This is to set out the basis on which we
would act as your agent, and our respective responsibilities.
1. We shall compile annual accounts based
on the accounting records maintained by you and the information
and explanations given to us and shall compile draft accounts
for your approval.
2. Our work as the compiler of the annual
accounts will not be an audit of the accounts. Consequently,
our work will not provide assurance that the accounting records
or the accounts are free from material misstatement, whether
caused by fraud, other irregularities or errors.
3. We shall report, with any variations that
we consider may be necessary, that in accordance with your
instructions, we have compiled, without carrying out an audit,
the accounts from the accounting records of the business
and from the information and explanations supplied to us.
4. As part of our normal procedures, we may
request you to provide written confirmation of any information
or explanations given to us orally during the course of our
work.
5. We shall prepare on your behalf the self-assessment
returns from the information you supply to us. With your
agreement we may obtain some information direct from your
bank, building society or any other sources of income or
expense.
6. We shall send the return to you for signature
but you are responsible for ensuring the return is correct.
Also, you are legally responsible for ensuring the return
is filed with the Inspector by 31st January each year to
avoid late filing penalties. However, as long as you supply
us with the information on a timely basis, we will ensure
your return is filed within the deadline.
7. We will let you know how much tax you
are due to pay. Please ensure that you pay the amounts on
time to avoid incurring interest and possible penalties.
8. If requested, we will advise you concerning
Value Added Tax but you are primarily responsible for ensuring
that you comply with the Customs and Excise’s regulations
relating to VAT.
9. You will undertake to make available to
us, as and when required, all the accounting records and
other financial information. As part of this process you
will make full disclosure to us of al relevant information.
10. You will be 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.
11. We undertake that we will exercise due
care in the performance of our work in accordance with applicable
professional standards. We will redo any work that you do
not consider satisfactory if it is brought to our attention
within a reasonable time after the work is performed.
12. If, at any time, you would like to discuss
how our service to your could be improved or if you are dissatisfied
with the service, please let us know.
13. We undertake to look into any complaint
carefully and promptly and to do all we can to explain the
position to you.
14. If you feel that a complaint has not
been properly addressed, you may of course take up the matter
with the Institute of Chartered Accountants in England and
Wales.
15. our fees are computed on the basis of time spent on your
affairs and on the levels of skill and responsibility involved.
16. Invoices will be raised at intervals,
depending on the work being undertaken and will be due for
settlement within thirty days of the date of issue. If payment
is not received by the due date, we reserve the right to
charge interest on the amount outstanding, at 3% over the
HSBC base rate. Where special non-routine work is required,
(for example Inland Revenue investigation; cash flows etc.)
we reserve the right to request payment for that work before
commencement.
17. Any disagreement with fee notes issued,
must be made in writing within fourteen days of the date
of issue otherwise they will be deemed to have been accepted.
Only in exceptional circumstances will we commence further
work when a previous fee or part thereof, remains unpaid.
18. We are registered under the Financial
Services Act to provide to you advice regarding pensions
and other similar products. In the course of this advice
we may, if considered appropriate, refer you to an Independent
Financial Adviser, who may pay to us a commission based on
the business written on your behalf.
As soon as we are aware of the amount of
any such commission, we will notify you in writing of the
amount we are due to receive.
19. Confirmation of your agreement in accordance
with your understanding of our terms of engagement, will
be set out in a letter for you to sign and return.
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