropriate technical and organisational measures to protect against unauthorised or unlawful processing of personal data and against accidental loss or destruction of, or damage to, personal data. We shall not sub-contract any processing of personal data unless that personal data continues to be subject to an appropriate level of protection. To the extent we act as data processor for you, we shall only process personal data in accordance with your instructions.

8.3 We shall notify you in 10 working days in the event of an individual asking for copies of their personal data, a complaint about processing of personal data or a notice from a relevant Data Protection Authority. You and we shall consult and co-operate with each other when responding to any such request, complaint or notice.

8.4 We shall answer your reasonable enquiries to enable you to monitor compliance with this clause.

9.0 Disengagement

9.1 Should we resign or be requested to resign we will normally issue a disengagement letter to ensure that our respective responsibilities are clear. Should we have no contact with you for a period of twelve months or more we may issue to your last known address a disengagement letter and hence cease to act.

10.0 Electronic and other communication

10.1 Unless you instruct us otherwise we may, where appropriate, communicate with you and with third parties via email or by other electronic means. The recipient is responsible for virus checking emails and any attachments.

10.2 With electronic communication there is a risk of non-receipt, delayed receipt, inadvertent misdirection or interception by third parties. We use virus-scanning software to reduce the risk of viruses and similar damaging items being transmitted through emails or electronic storage devices. However electronic communication is not totally secure and we cannot be held responsible for damage or loss caused by viruses nor for communications which are corrupted or altered after despatch. Nor can we accept any liability for problems or accidental errors relating to this means of communication especially in relation to commercially sensitive material. These are risks you must bear in return for greater efficiency and lower costs. If you do not wish to accept these risks please let us know and we will communicate by paper mail, other than where electronic submission is mandatory.

10.3 Any communication by us with you sent through the post [or DX] system is deemed to arrive at your postal address two working days after the day that the document was sent.

11.0 Fees and payment terms

11.1 Our fees may depend not only upon the time spent on your affairs but also on the level of skill and responsibility and the importance and value of the advice that we provide, as well as the level of risk.

11.2 If we provide you with an estimate of our fees for any specific work, then the estimate will not be contractually binding unless we explicitly state that that will be the case.

11.3 Where requested we may indicate a fixed fee for the provision of specific services or an indicative range of fees for a particular assignment. It is not our practice to identify fixed fees for more than a year ahead as such fee quotes need to be reviewed in the light of events. If it becomes apparent to us, due to unforeseen circumstances, that a fee quote is inadequate, we reserve the right to notify you of a revised figure or range and to seek your agreement thereto.

11.4 In some cases, you may be entitled to assistance with your professional fees, particularly in relation to any investigation into your tax affairs by HMRC. Assistance may be provided through insurance policies you hold or via membership of a professional or trade body.

Other than where such insurance was arranged through us you will need to advise us of any such insurance cover that you have. You will remain liable for our fees regardless of whether all or part are liable to be paid by your insurers.

11.5 We will bill periodically as agreed  and our invoices will are due for payment /within 14 days of issue. Our fees are exclusive of VAT which will be added where it is chargeable. Any disbursements we incur on your behalf and expenses incurred in the course of carrying out our work for you will be added to our invoices where appropriate.

11.6 Unless otherwise agreed to the contrary our fees do not include the costs of any third party, counsel or other professional fees.

11.7 [It is our normal practice to issue ‘Applications for Payment’ when dealing with continuous or recurring work. The payment terms for ‘Applications for Payment’ are the same as for invoiced fees. A VAT invoice will be issued to you upon receipt of your payment.]

11.8 It is common to ask clients to pay by monthly direct debit and to periodically adjust the monthly payment by reference to actual billings.

11.9 We reserve the right to charge interest on late paid invoices at the rate of [3%] [5%] above bank base rates under the Late Payment of Commercial Debts (Interest) Act 1998. We also reserve the right to suspend our services or to cease to act for you on giving written notice if payment of any fees is unduly delayed. We intend to exercise these rights only where it is fair and reasonable to do so.

11.10 If you do not accept that an invoiced fee is fair and reasonable you must notify us within 21 days of receipt, failing which you will be deemed to have accepted that payment is due.

11.11 If a client company, trust or other entity is unable or unwilling to settle our fees we reserve the right to seek payment from the individual (or parent company) giving us instructions on behalf of the client and we shall be entitled to enforce any sums due against the Group Company or individual nominated to act for you.

12.0 Implementation

12.1 We will only assist with implementation of our advice if specifically instructed and agreed in writing.

13.0 Intellectual property rights

13.1 We will retain all copyright in any document prepared by us during the course of carrying out the engagement save where the law specifically provides otherwise.

14.0 Interpretation

14.1 If any provision of our engagement letter or terms of business is held to be void, then that provision will be deemed not to form part of this contract. In the event of any conflict between these terms of business and the engagement letter or appendices, the relevant provision in the engagement letter or schedules will take precedence.

15.0 Internal disputes within a client

15.1 If we become aware of a dispute between the parties who own or are in some way involved in the ownership and management of the business, it should be noted that our client is the business and we would not provide information or services to one party without the express knowledge and permission of all parties. Unless otherwise agreed by all parties we will continue to supply information to the [registered office/normal place of business] for the attention of the [directors/proprietors]. If conflicting advice, information or instructions are received from different [directors/principals] in the business we will refer the matter back [to the board of directors/the partnership] and take no further action until the [board/partnership] has agreed the action to be taken.

16.0 Investment advice (including insurance mediation services)

16.1 Investment business is regulated by the Financial Services and Markets Act 2000. If during the provision of professional services to you, you need advice on investments including insurances, we may have to refer you to someone who is authorised by the Financial Conduct Authority [or licensed by a Designated Professional Body], as we are not.

17.0 Lien

17.1 Insofar as we are permitted to so by law or professional guidelines, we reserve the right to exercise a lien over all funds, documents and records in our possession relating to all engagements for you until all outstanding fees and disbursements are paid in full.

18.0 Limitation of third party rights

18.1 The advice and information we provide to you as part of our service is for your sole use and not for any third party to whom you may communicate it unless we have expressly agreed in the engagement letter that a specified third party may rely on our work. We accept no responsibility to third parties, including any group company to whom the engagement letter is not addressed, for any advice, information or material produced as part of our work for you which you make available to them. A party to this agreement is the only person who has the right to enforce any of its terms and no rights or benefits are conferred on any third party under the Contracts (Rights of Third Parties) Act 1999.

19.0 Period of engagement and termination

19.1 Unless otherwise agreed in our engagement letter, our work will begin when we receive implicit or explicit acceptance of that letter. Except as stated in that letter we will not be responsible for periods before that date.

19.2 Each of us may terminate our agreement by giving not less than 21 days notice in writing to the other party except where you fail to cooperate with us or we have reason to believe that you have provided us [or HMRC] with misleading information, in which case we may terminate this agreement immediately. Termination will be without prejudice to any rights that may have accrued to either of us prior to termination.

19.3 In the event of termination of our contract, we will endeavour to agree with you the arrangements for the completion of work in progress at that time, unless we are required for legal or regulatory reasons to cease work immediately. In that event, we shall not be required to carry out further work and shall not be responsible or liable for any consequences arising from termination.

20.0 Professional rules and statutory obligations

20.1 We will observe and act in accordance with the bye-laws, regulations and code of ethics of the Institute of Chartered Accountants in England and Wales and will accept instructions to act for you on this basis. [In particular you give us the authority to correct errors made by HMRC where we become aware of them.] We will not be liable for any loss, damage or cost arising from our compliance with statutory or regulatory obligations. You can see copies of these requirements in our offices. The requirements are also available on the internet at www.icaew.com/en/members/regulations-standards-and-guidance.  We confirm that we are Statutory Auditors eligible to conduct audits under the Companies Act 2006.When conducting audit work we are required to comply with the Ethical Standards for Auditors which can be accessed on the internet at http://www.frc.org.uk/Our-Work/Codes-Standards/Audit-and-assurance/Standards-and-guidance/Standards-and-guidance-for-auditors/Ethical-standards-for-auditors.aspx.

21.0 Quality control

21.1 As part of our ongoing commitment to providing a quality service, our files are periodically reviewed by an independent regulatory or quality control body. These reviewers are highly experienced and professional people and, of course, are bound by the same rules for confidentiality as our principal[s] [and staff].

22.0 Reliance on advice

22.1 We will endeavour to record all advice on important matters in writing. Advice given orally is not intended to be relied upon unless confirmed in writing. Therefore, if we provide oral advice (for example during the course of a meeting or a telephone conversation) and you wish to be able to rely on that advice, you must ask for the advice to be confirmed by us in writing.

23.0 Retention of papers

23.1 You have a legal responsibility to retain documents and records relevant to your financial affairs. During the course of our work we may collect information from you and others relevant to your tax and financial affairs. We will return any original documents to you [if requested]. Documents and records relevant to your tax affairs are required by law to be retained as follows:

Individuals, trustees and partnerships:

  • with trading or rental income: 5 years and 10 months after the end of the tax year
  • otherwise: 22 months after the end of the tax year

Companies, Limited liability Partnerships, and other corporate entities:

  • 6 years from the end of the accounting period

23.2 Whilst certain documents may legally belong to you, we may destroy correspondence and other papers that we store electronically or otherwise that are more than [seven] years old, except documents we think may be of continuing significance. You must tell us if you wish us to keep any document for any longer period.

24.0 The Provision of Services Regulations 2009

24.1 We are registered to carry on audit work in the UK and Ireland by the Institute of Chartered Accountants in England and Wales. Details of our audit registration can be viewed at www.auditregister.org.uk for the UK under reference number C001100312.

  • Our professional indemnity insurer is Royal and Sun Alliance. The territorial coverage is worldwide excluding professional business carried out from an office in the United States of America or Canada and excludes any action for a claim brought in any court in the United States or Canada.

ACTING AS AUDITORS UNDER THE COMPANIES ACT 2006

1.0 RESPONSIBILITIES AND SCOPE FOR AUDIT SERVICES

1.1 Your responsibilities as [directors] [members]

1.1.1 As [directors] [members] of the [company] [limited liability partnership], you are responsible for preparing financial statements which give a true and fair view and which have been prepared in accordance with the Companies Act 2006 (the Act). As [directors] [designated members] you must not approve the financial statements unless you are satisfied that they give a true and fair view of the assets, liabilities, financial position and profit or loss of the [company] [limited liability partnership].

1.1.2 In preparing the financial statements, you are required to:

  • select suitable accounting policies and then apply them consistently;
  • make judgements and estimates that are reasonable and prudent; and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the [company] [limited liability partnership] will continue in business.
  • You are responsible for keeping adequate accounting records that set out with reasonable accuracy at any time the [company’s] [limited liability partnership’s] financial position, and for ensuring that the financial statements comply with [United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice (UKGAAP))] [International Financial Reporting Standards (IFRSs) as adopted by the European Union] and with the Companies Act 2006 and give a true and fair view.
  • You are also responsible for such internal control as you determine is necessary to enable the preparation of financial statements that are free from material misstatement whether due to fraud or error.
  • You are also responsible for safeguarding the assets of the [company] [limited liability partnership] and hence for taking reasonable steps to prevent and detect fraud and other irregularities.

1.1.6 You are responsible for ensuring that the [company] [limited liability partnership] complies with laws and regulations that apply to its activities, and for preventing non-compliance and detecting any that occurs.

1.1.7 All information, including minutes of management and [shareholders’] [directors’] [members’] meetings, that we need to do our work. [Audited companies You have also undertaken to provide us with unrestricted access to any persons from whom we deem it necessary to obtain audit evidence. Each director is required to take all steps that he ought to take as a director in order to make himself aware of any relevant audit information and to establish that we are aware of that information.]

1.1.8 If financial information is published, which includes a report by us or is otherwise connected to us, on the [company’s] [limited liability partnership’s] website or by other electronic means, you must inform us of the electronic publication and get our consent before it occurs and ensure that it presents the financial information [and] [chartered accountants] [auditor’s] [report] properly. We have the right to withhold consent to the electronic publication of [our report or] the financial statements if they are to be published in an inappropriate manner.

1.1.8 You must set up controls to prevent or detect quickly any changes to electronically published information. We are not responsible for reviewing these controls nor for keeping the information under review after it is first published. You are responsible for the maintenance and integrity of electronically published information, and we accept no responsibility for changes made to [any] [audited] information after it is first posted.

1.2 Our responsibilities as statutory auditors

1.2.1 We have a statutory responsibility to report to the members as a body, whether in our opinion the financial statements have been properly prepared in accordance with [UK GAAP] [IFRSs], whether they have been prepared in accordance with the Companies Act 2006 and whether they give a true and fair view. [We are also required to report whether the information given in the directors’ report is consistent with the financial statements]. In arriving at our opinion, we are required to consider the following matters, and report on any that we are not satisfied with:

  1. whether the [company] [limited liability partnership] has kept adequate accounting records, and whether branches that we have not visited have sent in returns adequate for our audit;
  2. whether the [company’s] [limited liability partnership’s] individual accounts are in agreement with the accounting records and returns; [and]
  3. whether we have obtained all the information and explanations which we consider necessary for the purposes of our audit.

1.2.2 We may also need to deal with certain other matters in our report. [For example, if the financial statements do not give certain details of directors’ remuneration specified by law, the Companies Act 2006 requires us to disclose such matters in our report.] If the [company] [limited liability partnership] prepares accounts and reports in accordance with the small companies regime when in our opinion it is not entitled to do so we are required to state that fact in our report.

1.2.3 We have a professional responsibility to report if the financial statements do not significantly comply with applicable financial reporting standards, unless we believe there is a good reason for the non-compliance. In deciding whether or not this is the case, we consider:

  1. whether the non-compliance is necessary for the financial statements to give a true and fair view; and
  2. whether the non-compliance has been clearly disclosed.

1.2.4 We also have a professional responsibility to consider whether other information in documents containing audited financial statements is consistent with those financial statements.

1.2.5 In respect of abbreviated accounts prepared for filing purposes, we will prepare a special auditors’ report in accordance with s449 of Companies Act 2006.

1.2.6 The Senior Statutory Auditor under s504 Companies Act 2006 is Nigel Green.

1.2.7 As noted in 1.2.1 above, our report is made solely to the [company’s] [limited liability partnership’s] members, as a body, in accordance with Part 3 of Chapter 16 of the Companies Act 2006. Our audit work will be undertaken so that we might state to the [company’s] [limited liability partnership’s] members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the [company] [limited liability partnership] and the [company’s] [limited liability partnership’s] members as a body, for our audit work, the audit report, or for the opinions we will form. The audit of the financial statements does not relieve you of your responsibilities.

1.2.8 In the event that we cease to act as statutory auditors for the [company] [limited liability partnership] we are required by paragraph 9(3) of schedule 10 to the Companies Act 2006, [as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of the Companies Act 2006) Regulations 2008] to make available, if requested, all relevant information concerning the audit of the [company] [limited liability partnership] to our successors as statutory auditors. You agree to cover any reasonable costs of making such information available that we may incur in fulfilling our statutory duty.

1.3 Scope of audit

1.3.1 We will carry out our audit in accordance with the International Standards of Auditing (UK and Ireland). Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatements. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors’ judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. Because of the test nature and other inherent limitations of an audit, together with the inherent limitations of any accounting and internal control system, there is an unavoidable risk that even some material misstatements may remain undiscovered.

1.3.2 We shall obtain an understanding of the accounting and internal control systems in order to assess their adequacy as a basis for the preparation of the financial statements and to establish whether adequate accounting records have been maintained by the [company] [limited liability partnership]. We shall expect to obtain such appropriate evidence as we consider sufficient to enable us to draw reasonable conclusions there from. In addition to our report on the financial statements, we will provide you with a separate letter concerning any significant deficiencies in accounting and internal control systems which come to our notice.

1.3.3 The nature and extent of our audit will vary according to our assessment of the [company’s] [limited liability partnership’s] accounting system and, [where we wish to rely on it] the internal control system, and may cover any aspect of the business’s operations that we consider appropriate. Our audit is not designed to identify all significant deficiencies in the [company’s] [limited liability partnership’s] systems and internal controls but, if we detect significant deficiencies we will report them to you in writing. [You may not show this report to third parties without our prior written consent. We will grant consent on the basis that the report is only prepared in the sole interests of the [company] [limited liability partnership] and that we accept no duty or responsibility to any other party as concerns the report].

1.3.4 As part of our normal audit procedures, we may ask you to confirm in writing representations you have made to us during the audit. In particular, where misstatements in the financial statements that we bring to your attention are not adjusted, you must state your reasons. In connection with representations and the supply of information to us generally, we draw your attention to section 501 of the Companies Act 2006 under which it is an offence for anyone to recklessly or knowingly supply information to the auditors that is false or misleading and to fail to promptly provide information requested.

  • To help us examine your financial statements, we will ask to see all documents or statements that are due to be issued with the financial statements. [Companies only We are also entitled to receive details of all written resolutions that are to be circulated to members, to attend all the company’s general meetings and to receive notice of them all.]

1.3.6 You are responsible for safeguarding the [company’s] [limited liability partnership’s] assets and for preventing and detecting fraud, error and non-compliance with law or regulations. We will plan our audit so that we can reasonably expect to detect significant misstatements in the financial statements or accounting records (including those resulting from fraud, error or non-compliance with law or regulations), but you cannot rely on us finding all such errors.

  • We shall not be treated as having notice, for the purposes of our audit responsibilities, of information provided to members of our firm (principals and staff) other than those engaged on the audit (for example information provided in connection with accounting, taxation and other services
  • In respect of the expected form and content of our report, we refer you to the most recent bulletin on auditors’ reports published by the Financial Reporting Council. The form and content of our report may need to be amended in the light of our findings.

1.3.9 Once we have issued our report, we have no further responsibility in relation to the financial statements for that financial year. However, we expect that you will inform us of any material event occurring between the date of our report and the date the financial statements are sent out in accordance with section 423 Companies Act 2006 which may affect the financial statements.

1.3.10 To ensure that there is effective two-way communication between us and to comply with the requirements of International Standards on Auditing (UK and Ireland) we will:

  • contact you prior to the audit to discuss any relevant matters, the planned scope and timing of the audit and to agree any required action; and
  • contact you after the audit to discuss any matters arising from the audit and to confirm any agreed action.

We will of course contact you more frequently and regularly about audit and other matters during the course of the audit.

PREPARATION OF STATUTORY FINANCIAL STATEMENTS IN COMPLIANCE WITH THE COMPANIES ACT 2006

1.0 RESPONSIBILITIES AND SCOPE FOR FINANCIAL STATEMENTS PREPARATION SERVICES

1.1 Your responsibilities as [directors] [members]

1.1.1 As [directors] [members] of the [company] [limited liability partnership], you are responsible for preparing financial statements which give a true and fair view and which have been prepared in accordance with the Companies Act 2006 (the Act). As [directors] [designated members] you must not approve the financial statements unless you are satisfied that they give a true and fair view of the assets, liabilities, financial position and profit or loss of the [company] [limited liability partnership].

1.1.2 In preparing the financial statements, you are required to:

  • select suitable accounting policies and then apply them consistently;
  • make judgements and estimates that are reasonable and prudent; and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the [company] [limited liability partnership] will continue in business.
  • You are responsible for keeping adequate accounting records that set out with reasonable accuracy at any time the [company’s] [limited liability partnership’s] financial position, and for ensuring that the financial statements comply with [United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice (UKGAAP))] [International Financial Reporting Standards (IFRSs) as adopted by the European Union] and with the Companies Act 2006 and give a true and fair view.
  • You are also responsible for safeguarding the assets of the [company] [limited liability partnership] and hence for taking reasonable steps to prevent and detect fraud and other irregularities.

1.1.5 If audit exemption is being taken [You are also responsible for deciding whether, in each financial year, the [company] [limited liability partnership] meets the conditions for exemption from an audit, as set out in section 477 or 480 of the Companies Act 2006, and for deciding whether the exemption cannot be claimed that year.]

1.1.6 You are responsible for ensuring that the [company] [limited liability partnership] complies with laws and regulations that apply to its activities, and for preventing non-compliance and detecting any that occurs.

1.1.7 You have undertaken to make available to us, as and when required, all the [company’s] [limited liability partnership’s] accounting records and related financial information, including minutes of management and [shareholders’] [directors’] [members’] meetings, that we need to do our work.

1.1.8 If financial information is published, which includes a report by us or is otherwise connected to us, on the [company’s] [limited liability partnership’s] website or by other electronic means, you must inform us of the electronic publication and get our consent before it occurs and ensure that it presents the financial information [and] [chartered accountants] [auditor’s] [report] properly. We have the right to withhold consent to the electronic publication of [our report or] the financial statements if they are to be published in an inappropriate manner.

1.1.9 You must set up controls to prevent or detect quickly any changes to electronically published information. We are not responsible for reviewing these controls nor for keeping the information under review after it is first published. You are responsible for the maintenance and integrity of electronically published information, and we accept no responsibility for changes made to [any] [audited] information after it is first posted.

  • Our responsibilities as accountants

1.2.1 You have asked us to help you prepare the financial statements in accordance with the requirements of the Companies Act 2006, [to enable profits to be calculated to meet the requirements of current tax legislation and that provide sufficient and relevant information to complete a tax return]. We will compile the financial statements for your approval based on the accounting records [that you maintain] and the information and explanations that you give us.

  • [We shall plan our work on the basis that no report on the financial statements is required by statute or regulation for the year, unless you inform us in writing to the contrary.] We will make enquiries of management and undertake any procedures that we judge appropriate [but are under no obligation to perform procedures that may be required for assurance engagements such as audits or reviews.] Where an assurance or agreed upon procedures engagement is to be undertaken, then the full details of what is to be undertaken and the result of that work needs to be agreed in writing.

1.2.3 Non-audit clients [You have told us that the [company] [limited liability partnership] is exempt from an audit of the financial statements. We will not check whether this is the case. However, if we find that the [company] [limited liability partnership] is not entitled to the exemption, we will inform you of this.]

1.2.4 Non-audit clients [Our work will not be an audit of the financial statements in accordance with International Standards of Auditing (UK and Ireland). So we will not be able to provide any assurance that the accounting records or the financial statements are free from material misstatement, whether caused by fraud, other irregularities or error nor to identify weaknesses in internal controls.]

1.2.5 Non-audit clients [Since we will not carry out an audit, nor confirm in any way the accuracy or reasonableness of the accounting records, we cannot provide any assurance whether the financial statements that we prepare from those records will present a true and fair view.]

1.2.6 We will advise you on whether your records are adequate for preparation of the financial statements and recommend improvements.

1.2.7 We have a professional duty to compile financial statements that conform with generally accepted accounting principles from the accounting records and information and explanations given to us. The accounting policies on which the financial statements have been compiled will be disclosed in an accounting policy [and will be referred to in our accountants’ report]. We will not compile financial statements where the accounting principles, or the accounting policies selected by management are inappropriate.

1.2.8 We also have a professional responsibility not to allow our name to be associated with financial statements which we believe may be misleading. Therefore, although we are not required to search for such matters, should we become aware, for any reason, that the financial statements may be misleading, we will discuss the matter with you with a view to agreeing appropriate adjustments and/or disclosures in the financial statements. In circumstances where adjustments and/or disclosures that we consider appropriate are not made or where we are not provided with appropriate information, and as a result we consider that the financial statements is misleading, we will withdraw from the engagement.

1.2.9 As part of our normal procedures we may ask you to confirm in writing any information or explanations given to us orally during our work.

1.3 Form of the accountants’ report.

1.3.1 [We will report to [the Board of Directors] [members], as appropriate, that in accordance with this engagement letter and to assist you to fulfil your responsibilities, we have not carried out an audit but have compiled the financial statements from the accounting records and from the information and explanations supplied to us. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than [the Company and the Company’s Board of Directors, as a body] [the members]for our work or for this report.]

PREPARATION OF NON STATUTORY FINANCIAL STATEMENTS IN COMPLIANCE WITH A FINANCIAL REPORTING FRAMEWORK

1.0 RESPONSIBILITIES AND SCOPE FOR FINANCIAL STATEMENTS PREPARATION SERVICES

1.1 Your responsibility for the preparation of financial statements

1.1.1 You have undertaken to make available to us, as and when required, all the accounting records and related financial information, including minutes of management meetings, which we need to do our work. You will provide us with all information and explanations relevant to the purpose and compilation of the financial statements, and you will disclose to us all relevant information in full.

1.1.2 You are responsible for ensuring that, to the best of your knowledge and belief, financial information, whether used by the business or for the financial statements, is accurate and complete. You are also responsible for ensuring that the activities of the business are conducted honestly, and for safeguarding the assets of the business and for taking reasonable steps to prevent and detect fraud and other irregularities.

1.1.3 You will approve and sign the financial statements to acknowledge responsibility for it, including the appropriateness of the accounting basis and for providing us with all information and explanations necessary for their compilation.

1.1.4 You are responsible for ensuring that the business complies with the laws and regulations that apply to its activities, and for preventing non-compliance and for detecting any that occurs.

  • Our responsibilities as accountants

1.2.1 You have asked us to help you prepare the financial statements which comply with [United Kingdom Accounting Standards United Kingdom Generally accepted Accounting Practice (UKGAAP)][International Financial Reporting Standards (IFRS) as adopted by the European Union] to enable profits to be calculated to meet the requirements of current tax legislation and that provide sufficient and relevant information to complete a tax return. We will compile the financial statements for your approval based on the accounting records [that you maintain] and the information and explanations that you give us.

  • We shall plan our work on the basis that no report on the financial statements is required by statute or regulation for the year, unless you inform us in writing to the contrary. We will make enquiries of management and undertake any procedures that we judge appropriate but are under no obligation to perform procedures that may be required for assurance engagements such as audits or reviews.

1.2.3 Our work will not be an audit of the financial statements in accordance with International Standards of Auditing (UK and Ireland). So we will not be able to provide any assurance that the accounting records or the financial statements are free from material misstatement, whether caused by fraud, other irregularities or error nor to identify weaknesses in internal controls.

  • Since we will not carry out an audit, nor confirm in any way the accuracy or reasonableness of the accounting records, we cannot provide any assurance whether the financial statements that we prepare from those records will present a true and fair view.

1.2.5 We will advise you on whether your records are adequate for preparation of the financial statements and recommend improvements.

1.2.6 We have a professional duty to compile financial statements that conform with generally accepted accounting principles from the accounting records and information and explanations given to us. The accounting policies on which the financial statements have been compiled will be disclosed in an accounting policy [and will be referred to in our accountants’ report]. We will not compile financial statements where the accounting principles, or the accounting policies selected by management are inappropriate.

1.2.7 We also have a professional responsibility not to allow our name to be associated with financial [information] [statements] which we believe may be misleading. Therefore, although we are not required to search for such matters, should we become aware, for any reason, that the financial statements may be misleading, we will discuss the matter with you with a view to agreeing appropriate adjustments and/or disclosures in the financial statements. In circumstances where adjustments and/or disclosures that we consider appropriate are not made or where we are not provided with appropriate information, and as a result we consider that the financial statements are misleading, we will withdraw from the engagement.

1.2.8 As part of our normal procedures we may ask you to confirm in writing any information or explanations given to us orally during our work.

1.3 Form of the accountants’ report.

1.3.1 We will report to you, as appropriate, that in accordance with this engagement letter, we have not carried out an audit but have compiled the financial statements from the accounting records and from the information and explanations supplied to us. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than youfor our work or for this report.

PREPARATION AND MAINTENANCE OF ACCOUNTING RECORDS

1.0 RESPONSIBILITIES AND SCOPE FOR ACCOUNTING SERVICES

1.1 Your responsibility for the provision of information

1.1.1 You have undertaken to make available to us, as and when required, all the accounting records and related financial information, including minutes of management meetings, which we need to do our work. You will provide us with all information and explanations relevant to the purpose and compilation of the accounting records, and you will disclose to us all relevant information in full.

1.1.2 You are responsible for ensuring that, to the best of your knowledge and belief, financial information, whether used by the business or for the accounting records, is accurate and complete. You are also responsible for ensuring that the activities of the business are conducted honestly, and for safeguarding the assets of the business and for taking reasonable steps to prevent and detect fraud and other irregularities.

1.1.3 You are responsible for ensuring that the business complies with the laws and regulations that apply to its activities, and for preventing non-compliance and for detecting any that occurs.

1.2 Preparation and maintenance of accounting records

As agreed in scope of work set out in engagement letter.

Our responsibilities

1.2.1 We have agreed to carry out the following accounting and other services on your behalf:

  1. write up the accounting records of the [business] [company] [partnership] and;
  2. complete the postings to the nominal ledger.

Your responsibilities

1.2.2 You have agreed that [you] [your staff] will:

  1. keep the records of receipts and payments;
  2. reconcile the balances monthly with the bank statements;
  3. post and balance the purchases and sales ledgers;
  4. extract a detailed list of ledger balances;
  5. [prepare details of the annual stocktaking, suitably priced and extended in a form which will enable us to verify the prices readily by reference to suppliers’ invoices] [provide us with a copy of the valuation report produced by your independent stocktakers]; and
  6. prepare details of work-in-progress at the accounting date and make available to us the documents and other information from which the statement is compiled.

TAXATION SERVICES

Personal Tax – individuals, sole traders and couples

Recurring compliance work

1. We will prepare your self assessment tax returns together with any supplementary pages required from the information and explanations that you provide to us. After obtaining your approval and signature, we will submit your returns to HM Revenue & Customs (HMRC).

2. We will prepare your business accounts in accordance with generally accepted accounting practice from the books, accounting records and other information and explanations provided to us on your behalf.

3. We will calculate your income tax, national insurance contributions (NIC) and any capital gains tax liabilities and tell you how much you should pay and when. We will advise on the interest, penalty and surcharge implications if tax or NIC is paid late. We will also check HMRC’s calculation of your tax and NIC liabilities and initiate repayment claims if tax or NIC has been overpaid.

4. Other than as regards tax credits (see below) we will advise you as to possible tax return related claims and elections arising from information supplied by you. Where instructed by you, we will make such claims and elections in the form and manner required by HMRC.

5. We will review PAYE notices of coding provided to us and advise accordingly. Ad hoc and advisory work

6. Where you have instructed us to do so, we will also provide such other taxation ad hoc and advisory services as may be agreed between us from time to time. These may be the subject of a separate engagement letter at our option. Where appropriate we will discuss and agree an additional fee for such work when it is commissioned by you. Examples of such work include:

  • Advising on ad hoc transactions, preparing additional supplementary pages to your tax return and calculating any related liabilities;
  • Dealing with any enquiry opened into your tax return by HMRC;
  • Preparing any amended returns which may be required and corresponding with HMRC as necessary; and
  • Advising on the rules relating to and assisting with VAT registration.

7. Where specialist advice is required on occasions we may need to seek this from or refer you to appropriate specialists.

Tax Credits

8. If we agree to advise you on tax credits we will issue a separate letter or schedule to cover this area. Tax credits are, in effect, a social security benefit. Your entitlement or otherwise will depend not only on your own circumstances but also those of your household and we would require all relevant information to advise in this regard.

Changes in the law

9. We will not accept responsibility if you act on advice given by us on an earlier occasion without first confirming with us that the advice is still valid in the light of any change in the law or your circumstances.

10. We will accept no liability for losses arising from changes in the law or the interpretation thereof that are first published after the date on which the advice is given.

Your responsibilities

11. You are legally responsible for:

  1. Ensuring that your self assessment tax returns are correct and complete;
  2. Filing any returns by the due date; and
  3. Making payment of tax on time.

Failure to do this may lead to automatic penalties, surcharges and/or interest. Taxpayers who sign their returns cannot delegate this legal responsibility to others. You agree to check that returns that we have prepared for you are complete before you approve and sign them.

12. To enable us to carry out our work you agree:

  1. That all returns are to be made on the basis of full disclosure of all sources of income, charges, allowances and capital transactions;
  2. To provide full information necessary for dealing with your affairs: we will rely on the information and documents being true, correct and complete and will not audit the information or those documents;
  3. To authorise us to approach such third parties as may be appropriate for information that we consider necessary to deal with your affairs; and
  4. To provide us with information in sufficient time for your tax return to be completed and submitted by the due date following the end of the tax year. In order that we can do this, we need to receive all relevant information at least 30 days before thedue date. Where feasible we may agree to complete your return within a shorter period but may charge an additional fee for so doing.

13. You will keep us informed of material changes in your circumstances that could affect your tax liability. If you are unsure whether the change is material or not please let us know so that we can assess its significance.

14. You will forward to us HMRC statements of account, copies of notices of assessment, letters and other communications received from HMRC in time to enable us to deal with them as may be necessary within the statutory time limits. Although HMRC have the TAXGUIDE 1/13 (TECH 02/13 TAX) 23 authority to communicate with us when form 64-8 has been signed and submitted it is essential that you let us have copies of any correspondence received because HMRC are not obliged to send us copies of all communications issued to you.

15. You are responsible for monitoring your monthly turnover to establish whether you are liable to register for VAT. If you do not understand what you need to do, please ask us. If you exceed the VAT registration threshold, and wish us to assist you in notifying HMRC of your liability to be VAT registered we will be pleased to assist you in the VAT registration process. You should notify us of your instructions to assist in your VAT registration in good time to enable a VAT registration form to be submitted within the time limit of one month following the month in which you exceed the VAT registration threshold in force at that time. We will not be responsible if you fail to notify us in time and incur a late registration penalty as a result.]

16. Our services as set out above are subject to the limitations on our liability set out in the engagement letter and in paragraph 18 of our standard terms and conditions of business. These are important provisions which you should read and consider carefully.

You and your spouse/partner

17. We shall advise you and your spouse [partner] on the basis that you are a family unit. You both agree that in all matters relating to your or your spouse’s [partner’s] tax and financial affairs, we may deal directly with either of you and we may discuss with either of you the tax liabilities and/or financial affairs of the other. If you wish to make any change to these arrangements at any time, please let us know.

18 In order for us to act for you as a couple in respect of a joint claim, you undertake that all instructions, information or explanations either of you gives us will be on behalf of both of you, unless you specifically tell us otherwise. Similarly, if one of you signs a document, it will be on behalf of you both unless you instruct us to the contrary. If a conflict of interest should arise between you in relation to any matter to do with your joint claim or entitlement, we reserve the right to cease acting for both of you, or to advise one or other of you to obtain independent advice.]

Corporate

Recurring compliance work

1. We will use appropriate software to apply iXBRL tags to items in the accounts as we consider appropriate for the purposes of submission of the accounts to HMRC.

2. We will, to the extent we consider necessary, manually amend or apply tags where the software has not applied automatic tagging or where we consider any automatic tagging to have been inappropriate.

3. We will provide you with detailed information regarding the tagging applied for your approval.

4. We will prepare the company’s corporate tax self assessment (CTSA) return. After obtaining the approval and signature of an authorised nominated director, we will submit it to HM Revenue & Customs (HMRC). We will not accept liability for any financial penalty or loss or other damage arising from any rejection of the iXBRL accounts by HMRC or otherwise as a result of incorrect or inappropriate tagging.

5. We will prepare the corporation tax computation and supporting schedules required for preparation of the company tax return from accounts, information and explanations provided to us on your behalf.

6. We will tell you how much tax the company should pay and when. If appropriate, we will initiate repayment claims when tax has been overpaid. We will advise on the interest and penalty implications if corporation tax is paid late.

7. We will inform you if instalment payments of corporation tax are due for an accounting period and the dates they are payable. We will calculate the quarterly instalments which should be made on the basis of information supplied by you by the date agreed.

8. We will advise you as to possible tax return related claims and elections arising from information supplied by you. Where instructed by you, we will make such claims and elections in the form and manner required by HMRC. Ad hoc and advisory work

9. Where you have instructed us to do so, we will also provide such other taxation advisory and ad hoc services as may be agreed between from time to time. These may be the subject of a separate engagement letter, at our option. Where appropriate we will discuss and agree an additional fee for such work when it is commissioned by you:

  • Advising you when corporation tax is due on loans by the company to directors or shareholders or their associates, and calculating the payments due or the amount repayable when the loans are repaid; and
  • Dealing with any enquiry opened into the company’s tax return by HMRC;
  • Preparing any amended returns which may be required and corresponding with HMRC as necessary.

10. Where specialist advice is required on occasions we may need to seek this from or refer you to appropriate specialists.

Changes in the law

11. We will not accept responsibility if you act on advice given by us on an earlier occasion without first confirming with us that the advice is still valid in the light of any change in the law or your circumstances.

12. We will accept no liability for losses arising from changes in the law or the interpretation thereof that are first published after the date on which the advice is given.

Your responsibilities

13. The Directors, on behalf of the company, are legally responsible for:

  1. Ensuring that the CTSA return (including tagging) is correct and complete;
  2. Filing any returns by the due date; and
  3. Making payment of tax on time.

Failure to do this may lead to automatic penalties, surcharges and/or interest. The signatory to the return cannot delegate this legal responsibility to others. The signatory agrees to check that returns we have prepared for the company are complete before he/she approves and signs them.

14. To enable us to carry out our work the Directors agree:

  1. To provide us with approved accounts for the company.
  2. That all returns are to be made on the basis of full disclosure of all sources of income, charges, allowances and capital transactions;
  3. To provide full information necessary for dealing with the company’s affairs: we will rely on the information and documents being true, correct and complete and will not audit the information or those documents;
  4. To authorise us to approach such third parties as may be appropriate for information that we consider necessary to deal with the company’s affairs;
  5. To provide us with information in sufficient time for the company’s CTSA return to be completed and submitted by the [due date/selected date of [ ]] following the end of the tax year. In order that we can do this we need to receive all relevant information by [ ]. Where feasible we may agree to complete your return within a shorter period but may charge an additional fee of [ ] for so doing;
  6. To provide information on matters affecting the company’s tax liability for the accounting period in respect of which instalments are due at least four weeks before the due date of each instalment. This information should include details of trading profits and other taxable activities up to the date the information is provided, together with estimates to the end of the accounting period; and
  7. To provide us with information on advances or loans made to directors, shareholders or their associates during an accounting period and any repayments made or write offs authorised at the latest within three months of the end of the relevant accounting period.

15. The Directors will keep us informed of material changes in circumstances that could affect the tax liabilities of the company. If the Directors are unsure whether the change is material or not please let us know so that we can assess its significance.

16. You will forward to us HMRC statements of account, copies of notices of assessment, letters and other communications received from HMRC in time to enable us to deal with them as may be necessary within the statutory time limits. Although HMRC have the authority to communicate with us when form 64-8 has been signed and submitted it is essential that you let us have copies of any correspondence received because HMRC are not obliged to send us copies of all communications issued to you.

17. The work carried out within this engagement will be in respect of the company’s tax affairs. Any work to be carried out for the directors on a personal basis will be set out in a separate letter of engagement.

18. You are responsible for monitoring the monthly turnover to establish whether the company is liable to register for VAT, if it is not already registered. If you do not understand what you need to do, please ask us. If the company exceeds the VAT registration threshold, and you wish us to assist in notifying HMRC of the Company’s liability to be VAT registered we will be pleased to assist in the VAT registration process. You should notify us of your instructions to act in relation to the company’s VAT registration in good time to enable a VAT registration form to be submitted within the time limit of one month following the month in which the current VAT registration turnover threshold was exceeded. We will not be responsible if we are not notified in time and a late registration penalty is incurred.

VAT returns

Recurring compliance work

1. We will [prepare/review] your [monthly/quarterly/annual] VAT returns [Intrastat returns/EC Sales lists] on the basis of the information and explanations supplied by you. The first such return to be [prepared/reviewed] by us will be the return for the period ending [date].

2. Based on the information that you provide to us we will tell you how much you should pay and when. If appropriate we will initiate repayment claims where tax has been overpaid. We will advise on the interest and penalty implications if VAT is paid late.

3. Where appropriate we will calculate the partial exemption annual adjustment. This annual adjustment will normally be made in the quarter ending [date] as the tax year for partial exemption purposes ends on [date].

4. Where appropriate we will calculate the annual Capital Goods Scheme adjustment. The adjustment will normally be made in the quarter ending [date] as the interval end date is [date].

5. We will forward to you the completed return calculations for you to review, before you approve the VAT return for onward transmission by [you/us] to HMRC. Ad hoc and advisory services

6. Where you have instructed us to do so, we will also provide such other taxation ad hoc and advisory services as may be agreed between us from time to time. These may be the subject of a separate engagement letter, at our option. Where appropriate we will discuss and agree an additional fee for this work when it is commissioned by you. Examples of such work include:

  • Reviewing and advising a suitable partial exemption method to use in preparing the
  • Dealing with all communications relating to your VAT returns [Intrastat returns/EC Sales List returns] addressed to us by HMRC or passed to us by you;
  • Making recommendations to you about the use of cash accounting, annual accounting, flat rate and other suitable methods of accounting for VAT; and
  • Providing you with advice on VAT [Excise Duty/Customs Duty/Landfill Tax/Insurance Premium Tax/Aggregates Levy/Climate Change Levy] as and when requested. Where the advice is provided in writing, the information provided and the query raised will be set out with our response.

7. Where specialist advice is required in certain areas we may need to seek this from or refer you to appropriate specialists.

Changes in the law

8. We will not accept responsibility if you act on advice given by us on an earlier occasion without first confirming with us that the advice is still valid in the light of any change in the law or your circumstances.

9. We will accept no liability for losses arising from changes in the law or the interpretation thereof that are first published on or after the date on which the advice is given.

Your responsibilities

10. You are legally responsible for:

  1. Ensuring that your returns are correct and complete;
  2. Filing any returns by the due date; and
  3. Making payment of tax on time.

Failure to do this may lead to automatic penalties, surcharges and/or interest. The signatory to the return cannot delegate this legal responsibility to others. The signatory agrees to check that returns we have prepared for you are complete before he/she approves and signs them.

11. To enable us to carry out our work you agree:

  • That all returns are to be made on the basis of full disclosure;
  • That you are responsible for ensuring that the information provided is, to the best of your knowledge, accurate and complete.

The VAT returns are [prepared/reviewed] solely on the basis of the information provided by you and we accept no responsibility for any VAT liabilities arising due to inaccuracies or omissions in the information you provide which may lead to a misdeclaration on which penalties and interest may arise;

  1. That we can approach such third parties as may be appropriate for information we consider necessary to deal with the VAT returns; and
  2. To provide us with all the records relevant to the preparation of your [monthly/quarterly]

VAT returns as soon as possible after the return period ends. We would ordinarily need a minimum of [x] days before submission to complete our work. If the records are provided later or are incomplete or unclear thereby delaying the [preparation/review] and submission of the VAT return, we accept no responsibility for any “default surcharge” penalty that may arise. Where feasible we may agree to complete your return within a shorter period but may charge an additional fee of [ ] for so doing.

12. You will keep us informed of material changes in circumstances that could affect your VAT obligations. If you are unsure whether the change is material or not please let us know so that we can assess its significance.

13. You will forward to us HMRC statements of account, copies of notices of assessment, letters and other communications received from HMRC in time to enable us to deal with them as may be necessary within the statutory time limits. Although HMRC have the authority to communicate with us when form 64-8 has been signed and submitted it is essential that you let us have copies of any correspondence received because HMRC are not obliged to send us copies of all communications issued to you.

14. You are responsible for bringing to our attention any errors, omissions or inaccuracies in your VAT returns which you become aware of after the returns have been submitted in order that we may assist you to make a voluntary disclosure.

15. If you are involved with any other business which is not registered for VAT you are responsible for monitoring your monthly turnover to establish whether you are liable to register for VAT. If you do not understand what you need to do, please ask us. If you exceed the VAT registration threshold, and wish us to assist you in notifying HMRC of your liability to be VAT registered, you must give us clear instructions to assist you in the VAT registration process. You should notify us of your instructions in good time to enable the VAT registration application form to be submitted within the statutory time limit of one month following the month in which you exceeded the VAT registration threshold in force at that time. We will not be responsible if you fail to notify us in time and incur a late registration penalty as a result.

16. If EC Sales Lists need to be completed you are responsible for obtaining all of your customers’ VAT registration numbers in other member states and to check any that you are not completely satisfied with, with HMRC.

CORPORATE SERVICES

2.1 Company secretarial

2.1.1 A private company is required to file its financial statements at Companies House within nine months of the year end. The company will be liable to a fine if it fails to do so. We accept no responsibility for fines or regulatory action taken against the directors where the statutory financial statements are not available for filing.

2.1.2 We have agreed to act as your agent, and to: *delete as appropriate

  • submit the financial statements to the Registrar of Companies,
  • complete and submit the company’s annual return,
  • complete and submit any other forms which are required by law to be filed at Companies House, provided that you keep us fully informed of any relevant changes or events which are required to be notified to Companies House, within one week of the change or event, and
  • maintain the statutory books

2.1.3 You have agreed to complete all the returns which are required by law to be filed at Companies House, for example, the annual return and the notification of changes in directors. We shall, of course, be pleased to advise you on these and any other company secretarial matters if requested.

CONSULTANCY SERVICES

3.1.1 There are many other areas where we can be of assistance, and we will be pleased to discuss any matters with you. These other services include:

  • reports in support of returns or claims, e.g. insurance company certificates, government grants, etc.,
  • advice on financial matters,
  • management accounting, including such matters as cash flow statements, costing systems, etc., and advice on management
  • advice on the selection and implementation of computer systems,
  • investigations for special purposes, e.g. acquisitions of other businesses or examination of specific aspects of your business, and
  • advice on the selection and recruitment of staff

INVESTMENT SERVICES

4.1 Referral to a Permitted Third Party (PTP)

4.1.1. Should you require advice on investment business which we are unable to give as we are not authorised by the Financial Conduct Authority, we can introduce you to a suitable PTP.

4.1.2 The PTP will issue you with his own terms and conditions letter, will be remunerated separately for their services and will take full responsibility for compliance with the requirements of the Financial Services and Markets Act 2000.

  • To enable us to provide you with a proper service, there may be occasions when we will need to contact you without your express permission concerning investment business matters. For example, it may be in your interests to sell a particular investment, and we would wish to inform you of this. We may therefore contact you in such circumstances. We shall, of course, comply with any restrictions you may wish to impose which you notify to us in writing.