1. Agreement
1.0.1. You are appointing Accounting Wise Ltd (Company Reg No. 09365202) as your accountants, to represent you in all matters related to your selected services and your dealings with HMRC. This agreement is made between both parties. This agreement can only be amended or modified by written agreement signed by both parties.
1.0.2. These terms and conditions may change from time to time, you will be notified if there is a change.
2. Confidentiality
2.0.1. We take the confidentiality of our client’s information very seriously. All accounts, statements and reports prepared by us are for your exclusive use within your business or to meet specific statutory responsibilities. They will not be shown to any third party without your prior consent.
2.0.2. You may appoint someone else to speak to us on your behalf such as your spouse. However, we would require your consent in writing. Please contact us for further details.
2.0.3. For the purposes of the Data Protection Act 1998, the Data Controller in relation to personal data supplied about you is Ian Jipps.
3. Fees, Payments and Cancellation
3.0.1. This agreement will remain effective from the date we receive your completed registration form. Either party may vary or terminate our authority to act on your behalf at any time without penalty, unless cancellation is before your first month’s payment. In that instance, a £30 fee will become payable to cover our administration costs. Notice of termination must be given in writing or via email.
3.0.2. If an indemnity claim is made against direct debit payments that were due to be paid, then this amount will be payable to us immediately along with a £30 charge to cover the cost of the indemnity claim to us from our direct debit agency.
3.1.0. Bespoke or Pre Built Package.
Once registered for the service, we will issue monthly invoices for your current financial year. Direct debit payments will be collected on a monthly basis for the invoiced amounts. If you sign up for a monthly package part way through your financial year, your invoices may differ from the amounts you were quoted because the annual fees are being spread over fewer periods. For example, if you join us in July and your financial period is 1st January to 31st December, your annual fee will be spread over the remaining 6 months in that first year, followed by 12 equal instalments in the year thereafter. Alternatively, you may wish to settle the first 6 months’ fee in one go and pay the remaining annual fee over the next 6 months.
3.1.1. If you decide to terminate our service part way through your financial year, a 30-day cancellation period applies, after which no further monthly invoices will be raised. If you cancel part way through your financial year and would like us to complete that financial year’s work, then we would agree to either continue the monthly invoices until the end of the financial year or raise a final invoice up to the financial year-end. No monthly payments will be refunded to you at any time and cannot be transferred, regardless of whether you have used our services or not, or if your year-end procedure has been performed or not.
3.1.2. If you register with us and we find that there is outstanding work due for previous periods, then we will contact you straight away for your instruction on whether or not you would like us to give you a quotation for the work involved. A previous period is where a period end is before the current date. For example, if today’s date were 1st May 2017 and a self-assessment was due for period 6th April 2016 to 5th April 2017 then this would be a previous period.
3.1.3. From time to time, we may increase our fees to keep up with inflation or increasing costs. We will notify you of any fee increases at least 14 days in advance.
3.1.4. Your quotation is based on the information you have provided to us about you and your business. If your business circumstances change, then we may adjust our fees to align with these changes. For example, if your business received a quotation based on a turnover bracket and this increases or decreases, then the fees will be adjusted to suit. Similarly, if you engage us for payroll and add more employees than we have quoted you for then the fee will adjust with these changes. For a breakdown of how our fees are calculated, please request a pricing guide from us.
3.2.0. One-Off Service
Once registered for the service, we will issue our invoice for the One-Off Service. This will be payable based on our General Invoice Terms specified below. We will begin the service once payment has been made.
3.2.1. Your quotation is based on the information you have provided to us about you and your business. If your business circumstances change, then we may adjust our fees to align with these changes. For example, if your business received a quotation based on a turnover bracket and this increases or decreases, then the fees will be adjusted to suit. Similarly, if you engage us for payroll and add more employees than we have quoted you for then the fee will adjust with these changes. For a breakdown of how our fees are calculated, please request a pricing guide from us.
3.2.2. If you engage us for a One-Off Service, the provision of the service is deemed to have started once we have received your payment. If you decide to cancel a one-off service after the payment date, no fees will be refunded (in part or full) regardless of the reasons for the cancellation and whether or not the filings have been completed.
3.3.0 Expedite fee
3.3.1. The expedite fee is applied to accounts/tax returns that need to be filed urgently or where the information required to prepare the accounts/tax returns is sent to us with less than 4 weeks to the filing deadline.
3.3.2. The expedite fee must be paid before any work commences. Whenever possible we will aim to deliver the accounts/tax returns by the filing deadline, or the agreed timeframe if the deadline has already passed.
3.3.3. If the filing deadline is missed, we cannot offer refunds of the expedite fee or accept any responsibility for the resulting delays and/or fines & penalties that the business may incur.
4. General Invoicing
4.0.1. Our invoices payment terms for invoices are strictly 7 days net. Interest will be charged on all overdue debts at the rate stated on the invoice or, at the rate applicable under the Late Payment of Commercial Debts (Interest) Act 1998, whichever is the higher.
4.0.2. Should you have any disagreement concerning a fee, this must be notified to us within 7 days of the invoice date. In the absence of such notification, you are deemed to have accepted the invoice and it is payable in full accordance with our normal terms.
4.0.3. If the services you engage us for cover work for a limited company and the company is unable to meet our fees as and when they fall due, then the company’s directors will be personally, jointly and severally liable in respect of our outstanding fees.
5. Late Payments/defaults
5.0.1. For outstanding balances overdue by more than 90 days we reserve the right to charge interest at 8% above the base rate per annum until such a time we receive payment in full or receive correspondence from you to resolve the situation.
5.0.2. For sole traders and partnerships the responsibility for any outstanding balances owed to us is of the business owners. For limited companies it is the ultimate responsibility of the director that signed the registration form.
6. Authorisation
6.0.1. Once we have received your registration form we will request that an authorisation code is posted to you from HMRC. Please forward any codes received from HMRC to us as soon as possible to avoid any unnecessary delays with your work.
6.0.2. Once you are registered with us we will perform an identity check to conform with Anti-Money Laundering regulations. This check may involve a credit search, to which you agree to us performing. Please note: the search is a soft search and so does not affect your credit score in any way. We do not carry out this check to assess your credit worthiness.
7. Correspondence
7.0.1. We record all correspondence with clients, including telephone calls. Recordings of all calls are saved within our CRM system and only accessed in the unlikely event we should need to refer to them. You agree to us recording conversations for training and monitoring purposes.
8. Referral Fees: Partner Services and Commissions
8.0.1. From time to time, Accounting Wise may introduce you to third-party services that we believe may be of benefit to your business. These services are provided by trusted partners, and we may receive a commission or fee if you choose to engage with them. We have outlined below the nature and amounts of the commissions or fees we may receive. By accepting our Terms & Conditions you agree to allow us to keep any referral fees generated.
- Small Business Insurance products are underwritten by Kingsbridge. If you take out a policy via our referral we receive a commission of 10% of the premium, which averages at around £48.
- Banking Partners – We may introduce you to business banking services through our selected banking partners. Where you choose to open an account or use their services, we may receive a commission, typically expressed as a percentage of fees earned or a fixed referral amount. The fee may vary depending on the services selected but typically averages around £65.
- Other Partners – From time to time, we may work with additional providers (e.g. payment services, business tools, etc.). Where a commission, referral fee, or other financial arrangement exists, this will not affect the amount payable by you to the third-party provider unless expressly stated otherwise.
8.0.2. Partner services are provided under the terms and conditions of the relevant third-party provider.
8.0.3. Accounting Wise is not responsible for the performance, suitability, or accuracy of any third-party services.
8.0.4. Clients who choose to engage with partner services do so entirely at their own risk and are advised to read carefully and understand all contractual documentation issued by the third-party provider prior to entering into any agreement.
9. Offers and Discounts
9.0.1 Introductory offers apply only if you register for an accounting package. If you cancel your service within 12 months following the period the offer relates to, then the offer will not apply and the full price will become payable. For example if you are offered free incorporation of your company and were to cancel our services within 12 months then the full price of the free incorporation will become payable.
9.0.2. Introductory discounts will be applied to the current and future periods only, they do not apply to any fees for periods already passed that are being spread over the remaining months of the financial year.
9.0.3. Discounts on services do not apply to software subscriptions, the registered address service or the director’s service address fees.
10. Your Responsibility for the Preparation of Financial Statements
10.0.1. You have undertaken to make available to us, as and when required, all the accounting records and related financial information necessary for the compilation of your accounts. You agree to make full disclosure to us of all relevant information. The accounts will be approved by you before we submit any accounts or returns to HMRC or Companies House.
10.0.2. You are responsible for ensuring that, to the best of your knowledge and belief, financial information, whether used by the business or for the accounts, is reliable. You are also responsible for ensuring that the activities of the business are conducted honestly and that its assets are safeguarded, and for establishing arrangements designed to deter fraudulent or other dishonest conduct and to detect any that occur.
10.0.3. You are responsible for ensuring that the business complies with the laws and regulations applicable to its activities, and for establishing arrangements designed to prevent any non-compliance with laws and regulations and to detect any that occur.
10.0.4. If you used a professional before joining us as a client then it is important that you provide their contact details to us so that we can request vital information from them. If we cannot acquire the information we need to start work for you then we may charge you an additional fee for the time spent to piece together your previous financials.
11. Our Responsibilities for the Preparation of Financial Statements
11.0.1. We will compile your annual accounts based on the accounting records and the information and explanations given to us by you. We shall prepare accounts to be approved by you before any returns are submitted.
11.0.2. We will advise you as to the adequacy of your records for preparation of the annual accounts and make recommendations for improvements which we consider necessary. We shall not be responsible if, as a result of you not taking our advice, you incur losses or penalties.
11.0.3. We will act diligently to produce financial statements which accurately reflect the information supplied by you regarding your business affairs, but will not be responsible for errors arising from incorrect information supplied by you.
11.0.4. Any liability resulting from errors in the preparation of accounts, tax returns or any other work carried out is limited to the fee we charge for completing that work.
11.0.5. We have a professional duty to compile accounts which conform to generally accepted accounting principles.
11.0.6. If you require us to complete additional work which is outside of the services included in your chosen package then we would charge an additional fee appropriate to the work involved, and will be agreed by both parties prior to any work being undertaken.
11.0.7. If we have any records belonging to you after your year-end procedures have been completed then we will return them to you via recorded delivery. If we have retained any records on your instruction then they will be automatically destroyed after 7 years.
11.0.8. Accounting Wise has a legal obligation to adhere to all civil and criminal legislation currently in force.
11.0.9. We will provide our professional services with reasonable care and skill and will always make every effort to ensure you meet the relevant deadlines. However, we will not be responsible for any losses, penalties, surcharges, interest or additional tax liabilities due to HMRC, Companies House or any other organisation under any circumstances. We will however, take individual circumstances into consideration and may make a contribution to penalties at the discretion of the management.
12. VAT
12.0.1. Accounting Wise’s VAT registration number is 256595857.
13. Professional Indemnity Insurance.
13.0.1. Professional Indemnity Insurance for Accounting Wise is provided by Simply Business which is a trading name of Xbridge Limited (No: 3967717), has its registered office at 6th Floor, 99 Gresham Street, London EC2V 7NG.
14. Accounts/returns
14.0.1. We will be able to act on your behalf for all of your businesses accounting and taxation affairs from the date that we receive your registration form.
14.0.2. We will prepare the accounts and tax return based on the records and other information and explanations provided by you.
14.0.3. Your approval will be required before we submit any accounts or returns to Companies House or HMRC.
14.0.4. We will advise you as to the amounts of tax to be paid and the dates by which you should make the payments.
14.0.5. If after we complete your accounts/tax return you should request amendments to be made to the work already completed, then a quotation will be given to you for the additional work involved. We will deal with HMRC regarding any amendments required to your return and prepare any amended returns which may be required.
14.0.6. Any overpayment that arises will be paid into our client account from HMRC and transferred to your bank account the same working day through faster payment.
14.0.7. We will undertake all correspondence with HMRC on your behalf unless instructed otherwise by you.
14.0.8. It is important that you send your records to us in good time before any deadlines. We will send out frequent reminders from the date of your financial year end so that you know that we require your records.
14.0.9. HMRC investigate a proportion of the tax returns submitted each year. Businesses are selected either at random or because submitted figures look incorrect. As long as your service with us remains active we will represent you during an investigation at no additional charge.
14.0.10. You agree that we can approach such third parties as may be appropriate for information that we consider necessary to deal with your affairs.
14.0.11. If you have registered with us as a limited company, up to 2 director’s self-assessments are included within your fee. Self-assessment periods run from 6th April one year to 5th April the next. The first one to be included in your fee will be the self-assessment period that your first company’s financial year end falls in. For example, if your first company’s financial year with us is 1st July 2017 to 30th June 2018 the self-assessment(s) included will be for period 6th April 2018 to 5th April 2019.
14.0.12 If you have an accounting package with us for a Ltd company, sole trader business or partnership, your package covers the inclusion in your personal tax return of any income earned from your Ltd company, sole trader business or partnership. Any other income received outside of your business is not covered by the package and a fee of £30 + VAT per additional income stream will be payable in order for us to include the income in your personal tax return.
14.0.13. We are general accountants and small business tax specialists and we are able to cater for the vast majority of accounts/tax requirements a small business may have. Where we do not have the relevant skills/expertise we will always endeavour to consult with affiliates for assistance. However there are instances where a specialist is required. For example, if your business requires services such as EIS/SEIS form completion, R&D tax repayments or TOMS advice we may have to refer you to a specialist who can help. Such specialists may charge a fee for these services.
15. VAT Returns (if applicable)
15.0.1. We will be able to act on your behalf for all of your businesses VAT affairs from the date your registration form is received by us.
15.0.2. We will send the VAT return to you for your approval before it is submitted to HMRC.
15.0.3. We will advise you as to amounts of VAT to be paid (or repaid to you) and the dates by which you should make any payments.
15.0.4. We will undertake all correspondence with HMRC on your behalf unless instructed to do otherwise by you.
15.0.5. Please ensure 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 your business from its 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.
16. Payroll (if applicable)
16.0.1. To process your payroll we will require certain information from you. This includes:
16.0.2. Notification within two weeks of any employee who is ill for four or more calendar days, including weekends, bank holidays etc. This will enable us to operate statutory sick pay for you.
16.0.3. Notification of any employee who becomes pregnant. This will enable us to operate statutory maternity pay.
16.0.4. Details of any money or benefits made available to employees by you or by a third party through you.
16.0.5. Hours worked, rates of pay, bonuses etc.
16.0.6. Notification of employees engaged by you or leaving your employment.
16.0.7. Details of holiday pay paid to employees.
16.0.8. Any notice of coding received by you (although we should receive a copy)
16.0.9. If any casual labour is taken on, you are required to operate P46 procedures. Completed P46 forms should be supplied to us for processing. Please contact us if you would like us to explain this process.
16.1.0. RTI returns must be received by HMRC on the day that you pay employees so it is very important that we receive your payroll records on time.
16.1.1. It should be understood that our appointment as your agent does not absolve your business from its 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.
17. Bookkeeping (if applicable)
17.0.1. If you appoint us to complete bookkeeping on your behalf, we will input your business transactions into a system that best suits your business. We will require all business documentation needed to complete the bookkeeping including sales invoices, purchase invoices, expense receipts, bank statements, paying in/cheque books and credit card statements (if applicable).
17.0.2. We will keep your paperwork until your year-end procedures have been completed, unless otherwise instructed by you. Once we have finished with your records we will return them to you via recorded delivery.
17.0.3. If you complete your own bookkeeping then we would expect to receive records in a reconciled state (if a double entry system is appropriate). We will take samples to check that the bookkeeping has been completed properly. We will bring to your attention anything that does not seem correct and will await your instructions on how to proceed before continuing with your work. If you would like us to correct any bookkeeping errors we will produce a quotation for you to agree upon before any work is carried out.
17.0.4. If after we complete your bookkeeping, you request amendments to be made to the work already completed, then a quotation will be given to you for the additional work involved.
17.0.5. When we quote a price for bookkeeping, it is based upon your estimations of the amount of monthly business transactions you have. Sometimes we find that the amount of transactions is more or less than initially estimated. In this instance we would increase/reduce the monthly fee to reflect the true amount of transactions. We always give at least 10 days’ notice prior to any changes to the bookkeeping fee.
17.0.6. If bookkeeping involves currency conversions then we must charge an additional 25p per transaction to cover the extra time that this will take.
17.0.7. If you have special requests for your bookkeeping requirements or where there is a greater than average amount of complexity – we may quote an hourly rate rather than the standard transactional rate. If we receive bookkeeping records which are more complex than initially estimated we may recalculate the quotation. We will always ask for your agreement of the revised quotation before proceeding with the work.
17.0.8. If you are sending us paper records they must be presented to us in date order and in an orderly fashion overall. Where there is significant time required for us to organise your paper records we may quote an additional hourly rate for the additional work.
18. Contractors and IR35 (if applicable):
18.0.1. If some or all of your business relates to contracting then you should consider your risk to IR35. IR35 is legislation that aims to prevent contractors benefiting from tax advantages over that of an employee acting in a similar capacity. It is your responsibility to assess your risk to IR35 although we are happy to provide guidance and material that will help you decide whether you are likely to be inside or outside of the legislation.
19. Registered Office Address (if applicable)
Our registered address service covers the use of the following address:
167-169 Great Portland Street
5th Floor
London W1W 5PF
Once the Registered Address service has been activated, it is the responsibility of the director to change the address details with Companies House. If you would like us to change the address details for you, we can do this for a separate one-off fee.
Intended Use
Once you have ordered and paid for the service, the above address may be used as your company’s official address with Companies House & HMRC only. Official UK Government mail received that is addressed to the company will be uploaded to your portal and an email notification sent to your email address. Official mail includes mail received directly from Companies House, HM Revenue & Customs, HM Courts & Tribunals Service, and the Intellectual Property Office.
Any other non-official or business mail will be returned to the sender and will not be processed, we will however inform you where possible of the return address.
For clarity, any mail received from third parties of UK Governments, such as debt collectors for HMRC, is not accepted as this is considered business mail. Mail received from local governments such as (but not limited to) local councils, local police/authorities and Trading Standards is also considered business mail and will not be processed.
Please note that if you use the registered address on your website in line with requirements of the Companies Act 2006, this address must be clearly labelled as the Registered Office address, and must not be presented in a way that implies it is a general trading or contact address. The Registered Office address should ideally be included under a separate section such as “Company Information” or “Legal Information,” or clearly labelled if within another section like “About Us”. The Registered Address should not be listed under the “Contact Us” section on your website unless there is a clear statement that it is not for general correspondence or visits.
Payment & Renewal of Registered Office Address Service
The Registered Office address service is an annual service and must be paid in full before the service is activated. Payment is due upfront for a 1-year period and the service cannot be cancelled or refunded (fully or partially) in this period even if you cancel your engagement with us. We will reach out to you before the expiry of the service and confirm whether you wish to renew the service for another year. The payment for the renewal must be received before the expiry date of the current period, otherwise we cannot guarantee an uninterrupted service.
If the service is renewed after the expiry date of the active period, an additional late renewal fee of £15 + VAT will be charged.
Please note that non-payment or delayed payment for the Registered Office address service may result in your company’s address being changed to the Default Address by Companies House, which may lead to your company being dissolved. In such cases, we do not accept any liability for the actions that Companies House may take against your business.
Default Address – Companies House
If the Registered Office address service is suspended or expires without being renewed, it is the responsibility of you as the director to change the Registered Office address with Companies House, HMRC and any other relevant parties.
We do not accept any responsibility for your company’s address or any actions that Companies House may take once the Registered Office Address service with us has expired or been suspended, including but not limited to Companies House changing your company’s address to the Default Companies House address, or applying to strike your company off the register.
20. Director’s Office Address (if applicable)
Our Director’s Service address service covers the use of the following address:
167-169 Great Portland Street
5th Floor
London W1W 5PF
Once the Director’s Service Address service has been activated, it is the responsibility of the director to change the correspondence address with Companies House. If you would like us to change the address details for you, we can do this for a separate one-off fee.
Intended Use
When purchased with the Registered Office Address service, the above address may be used as the correspondence address for directors or Persons With Significant Control (PSC) on the Companies House register only. This address will be visible on the public register and is separate from your home address which Companies House hold but do not publish on their website.
Official UK Government mail received that is addressed to the director(s)/PSCs will be uploaded to your portal and an email notification sent to your email address. Official mail includes mail received directly from Companies House, HM Revenue & Customs, HM Courts & Tribunals Service, and the Intellectual Property Office.
Any other non-official or business mail will be returned to the sender and will not be processed, we will however inform you where possible of the return address.
Payment & Renewal of Director’s Service Address
The Director’s Service address is an annual service that can only be purchased in conjunction with the Registered Office Address service, and must be paid in full before the service is activated. Payment is due upfront for a 1-year period and the service cannot be cancelled or refunded (fully or partially) in this period even if you cancel your engagement with us. We will reach out to you before the expiry of the service and confirm whether you wish to renew the service for another year. The payment for the renewal must be received before the expiry date of the current period, otherwise we cannot guarantee an uninterrupted service.
If the service is renewed after the expiry date of the active period, an additional late renewal fee of £15 + VAT will be charged.
21. Fair Usage policy:
21.0.1. We reserve the right to increase our fees for clients who use our service ‘excessively’ to ensure that the business relationship remains profitable. This policy would mainly be enforced for clients who consume the time of our accountants with unnecessary requests, an ‘unreasonable’ amount of questions, or queries that are not related to accountancy or the services we offer. We are aware that new clients will require more help and advice when they first register with us or if they are new to business and we do take this into consideration.
21.0.2. If we consider a client to be in breach of this policy we will notify them in writing to give a choice of either an increased fee or a reduction in their demands on the time of our accountants.
21.0.3. The unlimited help and advice included within your chosen package relates to the services you have appointed us to complete. For specialist advice or advice relating to topics outside of your selected services, we would seek to charge a reasonable fee that would be relative to the work involved, and will be agreed upon by both parties prior to any work being undertaken.
22. Investment Activity
22.0.1. Accounting Wise Ltd is not involved in any investment activity and does not offer investment advice to clients.
23. Customer service
23.0.1. We are committed to providing a high standard of customer service. We welcome suggestions on how our service to you could be improved.
23.0.2. We hope that you will not have the need to complain but if you do, we will look into your complaint carefully and promptly and do all we can to explain the position to you and address your concerns
23.0.3. If you are not satisfied with the outcome of your complaint, you have the right to complain to the Association of Accounting Technicians (AAT). Please note that the AAT cannot assist with disputes about fees or breach of contract
24. Your personal data, privacy and security
24.0.1. Please take some time to carefully read through our Privacy Policy. This policy outlines what data we collect from you, what we do with your data and how we ensure it is secure.
24.0.2. By agreeing to these Terms and Conditions it is assumed that you have read and understood our Privacy Policy.
