PLEASE READ THESE TERMS CAREFULLY TO UNDERSTAND THE BASIS ON WHICH WE PROVIDE THE SERVICES TO YOU. This is a framework Agreement, covering all of the Services we offer. The Letter of Engagement will identify and scope the particular Services applicable to you. Any reference in this Agreement to other Services not included in your Letter of Engagement or subsequently agreed in writing can therefore be ignored.
The terms used in this Agreement, the Schedules, annexures, and Letter of Engagement will have the meanings as set out below:
IR35 Reviews for contractors
Fees
Period not trading / out of contract
Payments
Termination by you
Termination by us
Immediate termination
Consequences of termination
Additional Fees
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.
Fees for Services provided to you are as set out in the Letter of Engagement read with the Statement of Facts.
Additional Fees (over and above any package pricing where applicable)
Type of Service | Information Required | Additional Charge Applicable |
---|---|---|
BACS payment | For monthly packages not paid by Direct Debit, an admin charge will be added to your invoice for processing bank transfer payments. | £50 plus VAT |
Cheque payment | An admin charge will be added to your invoice for processing payments by cheque. | £25 plus VAT |
Cash payment | An admin charge will be added to your invoice for processing payments by cash. | £25 plus VAT |
Direct Debit failure | An admin charge will be added to your invoice for any failed direct debit payments. | £50 plus VAT |
Work on hold charge | An admin fee if your work has been put on hold for non-payment of fees | £50 plus VAT |
Missed meeting | Fee for failure to attend meeting | £50 plus VAT |
Onboarding fee | An admin fee covering onboarding and set-up on software, systems and processes | £250 plus VAT |
Cancellation fee | An admin fee covering the cancellation of services from software, systems and processes. | £100 plus VAT |
VAT
All the above sums are stated exclusive of VAT, which you will pay in addition, at the rate applicable at the relevant time upon receipt of a valid VAT invoice in each case.
Timescales and details of Information to be provided
The below timeframes and submissions are subject to you instructing us to provide such Services in terms of the Letter of Engagement or the Services or Amended Services.
Your failure to do adhere to providing information by the dates set out below, so, may result in late/no submission by us and you may incur penalties, interest, and other charges/consequences as a result, for which we will have no liability of whatsoever nature.
Type of Service | Information Required | Deadline Date | Additional Charge Applicable |
---|---|---|---|
Payroll | Changes to fixed payroll New employees Variable payroll | 20th of payroll month | |
VAT | Bills for the period Invoices for the period | 20th of the month following the end of a VAT Quarter | £100 plus VAT for late documents (at firm's discretion) |
Final Accounts | All information required for the preceding financial Year as requested | 240 days from the date of its Year End | £100 plus VAT for documents after 210 days, £75 plus VAT for additional draft accounts (after the first 2), £30 plus VAT per hour for rectifying bookkeeping errors |
Final Accounts | Response time required to queries on data provided to complete Final Accounts | 5 working days in first 240 days from the date of its Year End. 2 working days between 241 and 270 days from the date of its Year End | £50 plus VAT on each occasion |
Interim Estimated Accounts | Fee for the filing of Interim Estimated Accounts | £75 plus VAT | |
Accounting Period Extension | Fee for applying for a 3-month extension of year end accounts submission date | £100 plus VAT | |
Confirmation Statement | Amendments required and Approval | 5 days before submission deadline | £25+VAT if not included in package, £25+VAT for late approval for filing |
Director’s Tax Self-Assessment | All documents and information necessary and requested | 30 September after the tax year’s end | £50 for documents received after September |
Individual’s Tax Self-Assessment | All documents and information necessary and requested | 30 November after the tax year’s end | Higher of £50 or 10% of Agreement fee for late documents |
Tax Planning & Advice | Separate engagement letter |
Periods to keep records:
Periods the law mandates you keep records:
These periods are correct as of August 2023. The latest up to date periods can be found at:
https://www.gov.uk/keeping-your-pay-tax-records/how-long-to-keep-your-records or any replacement website as published by the HMRC.