SCHEDULE OF SERVICES

This schedule should be read in conjunction with the engagement letter and the standard terms and conditions.

PERSONAL TAX

NON-AUDIT ACCOUNTS ASSIGNMENT FOR AN INCORPORATED COMPANY

SOLE TRADER ACCOUNTS PREPARATION

CORPORATION TAX

PAYROLL SERVICES

VAT RETURNS

NON-AUDIT ACCOUNTS ASSIGNMENT FOR A LIMITED LIABILITY PARTNERSHIP (LLP)

INDEPENDENT EXAMINER’S REPORT FOR AN UNINCORPORATED CHARITY (RECEIPTS AND PAYMENTS BASIS FOR ACCOUNTS PREPARATION)

CAPITAL GAINS TAX

COMPANY SECRETARIAL

TRUST AND ESTATES

OVERSEAS ENTITIES REGISTRATION AND ANNUAL RETURNS

ANNUAL TAX ON ENVELOPED DWELLINGS (‘ATED’)

PERSONAL TAX

Recurring compliance work

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).

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. Where instructed by you we will advise on the interest and penalty 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.

Other than as regards to tax credits and universal credit (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. We will review PAYE notices of coding provided to us and advise accordingly.

Ad hoc and advisory work

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
  • advising on the rules relating to and assisting with VAT registration.

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

Tax credits

If we agree to advise you on tax credits and universal credit we will issue a separate letter or schedule to cover this area. Tax credits and universal credit 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 or public policy and practice

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 public policy and practice or your circumstances.

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

Your responsibilities

You are legally responsible for:

(a) ensuring that your self-assessment tax returns are correct and complete

(b) filing any returns by the due date

(c) making payment of tax on time.

Failure to do this may lead to penalties 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.

To enable us to carry out our work you agree:

(a) that all returns are to be made on the basis of full disclosure of all sources of income, charges, allowances and capital transactions

(b) 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

(c) to authorise us to approach such third parties as may be appropriate for information that we consider necessary to deal with your affairs

(d) 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 within six months of the tax year end. Where feasible, we may agree to complete your return within a shorter period but may charge an additional fee for so doing.

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.

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 has the authority to communicate with us once it has been notified that we are acting on your behalf as your agent, it is still essential that you let us have copies of any correspondence received because HMRC is not obliged to send us copies of all communications issued to you.

Limitation of liability

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

 

NON-AUDIT ACCOUNTS ASSIGNMENT FOR AN INCORPORATED COMPANY

This schedule should be read in conjunction with the engagement letter and the standard terms and conditions.

Our service to you

You have engaged us to prepare the accounts (financial statements) on your behalf for your approval based on the accounting records, the information and explanations that you give us and in accordance with FRS102 the accounting framework agreed and applicable to you.

We will not be carrying out any audit work as part of this assignment and accordingly will not verify the assets and liabilities of the company, nor the items of expenditure and income. To carry out an audit would entail additional work to comply with International Standards on Auditing so that we could report on the truth and fairness of the financial statements. We would also like to emphasise that we cannot undertake to discover any shortcomings in your systems or irregularities on the part of your employees.

If an audit of the accounts is required, you will need to notify us in writing. Should our work indicate that the company is not entitled to exemption from an audit of the accounts, we will inform you. If we decide to undertake an audit assignment at your request, a separate engagement letter will be required.

Once you have approved the accounts, we have no further direct responsibility in relation to the accounts for that financial year. However, we expect that you will inform us of any material event occurring between the date of our report and that of the annual general meeting that may affect the accounts.

Our responsibility to you

We have set out the agreed scope and objectives of your instructions within the letter of engagement. Any subsequent changes will be discussed with you and, where appropriate, a new letter of engagement will be agreed. We shall proceed on the basis of the instructions we have received from you and will rely on you to tell us as soon as possible if anything occurs which renders any information previously given to us as incorrect or inaccurate. We shall not be responsible for any failure to advise or comment on any matter that falls outside the specific scope of your instructions. We cannot accept any responsibility for any event, loss or situation unless it is one against which it is the expressed purpose of these instructions to provide protection.

Your responsibility to us

The advice that we give can only be as good as the information on which it is based. In so far as that information is provided by you, or by third parties with your permission, your responsibility arises as soon as possible if any circumstances or facts alter, as any alteration may have a significant impact on the advice given. If the circumstances change, therefore, or your needs alter, advise us of the alteration as soon as possible in writing.

Statutory responsibilities

As directors of the company, you are required by statute to prepare accounts for each financial year, which give a true and fair view of the state of affairs of the company and of its profit or loss for that period.

You must not approve the accounts 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.

In preparing those accounts you must:

  1. Select suitable accounting policies and then apply them consistently.
  2. Make judgements and estimates that are reasonable and prudent.
  3. Prepare the accounts on the going concern basis unless it is not appropriate to presume that the company will continue in business.

It is your responsibility to keep proper accounting records that disclose with reasonable accuracy at any particular time the financial position of the company. It is also your responsibility to safeguard the assets of the company and to take reasonable steps for the prevention of and detection of fraud and other irregularities with an appropriate system of internal controls.

You are responsible for determining whether, in respect of the year concerned, the company meets the conditions for exemption from an audit set out in section 477, 479A or 480 of the Companies Act 2006, and for determining whether, in respect of the year, the exemption is not available for any of the reasons set out in section 478 of the Companies Act 2006.

You are also responsible for making available to us, as and when required, all the company’s accounting records and all other relevant records and related information, including minutes of management and shareholders’ meetings.

You will also be responsible for:

  1. maintaining records of all receipts and payments of cash
  2. maintaining records of invoices issued and received.
  3. reconciling balances monthly with the bank statements
  4. preparing details of the following at the year-end: stocks and work in progress; fixed assets; amounts owing to supplier; amounts owing by customers; and accruals and prepayments.

Our work will not be an audit of the accounts in accordance with International Standards on Auditing.  Accordingly, we shall not seek any independent evidence to support the entries in the accounting records, or to prove the existence, ownership or valuation of assets or completeness of income, liabilities or disclosure in the accounts. Nor shall we assess the reasonableness of any estimates or judgements made in the preparation of the accounts. Consequently, our work will not provide any assurance that the accounting records are free from material misstatement, irregularities or error.

As part of our normal procedures we may request you to provide written confirmation of any oral information and explanations given to us during the course of our work.

We have a professional duty to compile accounts that conform with generally accepted accounting principles. The accounts of a limited company are required to comply with the disclosure requirements of the Companies Act 2006 and applicable accounting standards. Where we identify that the accounts do not conform to accepted accounting principles or standards, we will inform you and suggest amendments be put through the accounts before being published. We have a professional responsibility not to allow our name to be associated with accounts that may be misleading. In extreme cases, where this matter cannot be resolved, we will withdraw from the engagement and notify you in writing of the reasons.

Should you instruct us to carry out any alternative report, it will be necessary for us to issue a separate letter of engagement.

Limitation of liability

Our services as detailed 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.

 

SOLE TRADER ACCOUNTS PREPARATION

SCHEDULE OF SERVICES

This schedule should be read in conjunction with the engagement letter and the standard terms and conditions

Our service to you

We will prepare your business accounts in accordance with generally accepted accounting practice from your books and records, and from information and explanations provided by you.

We will not be carrying out any audit work as part of this assignment and accordingly will not verify the assets and liabilities of the business, nor the items of expenditure and income. To carry out an audit would entail additional work so that we could report on the truth and fairness of the accounts. We would also like to emphasise that we cannot undertake to discover any shortcomings in your systems or irregularities on the part of your employees.

We have a professional duty to compile accounts that conform with generally accepted accounting principles. Where we identify that the accounts do not conform to accepted accounting principles, nor to the specific rules relating to the cash accounting regime, we will inform you and suggest amendments be put through the accounts before being published. We have a professional responsibility not to allow our name to be associated with accounts that may be misleading. In extreme cases, where this matter cannot be resolved, we will withdraw from the engagement and notify you in writing.

Our responsibility to you

We have set out the agreed scope and objectives of your instructions within this letter of engagement. Any subsequent changes will be discussed with you and, where appropriate, a new letter of engagement will be agreed. We shall proceed on the basis of the instructions we have received from you and will rely on you to tell us as soon as possible if anything occurs which renders any information previously given to us as incorrect or inaccurate. We shall not be responsible for any failure to advise or comment on any matter that falls outside the specific scope of your instructions. We cannot accept any responsibility for any event, loss or situation unless it is one against which it is the expressed purpose of these instructions to provide protection.

Your responsibility to us

The advice that we give can only be as good as the information on which it is based. In so far as that information is provided by you, or by third parties with your permission, your responsibility arises as soon as possible if any circumstances or facts alter, as any alteration may have a significant impact on the advice given. If the circumstances change, therefore, or your needs alter, advise us of the alteration as soon as possible in writing.

Responsibilities

Our function as accountant is to act as agent on your behalf in preparing the accounts of your business.. This may involve:

Writing up your books and records from the information and vouchers provided and preparing draft accounts for your approval.

We have agreed that you will be responsible for:

  1. maintaining records of all receipts and payments of cash
  2. maintaining records of invoices issued and received
  3. reconciling balances monthly with the bank statements
  4. preparing a record of business mileage undertaken in the year
  5. preparing a record of hours per month worked at home if you wish to claim for business use of your home
  6. preparing details of any loan interest paid
  7. preparing details of the following at the year-end: stocks and work in progress; fixed assets; amounts owing to creditors; amounts owing by customers; and accruals and prepayments.

Our report will be based on information gained from you, and we accept no responsibility for any losses arising out of implementing our report. Further, our report requires us to rely substantially on your representations. Therefore, we can accept no responsibility for any losses for issues not addressed in our report.

As part of our normal procedures, we may request you to provide written confirmation of any oral information and explanations given to us during the course of our work.

Limitation of liability

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

 

CORPORATION TAX

Recurring compliance work

For the purpose of the delivery of the company’s tax return, we will use commercial software to apply XBRL tags to items in the accounts as we consider appropriate for the purposes of submission, for tax purposes, of the accounts in iXBRL via the Government Gateway.

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.

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

We will prepare the company’s corporate tax self-assessment (CTSA) return. After obtaining the approval and signature of the nominated director, we will submit it to HM Revenue & Customs (HMRC).

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.

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. Where instructed by you, we will advise on the interest and penalty implications if corporation tax is paid late.

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 that should be made on the basis of information supplied by you by the date agreed.

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

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 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 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
  • advising you on and preparing enhanced expenditure claims and reliefs, including those relating to research and development
  • advising you on and preparing detailed capital allowance claims relating to buildings and renovation, including the analysis of expenditure
  • dealing with any enquiry opened into the company’s tax return by HMRC
  • preparing any amended returns that may be required and corresponding with HMRC as necessary.

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

Changes in the law or public policy and practice

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 public policy and practice or your circumstances.

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

Your responsibilities

You are legally responsible for:

(a) ensuring that the CTSA return (including XBRL tags and iXBRL file) is correct and complete

(b) filing any returns by the due date

(c) making payment of tax on time.

Failure to do this may lead to penalties 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 approving and signing them.

To enable us to carry out our work, you agree:

(a) to provide us with approved accounts for the company

(b) that all returns are to be made on the basis of full disclosure of all sources of income, charges, allowances and capital transactions

(c) 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

(d) 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

(e) to provide us with information in sufficient time for the company’s CTSA 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 within six months of the tax year end. Where feasible, we may agree to complete your return within a shorter period but may charge an additional fee for doing so.  

(f) 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

(g) 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.

You 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.
 

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 has 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 is not obliged to send us copies of all communications issued to you.
 

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.

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 turnover exceeds the VAT registration threshold, and you wish us to assist in notifying HMRC of the company’s obligation 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.

 Limitation of liability

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

 

PAYROLL SERVICES

Recurring compliance work  

We will prepare your UK payroll for each payroll period to meet UK employment tax requirements, specifically:

  • calculating the pay as you earn (PAYE) deductions
  • calculating the employees’ national insurance contributions (NIC) deductions
  • calculating the employer’s NIC liabilities
  • calculating statutory payments, for example, statutory sick pay and/or statutory maternity pay
  • calculating pension contributions for employees who are members of workplace pension schemes (including those who are auto-enrolled)
  • calculating the employer’s pension contributions for the employees’ workplace pension schemes
  • calculating other statutory and non-statutory deductions
  • submitting information online to HMRC under RTI for PAYE.
  • We will prepare and send to you the following documents before the time of payment through the payroll or due date for delivering information to HMRC:
  • payroll summary report showing the reconciliation from gross to net for each employee and all relevant payroll totals
  • Full Payment Submission (FPS) for taxable pay and payrolled benefits for each employee
  • a payslip for each employee unless not required
  • a P45 for each leaver
  • a report showing your PAYE and NIC liability and due date for payment
  • a report showing pension contributions payable in respect of each employee to the respective workplace pension scheme(s) of which they are members and the due date(s) for payment.

We will submit FPSs online to HMRC on the basis of the data provided by you. (FPSs must reach HMRC normally on or before the payday.) You must ensure that the data provided to us is complete and accurate, and your attention is drawn to your legal responsibilities as set out at paragraphs 13 and 14 below.

For each tax month we will prepare, where appropriate, an Employer Payment Summary (EPS) from the information and explanations that you provide to us. Examples include statutory payments, employment allowance, Construction Industry Scheme deductions and confirmation that no payments were made to employees.

We will submit EPSs to HMRC on the basis of the data provided by you. (EPSs must reach HMRC by the 19th of the month following the tax month to which they relate). You must ensure that the data provided to us is complete and accurate, and your attention is drawn to your legal responsibilities as set out at paragraphs 13 and 14 below.

At the end of the payroll year we will:

  • Prepare the final FPS (or EPS), including employer annual declarations, and submit this to HMRC on the basis of the data provided by you. (The final FPS (or EPS) for the year must reach HMRC by 19 April following the end of the tax year.) You must ensure that the data provided to us is complete and accurate, and your attention is drawn to your legal responsibilities as set out at paragraphs 13 and 14 below.
  • Prepare and send to you by the statutory due date form P60 for each employee on the payroll at the year end.

We will deal with any online secure messages sent to us by HMRC in respect of your payroll.

We will submit national insurance number (NINO) verification requests as appropriate to verify or obtain a NINO for a new employee.

Ad hoc and advisory work

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:

  • dealing with any compliance check or enquiry by HMRC into the payroll returns
  • preparing any amended returns for periods before you report in real time, which may be required, and corresponding with HMRC as necessary
  • preparing and submitting correcting EPSs for earlier years
  • preparing and submitting an Earlier Year Update (EYU) to correct, after 19 April, any of the year-to-date totals submitted in your end-of-year FPS for a previous tax year, in respect of years after you started to send information in real time.

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

Changes in the law or public policy and practice

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 public policy and practice or your circumstances.

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

Your responsibilities

You are legally responsible for:  

(a) ensuring that the data in your payroll submissions is correct and complete  

(b) making any submissions by the due date  

(c) Making payment of tax and NIC on time.  

Failure to do this may lead to penalties and/or interest.

Employers cannot delegate this legal responsibility to others.

To enable us to carry out our work you agree:

(a) that all information required to be delivered online is submitted on the basis of full disclosure

(b) to provide full information necessary for dealing with your payroll affairs and workplace pension scheme contributions; we will rely on the information and documents being true, correct and complete, and will not audit the information or those documents

(c) to advise us in writing of changes of payroll pay dates and workplace pension scheme contribution dates

(d) to notify us at least 5 working days prior to the payroll pay date of all transactions or events that may need to be reflected in the payroll for the period, including details of

  • all new employees (including full names, address, date of birth, gender, national insurance number) and details of their remuneration packages
  • all leavers and any termination payments
  • all changes to remuneration packages
  • all pension scheme changes
  • any changes to the employees’ bank accounts
  • irregular and/or ad hoc payments and the dates to be paid

(e) to provide the data required to complete:

  • in-year FPS by at least 5 working days prior to payroll pay dates so that they can be submitted on or before payday, or as agreed with us
  • in-year EPS by at least 5 days prior to 19th of the month following the tax month
  • final FPS (or EPS when applicable) for the year at least 5 days prior to 19 April following the end of the tax year
  • EYU within 5 days

(f) to authorise us to approach such third parties as may be appropriate for information that we consider necessary to deal with your affairs.

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

If the information required to complete the payroll services set out above is received later than the dates specified above or agreed with us, we will still endeavour to process the payroll and returns to meet the agreed payroll date and filing deadlines but we will not be liable for any costs or other losses arising if the payroll is late or the returns are filed late in these circumstances. We may charge an additional fee for work carried out in a shorter time period.

Limitation of liability

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

VAT RETURNS

Recurring compliance work

We will prepare your annual VAT returns on the basis of the information and explanations supplied by you.

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.

Where appropriate, we will calculate the partial exemption annual adjustment.

We will forward to you the completed return calculations for you to review, before you approve the VAT return for onward transmission by us to HMRC.

Ad hoc and advisory services

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 on a suitable partial exemption method to use in preparing the return.
  • dealing with all communications relating to your VAT 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.
  • providing you with advice on VAT 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 to you.

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 or public policy and practice

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 public policy and practice or your circumstances.

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

Your responsibilities

You are legally responsible for:

(a) ensuring that your returns are correct and complete

(b) filing any returns by the due date

(c) 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 approving and/or signing them.

To enable us to carry out our work you agree:

(a) that all returns are to be made on the basis of full disclosure

(b) that you are responsible for ensuring that the information provided is, to the best of your knowledge, accurate and complete. The returns are prepared solely on the basis of the information provided by you and we accept no responsibility for any 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  

(c) that we can approach such third parties as may be appropriate for information we consider necessary to deal with the returns

(d) to provide us with all the records relevant to the preparation of your annual returns as soon as possible after the return period ends. We would ordinarily need a minimum of 10 days before submission to complete our work. If the records are provided later or are incomplete or unclear, thereby delaying the preparation and submission of the 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 for so doing.

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

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 has 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 is not obliged to send us copies of all communications issued to you.

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

Limitation of liability

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

NON-AUDIT ACCOUNTS ASSIGNMENT FOR A LIMITED LIABILITY PARTNERSHIP (LLP)

This schedule must be read in conjunction with the engagement letter and the standard terms and conditions.

Our service to you

You have engaged us to prepare the accounts (financial statements) on your behalf for your approval based on the accounting records, the information and explanations that you give us and in accordance with [FRS 102/FRS102 Section 1A/the accounting framework agreed and applicable to you].

[You have engaged us to prepare abridged accounts under The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 as amended by The Limited Liability Partnerships, Partnerships and Groups (Accounts and Audit) Regulations 2016. By instructing us, you confirm that you have obtained the necessary consents from all members and for delivering the required statement to the registrar.]

You have engaged us to prepare a non-statutory report as detailed below that will be attached to the accounts.

We will not be carrying out any audit work as part of this assignment and accordingly will not verify the assets and liabilities of the LLP, nor the items of expenditure and income. To carry out an audit would entail additional work to comply with International Standards on Auditing so that we could report on the truth and fairness of the financial statements. We would also like to emphasise that we cannot undertake to discover any shortcomings in your systems or irregularities on the part of your employees.

If an audit of the accounts is required, you will need to notify us in writing. Should our work indicate that the LLP is not entitled to exemption from an audit of the accounts, we will inform you. If we decide to undertake an audit assignment at your request, a separate engagement letter will be required.

To ensure that anyone reading the accounts is aware that we have not carried out an audit, we will attach to the accounts a report stating this fact.

We will attach to the accounts a report developed by the Consultative Committee of Accountancy Bodies (CCAB), which explains what work has been done by us, the professional requirements we fulfil and the standard to which the work has been carried out. You can obtain further information from the Association of Chartered Certified Accountants about:

  1. the technical guidance for the work
  2. the related ethical and other professional requirements.

To ensure that anyone reading the accounts is aware that we have not carried out an audit, we will attach to the accounts a report stating this fact.

The intended users of the report are the members. The report will be addressed to the members.

Once we have issued our report, we have no further direct responsibility in relation to the accounts for that financial year. However, we expect that you will inform us of any material event occurring between the date of our report and that of the annual general meeting that may affect the accounts.

Our responsibility to you

We have set out the agreed scope and objectives of your instructions within this letter of engagement. Any subsequent changes will be discussed with you and, where appropriate, a new letter of engagement will be agreed. We shall proceed on the basis of the instructions we have received from you and will rely on you to tell us as soon as possible if anything occurs that renders any information previously given to us as incorrect or inaccurate. We shall not be responsible for any failure to advise or comment on any matter that falls outside the specific scope of your instructions. We cannot accept any responsibility for any event, loss or situation unless it is one against which it is the expressed purpose of these instructions to provide protection.

Your responsibility to us

The advice that we give can only be as good as the information on which it is based. In so far as that information is provided by you, or by third parties with your permission, your responsibility arises as soon as possible if any circumstances or facts alter, as any alteration may have a significant impact on the advice given. If the circumstances change, therefore, or your needs alter, advise us of the alteration as soon as possible in writing.

Statutory responsibilities

As members, you are required by statute to prepare accounts (financial statements) for each financial year, which give a true and fair view of the state of affairs of the LLP and of its profit or loss for that period.

You must not approve the accounts unless you are satisfied that they give a true and fair view of the assets, liabilities, financial position and profit or loss of the LLP.

In preparing those accounts you must:

  1. select suitable accounting policies and then apply them consistently
  2. make judgements and estimates that are reasonable and prudent
  3. prepare the accounts on the going concern basis unless it is inappropriate to presume that the LLP will continue in business.

You have engaged us to prepare the accounts on your behalf.

It is your responsibility to keep proper accounting records that disclose with reasonable accuracy at any particular time the financial position of the LLP. It is also your responsibility to safeguard the assets of the LLP, and to take reasonable steps for the prevention of and detection of fraud and other irregularities with an appropriate system of internal controls.

You are responsible for determining whether, in respect of the year concerned, the LLP meets the conditions for exemption from an audit set out in section 477, 479A or 480 of the Companies Act 2006, and for determining whether, in respect of the year, the exemption is not available for any of the reasons set out in section 478 of the Companies Act 2006.

You are also responsible for making available to us, as and when required, all the LLP’s accounting records and all other relevant records and related information, including minutes of members’ meetings.

You will also be responsible for:

  1. maintaining records of all receipts and payments of cash
  2. maintaining records of invoices issued and received
  3. reconciling balances [monthly/annually] with the bank statements
  4. preparing details of the following at the year end: stocks and work in progress; fixed assets; amounts owing to suppliers; amounts owing by customers; and accruals and prepayments
  5. preparing a record of capital introduced by the partners
  6. advising us via the nominated partner of any changes to the profit-sharing arrangements of the partnership.

Our work will not be an audit of the accounts in accordance with International Standards on Auditing. Accordingly, we shall not seek any independent evidence to support the entries in the accounting records, or to prove the existence, ownership or valuation of assets or completeness of income, liabilities or disclosure in the accounts. Nor shall we assess the reasonableness of any estimates or judgements made in the preparation of the accounts. Consequently, our work will not provide any assurance that the accounting records are free from material misstatement, irregularities or error.

As part of our normal procedures we may request you to provide written confirmation of any oral information and explanations given to us during the course of our work.

We have a professional duty to compile accounts that conform with generally accepted accounting principles. The accounts of an LLP are required to comply with the disclosure requirements of the Limited Liability Partnership Act 2000, Limited Liability Partnership Regulations, FRS 102, Statement of Recommended Practice and Companies Act 2006. Where we identify that the accounts do not conform to accepted accounting principles or standards, we will inform you and suggest amendments be put through the accounts before being published. We have a professional responsibility not to allow our name to be associated with accounts that may be misleading. In extreme cases, where this matter cannot be resolved, we will withdraw from the engagement and notify you in writing of the reasons.

Should you instruct us to carry out any alternative report, it will be necessary for us to issue a separate letter of engagement.

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

There are no third parties that we have agreed should be entitled to rely on the work done pursuant to this engagement letter.

INDEPENDENT EXAMINER’S REPORT FOR AN UNINCORPORATED CHARITY (RECEIPTS AND PAYMENTS BASIS FOR ACCOUNTS PREPARATION)

This schedule must be read in conjunction with the engagement letter and the standard terms and conditions.

Our service to you

My examination will be carried out in accordance with the directions and guidance produced by the Charity Commission/Office of the Scottish Charity Regulator/The Charity Commission for Northern Ireland /other regulator as appropriate.

My examination will involve comparing the accounts with the accounting records and making limited enquiries of the charity’s officers. In certain circumstances I shall look for independent evidence to support entries in the accounting records or in the presentation of the accounts.

The responsibility for safeguarding the assets of the charity and for the prevention and detection of fraud, error and non-compliance with law or regulations rests with the trustees. My examination should not be relied on to disclose all such material misstatements or fraud, errors or instances of non-compliance as may exist.

As part of my normal procedures, I may request you to provide formal representations concerning certain information and explanations I have received from you during the course of my examination.

In order to assist me with my examination of your accounts, I will request sight of any documents or statements that will be issued with the accounts. This will include the trustees’ report. I am also entitled to attend all general meetings of the charity, and to receive notice of all such meetings.

It is not the purpose of my examination to identify all significant weaknesses in the charity’s systems, but if any such weaknesses come to my attention, I shall report them to you. If this situation occurs, the report should not be provided to any third party without my consent.

Once I have issued my report, I have no further direct responsibility in relation to the accounts for that financial year. However, I expect that you will inform me of any material event occurring between the date of my report and that of the annual general meeting that may affect the accounts.

Our responsibility to you

I have set out the agreed scope and objectives of your instructions within this engagement letter. Any subsequent changes will be discussed with you and, where appropriate, a new letter of engagement will be agreed. I shall proceed on the basis of the instructions I have received from you and will rely on you to tell me as soon as possible if anything occurs that renders any information previously given to me as incorrect or inaccurate. I shall not be responsible for any failure to advise or comment on any matter that falls outside the specific scope of your instructions. I cannot accept any responsibility for any event, loss or situation unless it is one against which it is the expressed purpose of these instructions to provide protection.

Your responsibility to us

The advice that I give can only be as good as the information on which it is based. In so far as that information is provided by you, or by third parties with your permission, your responsibility arises as soon as possible if any circumstances or facts alter, as any alteration may have a significant impact on the advice given. If the circumstances change, therefore, or your needs alter, advise me of the alteration as soon as possible in writing.

Statutory responsibilities

As trustees of the above charity, you are required by statute to prepare receipts and payments accounts for each financial year, which present the receipts and payments of the charity for the period and its assets and liabilities at the end of the period, together with a trustees’ annual report in accordance with the section 133 of the Charities Act 2011/ section 44 of the Charities and Trustee Investment (Scotland) Act 2005/ section 64 of the Charities Act (Northern Ireland) 2008 as appropriate, as amended and regulations thereunder. In preparing those accounts you must:

  1. select suitable accounting policies and then apply them consistently
  2. make judgements and estimates that are reasonable and prudent
  3. prepare the accounts on the going concern basis unless it is not appropriate to presume that the charity will continue in operation.

As trustees of the charity, you are responsible for maintaining proper accounting records and an appropriate system of internal control for the charity. You are also responsible for preparing the annual report and financial statements, which give a true and fair view and have been prepared in accordance with applicable accounting standards and the Companies Act 2006 and regulations thereunder. It is also your responsibility to safeguard the assets of the charity, and hence to take reasonable steps for the prevention of and detection of fraud and other irregularities with an appropriate system of internal controls.

You are also responsible for making available to me, as and when required, all the charity’s accounting records and all other relevant records and related information, including minutes of all trustees’ meetings along with access to all staff.

In accordance with section 133 of the Charities Act 2011/section 44 of the Charities and Trustee Investment (Scotland) Act 2005/section 64 of the Charities Act (Northern Ireland) 2008 as appropriate, where the charity’s income in any financial year does not exceed £250,000, and if permitted by the charity’s governing document, the charity’s trustees may elect to prepare a receipts and payments account(s), a statement of assets and liabilities and trustees’ report as its annual statement of accounts. You have elected to prepare such an account and statement.

The intended users of the report are the trustees. The report will be addressed to the trustees.

My legal and professional duty is to state in my report whether any matters have come to my attention, which, in my opinion, attention should be drawn to in order to enable a proper understanding of the accounts to be reached, and to report whether or not any matter has come to my attention in connection with the examination which gives me reasonable cause to believe:

  1. Proper accounting records have not been kept by the charity in accordance with section 130 of the Charities Act 2011 or section 44 of the Charities and Trustee Investment (Scotland) Act 2005 or section 63 of the Charities Act (Northern Ireland) 2008 as appropriate.
  2. The accounts and statement are not in agreement with the accounting records.
  3. [That my examination of the trust’s accounts was carried out under section 145 of the 2011 Act and, in carrying out my examination, I have followed the applicable directions given by the Charity Commission under section 145(5)(b) of the act.]

We have a statutory duty to report to the appropriate Charity Commission/Office of the Scottish Charity Regulator/The Charity Commission for Northern Ireland such matters (concerning the activities or affairs of the charity or any connected institution or body corporate) of which we become aware during the course of our examination which are (or are likely to be) of material significance to the regulator in the exercise of their powers of inquiry into, or acting for the protection of, charities.

There are certain other matters that, according to the circumstances, may need to be dealt with in my report: for example, material breaches of trust or information not provided to me.

Under directions issued by the appropriate Charity Commission/Office of the Scottish Charity Regulator/The Charity Commission for Northern Ireland/other regulator, I am obliged to report to it any matters that I become aware of during the course of my examination, which give me reasonable cause to believe that one or more of the trustees has been responsible for deliberate or reckless misconduct in the charity’s administration.

Should you instruct me to carry out an alternative report then it will be necessary for me to issue a separate letter of engagement.

If, as a result of the work I perform, I arrive at the conclusion that the charity is not entitled to exemption from an audit of the accounts, or if I am unable to reach a conclusion on this matter, I will not issue any report. I will provide you with written notification of the reasons for this.

I am also required to report any of the following matters that have become apparent during the course of the independent examination:

  1. whether there has been any material expenditure or action that appears not to be in accordance with the trusts of the charity
  2. whether any information or explanation to which we are entitled has not been afforded to us
  3. whether any information in the trustees’ statutory annual report is inconsistent in any material respect with that in the financial statements.

As trustees of a charity, you are under a duty to prepare an annual report for each financial year complying in its form and content with the appropriate Charities Act 2011/the Charities and Trustee Investment (Scotland) Act 2005/Charities Act (Northern Ireland) 2008. You should also have regard to Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities  issued by the Charity Commission and the Office of the Scottish Charity Regulator in their role as the joint SORP-making body, recognised by the Financial Reporting Council.

As trustees, you are required to report as to whether you have given consideration to the major risks to which the charity is exposed, and to the systems designed to mitigate these risks. Compliance with the SORP requires you to confirm that these risks have been reviewed and that systems have been established to mitigate those risks. I am not required to audit this statement, or to form an opinion on the effectiveness of the risk management and control procedures.

Limitation of liability

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

 

CAPITAL GAINS TAX 

This schedule should be read in conjunction with the engagement letter and the standard terms and conditions.

We will prepare your capital gains tax calculation based on the information supplied to us.

We will calculate your capital gains tax payable and tell you how much to pay and when to pay it by.

Ad hoc queries by way of telephone and email enquiries are not routine compliance and may result in additional fees. As indicated below, where appropriate we will aim to discuss and agree additional fees but it may not always be possible to agree these in advance and we reserve the right to charge you an additional fee for these queries.

Ad hoc and advisory work

Where the nominated director has instructed us to do so we will provide such other taxation ad hoc and advisory services as may be agreed between us from time to time. These services will be subject to the terms of this engagement letter and standard terms and conditions of business unless we decide to issue a separate engagement letter. An additional fee may be charged for these services. 

Where specialist advice is required on occasion, we may need to seek this from or refer you to appropriate specialists. We will only do this when instructed by you.

Changes in the law or public policy and practice

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 public policy and practice or your circumstances.

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

Your responsibilities

You are legally responsible for:

  1. ensuring that your capital gains tax returns are correct and complete
  2. filing any returns by the due date
  3. paying tax on time.

Failure to do this may lead to penalties and/or interest.

Taxpayers who approve their returns cannot delegate this legal responsibility to others. You agree to check that returns we have prepared for you are complete before you approve them.

To enable us to carry out our work, you agree:

  1. that the capital gains tax return is drafted based on full disclosure of all relevant sources of information
  2. to provide full information necessary for dealing with the capital gains tax; 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 the capital gains tax return
  4. to provide us with information in sufficient time for the capital gain tax calculation and return to be filed on time

You will keep us informed of material changes in 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.

Where you wish us to deal with HMRC communications you will forward to us all communications received from HMRC such as HMRC statements of account, copies of notices of assessment and letters. These must be provided in time to enable us to deal with them as may be necessary within the statutory time limits. It is essential that you let us have copies of any correspondence received because HMRC is not obliged to send us copies of all communications issued to you.

Limitation of liability

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

COMPANY SECRETARIAL

This schedule should be read in conjunction with the engagement letter, other services schedules and our standard terms and conditions.  The schedule sets out the basis on which we have agreed to act as your agent in relation to Company Secretarial matters.

Company secretarial

We have agreed to undertake the following on your behalf:

Complete and submit the company’s annual confirmation statement to Companies House. You authorise us to submit this electronically using your company’s unique authentication code. 

File the company’s financial statements to Companies House. 

Complete and submit any other forms 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 10 days of the change or event.

Call Meetings and issue Minutes as required.

Prepare and issue dividend vouchers to shareholders.  

We will also act as the Company’s Registered Office if you choose this service and submit or file an electronic notification of the location of the registered office to Companies House. 

All post that is sent to the Registered Office will be forwarded on to the Directors on a prompt and regular basis.

Your responsibilities

You are legally responsible for: 

Ensuring that details of changes or events that are required by law to be filed at Companies House: it is essential that we as your agent are supplied with all relevant information;  

Filing any forms and returns in a timely manner; 

Maintaining and updating the company’s registers and the register of Persons of Significant Control (PSC)

Penalties and fines to the late filing of information to Companies House can be levied.

To enable us to carry out our work you agree:

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;

to provide us with information in sufficient time for the relevant forms to be completed and submitted to Companies House. 

You will keep us informed of changes and events in your company’s statutory information, including changes in directors, shareholders etc. that require notification to Companies House. If you are unsure whether the change needs to be notified to Companies House, please let us know so we can advise you. 

Data protection

We are committed to ensuring the protection of the privacy and security of any personal data  which we process. Your attention is drawn to paragraph 21 of our standard terms and conditions of business which details how we treat personal data received by us in the  provision of our services during our engagement with you.

Limitation of liability

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

Trusts and estates

Recurring compliance work

We will prepare:

(a)  the trust/estate self-assessment tax returns together with any supplementary pages required; and

(b)  all inheritance tax returns if required.

from the information and explanations that you provide to us. After obtaining approval from the nominated trustee or other nominated person on behalf of all the trustees, we will submit your returns to HMRC. 

We will maintain the accounting records of the trust/estate on your behalf from the information and explanations provided to us on your behalf for the purposes of preparing the annual accounts and tax returns.

We will prepare the income and expenditure and capital accounts (together with a balance sheet) of the trust/estate from the accounting records and other information and explanations provided by you, and will obtain your approval of the accounts.

We will not be carrying out any audit work as part of this assignment, and accordingly will not verify the assets and liabilities of the trust, nor the items of income and expenditure. To carry out an audit would entail additional work to comply with International Standards on Auditing so that we could report on the truth and fairness of the financial statements. We would also like to emphasise that we cannot undertake to discover any shortcomings in your systems or irregularities on the part of your employees.

We will calculate the income tax, capital gains tax (as included on your self-assessment return) and inheritance tax liabilities of the trust/estate and will advise you how much you should pay and when. Where instructed by you we will advise you on the interest and penalty implications if tax is paid late. We will also check HMRC’s calculation of the tax liabilities and initiate repayment claims if tax has been overpaid.

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.

Where the terms of the trust/will require income or capital payments to be made to the beneficiaries, we will assist you in preparing all necessary forms relating to such payment.

Under anti-money laundering legislation the trustees have obligations to maintain accurate and up-to-date records in writing of their beneficial owners and report specified information about the trust to HMRC.

We will advise the trustees whether or not the trust is obliged to register details of its beneficial owners and associated information and deal with any updates required. Provided that information is supplied by the date agreed we will register the trust within the time limits required.  Any changes to trust details should be notified as soon as you are aware of them.

Ad hoc queries by way of telephone and email enquiries are not routine compliance and may result in additional fees. As indicated below, where appropriate we will aim to discuss and agree additional fees, but it may not always be possible to agree these in advance and we reserve the right to charge you an additional fee for these queries.

Ad hoc and advisory work

Where you have instructed us to do so we will provide such other taxation ad hoc and advisory services as may be agreed between us from time to time. These services will be subject to the terms of this engagement letter and standard terms and conditions of business unless we decide to issue a separate engagement letter. An additional fee may be charged for these services.  Examples of such work include:

  • advising on the in-year Capital Gains Tax (CGT) reporting requirements on disposals of property, and preparing the in-year return and calculating the CGT due where required [note this work will always result in additional fees]. We will require you to provide information as early as possible in advance of exchange of contracts in order to provide advice on the tax implications, reporting requirements and to quantify the tax bill;
  • advising on ad hoc transactions and queries (including telephone conversations), preparing and submitting information in the relevant format to HMRC and calculating any related tax liabilities (for example, the sale of assets held by the trust/estate or pre-sale advice on the sale of assets);
  • advising on double tax relief if appropriate;
  • dealing with any enquiry opened into a trust/estate self-assessment tax return or tax affairs by HMRC; and
  • dealing with any enquiries and/or assessments raised by HMRC in relation to inheritance tax.

Where specialist advice is required, on occasions we may need to seek this from or refer you to appropriate specialists. We will only do this when instructed by the nominated trustee.

Changes in the law or practice or in public policy

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 practice or in public policy or your circumstances.

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

Your responsibilities

As trustees/executors you have legal responsibility for:

(a)  ensuring that the trust’s/estate’s self-assessment tax returns are correct and complete;

(b)  ensuring that all inheritance tax returns are correct and complete;

(c)  filing any returns by the due date; and

(d)    paying tax on time.

Failure to do this may lead to penalties and/or interest.

Trustees who approve their returns cannot delegate this legal responsibility to others. You agree to check that returns that we have prepared are complete and accurate before you approve them.

To enable us to carry out our work you agree:

(a)  that all returns are to be made on the basis of full disclosure of all sources of income, charges, allowances and capital transactions;

(b)  to provide all information necessary for dealing with the trust’s/estate’s taxation affairs and trust registration and registration updates: we will rely on the information being true, correct and complete and will not audit the information;

(c)  to advise us of distributions made within 30 days of such an event;

(d)  to provide full details of all UK residential property disposals including associated costs/valuations prior to disposal.  Where you consider the trustees will be non-UK resident in the tax year of disposal, full details of all UK property disposals (residential and non-residential) and disposals of shares in UK property rich companies or UK property rich collective investment vehicles, or such other entities must be advised prior to exchange of contracts or agreement to transfer shares or units.  If information is received after this we cannot guarantee that we can provide advice on the amount of capital gains tax due or submit an in-year return within 30 days after the completion date of

(e)  to authorise us to approach such third parties as may be appropriate for information that we consider necessary to deal with the trust’s/estate’s taxation affairs;

(f)  to provide us with information in sufficient time for the trust’s/estate’s self-assessment tax returns to be completed and submitted by the due date of 3st January following the end of the tax year. In order that we can do this, we need to receive all relevant information by 30th June following the end of the tax year. Where feasible, we may agree to complete your return within a shorter period but may charge an additional fee of £250 for so doing;

(g)  to provide us with information in sufficient time for the trust’s/estate’s inheritance tax returns to be completed and submitted by the due dates;

(h)  [to provide us with

  • records of all receipts and payments
  • records of invoices issued and received
  • all information to enable us to prepare your income and expenditure and capital accounts]

You will keep us informed of material changes in circumstances that could affect the income, capital gains and inheritance tax liabilities of the trust/estate. If you are unsure whether the change is material or not, please let us know so that we can assess its significance.

Where you wish us to deal with HMRC communications you will forward to us all communications received from HMRC such as HMRC statements of account, copies of notices of assessment and letters. These must be provided in time to enable us to deal with them as may be necessary within the statutory time limits. It is essential that you let us have copies of any correspondence you receive because HMRC is not obliged to send us copies of all communications issued to you.

If you provide digital services to consumers in the European Union you are responsible for either registering for VAT in that member state or registering for VAT Mini One Stop Shop (MOSS).

If you carry on a business as trustees/executors and make supplies for VAT purposes you are responsible for monitoring the 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 the VAT registration threshold is exceeded, and you would like us to assist in notifying HMRC of your liability to be VAT registered, we will be pleased to assist in the VAT registration process.  Please notify us of your instructions to assist with the 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 VAT registration threshold in force at that time was exceeded.  We will not be responsible if you fail to notify us in time and incur a late registration penalty as a result.

You are responsible for employment taxes, pensions (including auto-enrolment) and the assessment of the tax status of your workers. If you do not understand what you need to consider or action you need to take, please ask us. We will not be in a position to assist you in complying with your responsibilities if we are not engaged to provide such a service. We are not responsible for any penalty that is incurred].

You are reminded that under the Trustee Act 2000 it is your responsibility to regularly review the Trust investments and to have a clear investment policy.

Limitation of liability

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

OVERSEAS ENTITY REGISTRATIONS AND ANNUAL RETURNS

This schedule should be read in conjunction with the engagement letter, other services schedules and our standard terms and conditions.  The schedule sets out the basis on which we have agreed to act as your agent in relation to Overseas entity registration and annual returns.

We have agreed to undertake the following on your behalf:

Complete and submit the company’s overseas entity initial registration Companies House.

Then annually we will prepare and file the annual confirmation statement. You authorise us to submit this electronically using your company’s unique authentication code. 

Your responsibilities

You are legally responsible for: 

Ensuring that details of changes or events that are required by law to be filed at Companies House: it is essential that we as your agent are supplied with all relevant information;  

Filing any forms and returns in a timely manner; 

Maintaining and updating the company’s registers and the register of Persons of Significant Control (PSC)

Penalties and fines to the late filing of information to Companies House can be levied.

To enable us to carry out our work you agree:

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;

to provide us with information in sufficient time for the relevant forms to be completed and submitted to Companies House. 

You will keep us informed of changes and events in your company’s statutory information, including changes in directors, shareholders etc. that require notification to Companies House. If you are unsure whether the change needs to be notified to Companies House, please let us know so we can advise you. 

Data protection

We are committed to ensuring the protection of the privacy and security of any personal data  which we process. Your attention is drawn to paragraph 21 of our standard terms and conditions of business which details how we treat personal data received by us in the  provision of our services during our engagement with you.

Limitation of liability

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

ANNUAL TAX ON ENVELOPED DWELLINGS (‘ATED’)

This schedule should be read in conjunction with the engagement letter, other services schedules and our standard terms and conditions.  The schedule sets out the basis on which we have agreed to act as your agent in relation to ATED matters.

We have agreed to undertake the following on your behalf:

If required register the company for ATED with HMRC.

Complete and submit the company’s annual confirmation statement to Companies House. You authorise us to submit this electronically using your company’s unique authentication code. 

Your responsibilities

You are legally responsible for: 

Ensuring that details of changes or events that effect the company’s charge to ATED, it is essential that we as your agent are supplied with all relevant information.  

Filing any forms and returns in a timely manner; 

Penalties and fines to the late filing of information or filing of incorrect information to HMRC can be levied.

To enable us to carry out our work you agree:

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;

to provide us with information in sufficient time for the relevant changes and submitted to HMRC. 

Data protection

We are committed to ensuring the protection of the privacy and security of any personal data which we process. Your attention is drawn to paragraph 21 of our standard terms and conditions of business which details how we treat personal data received by us in the provision of our services during our engagement with you.

Limitation of liability

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

Contact Us

17 Sheringham Avenue
Southgate
London
N14 4UB
Phone: 0203 7458140
Mobile: 07734069730
Email: keith.felton@kjfaccounting.com

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