|
accounts
audits
tax
sole traders
limited companies
bookkeeping
business Startup
payroll
PLC Formation
VAT
..........................................
Accounts Preparation
Limited Company Accounts
Management Accounts
Personal Tax Returns
Partnership Tax Returns
Company Tax Returns
Tax Planning
Bookkeeping
VAT Returns
VAT Planning
Payroll
Formation of Limited Companies
Business Plans
Business Development/Advice
Cash Flow Forecasts
Computer & Internet Advice
Setting up Accounting Systems
Bookkeeping/Accountancy Software Training
Problem Solving
Contacts:
General
Enquiries
Accounts
Department
Tax Department
Payroll Department
VAT Department
Webmaster
|
Sole Traders
This page sets out the basis on which we act as your
tax agent and advisor. This engagement will commence with your Tax Return
for the year to 5 April 2005.
Our Services to You
We will prepare the accounts of your business and the income tax computations
based thereon from your accounting records and other information and
explanations provided by you. We will not carry out an audit of those
records.
We will prepare your Personal Self Assessment Tax Return
together with such supporting schedules as are appropriate and we will
prepare your Self Assessment of Tax and Class 4 National Insurance Contributions.
We will send your Tax Return and business accounts for your approval
and signature. We will then submit the Tax Return to the Inland Revenue.
We will tell you how much Tax and National Insurance Contributions you
should pay and when. If appropriate, we will initiate repayment claims
when tax has been overpaid.
We will deal with the Inland Revenue regarding any amendments required
to your Tax Return and prepare any amended Tax Returns, which may be
required.
We will advise as to any claims and elections arising from the Tax Return
and from information supplied by you. Where instructed by you, we will
make such claims and elections in the form and manner required by the
Inland Revenue. We will not however be responsible for making any claim
on your behalf to any Tax Credit Reliefs.
We will deal with all communications relating to your Tax Return addressed
to us by the Inland Revenue or passed to us by you. However, if the
Inland Revenue choose your Tax Return for enquiry, this work may need
to be the subject of a separate assignment/fee note and we would refer
you to the section below relating to fees.
Your Responsibilities: Provision of Information by You
You are legally responsible for making correct returns by the due date
and for payment of tax on time. Failure to meet the deadlines may result
in automatic penalties, surcharges and/or interest.
To enable us to carry out our work your agree:
a) That all Returns are to be made on the basis of full disclosure of
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 of those documents;
c) That we can 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 of 31 January following
the end of the tax year. In order that we can do this, we need to receive
all relevant information by 31 October following the end of the tax
year.
e) To forward to us on receipt, copies of all Inland Revenue Statements
of Account, PAYE coding notices, notices of assessment, letters and
other communications received from the Inland Revenue to enable us to
deal with them as may be necessary within the statutory time limits.
f) To keep us informed about changes in your circumstances if they are
likely to effect your tax position.
g) To advise us immediately about any theft of stock/cash or assets
from the business.
h) To provide full disclosure to us of all assets/monies introduced
into the business together with satisfactory evidence of the source
of any such introductions.
Other Services and General Tax Advice
We will be pleased to assist you generally in tax matters if you so
require. To enable us to do this you need to instruct us in good time.
Because tax rules change frequently you must ask us to review any advice
already given if a transaction is delayed or if an apparently similar
transaction is to be undertaken. It is our policy to confirm in writing
advice upon you may wish to rely.
We will be pleased to advise on any of the following tax matters if
so requested and these will be the subject of a separate engagement:
Pay As You Earn including year end returns and matters relating to your
employees;
Forms P11D;
Obligations under IR35;
Returns for subcontractors;
VAT Returns;
Inheritance tax
Professional Rules and Practice Guidelines
We will observe the by-laws, regulations and ethical guidelines of the
Institute of Chartered Accountants in England and Wales and accept instructions
to act for you on the basis that we will act in accordance with those
guidelines. In particular, you give us authority to correct Inland Revenue
errors. A copy of these guidelines is available for your inspection
in our offices.
Client Monies
We may, from time to time, hold money on your behalf. Such money will
be held in trust in a client bank account, which is segregated from
the firm's funds.
Retention of Records
During the course of our work we will collect information from you and
others acting on your behalf and will return any original documents
to you (or notify you to collect them from us) following preparation
of your accounts and Tax Return, subject to our fees for any such work
having been paid accordingly. You should retain them for 7 years following
the end of the tax year. This period may be extended if the Inland Revenue
enquire into your Tax Return.
Should for any reason, eg. cessation of business, any records be held
in storage for a period longer than 3 months from final instruction
and due notification from ourselves relating to collection of records,
we reserve the right to make a charge on an annual/pro rata basis of
£50 plus VAT for storage in archive.
Quality of Service
We aim to provide a high quality service at all times. If you would
like to discuss with us how our service could be improved or if you
are dissatisfied with the service you are receiving please let us know.
We undertake to look into any complaint carefully and promptly and to
do all we can to explain the position to you. If we do not answer your
complaint to your satisfaction you may take up the matter with the Institute
of Chartered Accountants in England and Wales.
Limitations of Liability
The advice which we give to you is for your sole use and does not constitute
advice to any third party to whom you may communicate it.
We will provide the professional services outlined in this letter with
due care and diligence. However, we will not be responsible for any
losses, penalties, surcharges, interest or additional tax liabilities
arising from the supply by you or others of incorrect or incomplete
information, or from the failure by you or others to supply any appropriate
information or your failure to act on our advice or respond promptly
to communications from us or the tax authorities.
E-mail may be used to enable us to communicate with you. As will other
means of delivery this carries with it the risk of inadvertent misdirection
or non-delivery. It is the responsibility of the recipient to carry
out a virus check on any attachments received.
Electronic Communication
As Internet communications are capable of data corruption we do not
accept any responsibility for charges made to such communications after
their dispatch. For this reason it may be inappropriate to rely on advice
contained in an e-mail without obtaining written confirmation of it.
All risks connected with sending commercially sensitive information
relating to your business are borne by you and are not our responsibility.
If you do not accept this risk, you should notify us in writing that
e-mail is not an acceptable means of communication.
Applicable Law
This engagement letter is governed by and construed in accordance with
English law. The courts of England will have exclusive jurisdiction
in relation to any claim, dispute or difference concerning this engagement
letter and any matter arising from it. Each part irrevocably waives
any right it may have to object to any action being brought in those
courts, to claim that that action has been brought in an appropriate
forum, or to claim that those courts do not have jurisdiction.
In common with all accountancy and legal practices, the firm is required
by the Proceeds of Crime Act 2002 and the Money Laundering Regulations
2003 to:
Maintain identification procedures for all new clients;
Maintain records of identification evidence;
Report-in accordance with the relevant legislation and regulations-to
the National Criminal Intelligence Service.
Data Protection
To enable us to discharge the services agreed under this engagement,
and for other related purposes including updating and enhancing client
records, analysis for management purposes and statutory returns, crime
prevention and legal and regulatory compliance, we may obtain, use,
process and disclose personal data about you. You have a right of access,
under data protection legislation, to the personal data that we hold
about you. For the purposes of the Data Protection Act 1998, the Data
Controller in relation to personal data supplied about you is Gwen Brookes.
Agreement Of Terms
In due course we will require you to confirm your acceptance of these
Terms & Conditions, in writing, before we are able to act on your
behalf.
This letter of acceptance will supersede any previous engagement letter
for the period concerned. Once agreed the letter will remain effective
from the date of signature until it is replaced. You or we may vary
or terminate our authority to act on your behalf at any time without
penalty. Notice of variation or termination must be given in writing.
....................................................................................
Partnerships
Terms of Engagement
This sets out the basis on which we act as your tax agent and advisor
to your business. We will issue separate engagement letters to individual
partners where we deal with their personal affairs. This engagement
will commence with the Partnership Tax Return for the year to 5 April
2005.
Our Services to You
We will prepare the accounts of your business and the income tax computations
based thereon from your accounting records and other information and
explanations provided by you. We will not carry out an audit of those
records. We will prepare the business's annual Partnership Tax Return,
including the partnership statement of total income, gains, losses,
tax credits and charges of the business for each period of account ending
in the Return period.
We will send the business accounts and the Partnership Tax Return for
your approval and signature. We will then submit the Partnership Return
to the Inland Revenue. We will deal with the Inland Revenue regarding
any amendments required to the Partnership Tax Return and prepare any
amended Tax Returns, which may be required. We will advise as to any
claims and elections arising from the Tax Return and from information
supplied by you. Where instructed by you, we will make such claims and
elections in the form and manner required by the Inland Revenue. We
will deal with all communications relating to the Partnership Tax Return
addressed to us by the Inland Revenue or passed to us by you. However,
if the Inland Revenue choose the Partnership Tax Return for enquiry,
this work may need to be the subject of a separate
assignment/fee note and we would refer you to the section below relating
to fees.
Your Responsibilities: Provision of Information by You
The partnership is legally responsible for making correct returns by
the due date. Failure to meet the deadlines may result in automatic
penalties.
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 sources of income, charges, allowances and capital transactions;
b) To provide full information necessary for dealing with the partnership's
affairs: we will rely on the information and documents being true, correct
and complete and will not audit the information of those documents;
c) That we can approach such third parties as may be appropriate for
information that we consider necessary to deal with the partnership's
affairs;
d) To provide us with information in sufficient time for the Partnership
Tax Return to be completed and submitted by the due date of 31 January
following the end of the tax year. In order that we can do this, we
need to receive all relevant information by 31 October following the
end of the tax year.
e) To forward to us on receipt, letters and other communications received
from the Inland Revenue to enable us to deal with them as may be necessary
within the statutory time limits.
f) To keep us informed about changes in your circumstances if they are
likely to effect your tax position.
g) To advise us immediately about any theft of stock/cash or assets
from the business.
h) To provide full disclosure to us of all assets/monies introduced
into the business together with satisfactory evidence of the source
of any such introductions.
Other Services and General Tax Advice
We will be pleased to assist the partnership in tax matters if you so
require. To enable us to do this you need to instruct us in good time.
Because tax rules change frequently you must ask us to review any advice
already given if a transaction is delayed or if an apparently similar
transaction is to be undertaken. It is our policy to confirm in writing
advice upon you may wish to rely.
We will be pleased to advise on any of the following tax matters if
so requested and these will be the subject of a separate engagement:
Pay As You Earn including year end returns and matters
relating to your employees;
Forms P11D;
Obligations under IR35;
Returns for subcontractors;
VAT Returns
Professional Rules and Practice Guidelines
We will observe the by-laws, regulations and ethical guidelines of the
Institute of Chartered Accountants in England and Wales and accept instructions
to act for the business on the basis that we will act in accordance
with those guidelines. In particular, you give us authority to correct
Inland Revenue errors. A copy of these guidelines is available for your
inspection in our offices.
Client Monies
We may, from time to time, hold money on your behalf. Such money will
be held in trust in a client bank account, which is segregated from
the firm's funds.
Retention of Records
During the course of our work we will collect information from you and
others acting on your behalf and will return any original documents
to you (or notify you to collect them from us) following preparation
of the accounts and Partnership Tax Return, subject to our fees for
any such work having been paid accordingly. You should retain them for
7 years following the end of the tax year. This period may be extended
if the Inland Revenue enquire into the Partnership Tax Return.
Should for any reason, e.g. cessation of business, any records be held
in storage for a period longer than 3 months from final instruction
and due notification from ourselves relating to collection of records,
we reserve the right to make a charge on an annual/pro rata basis of
£50 plus VAT for storage in archive.
Quality of Service
We aim to provide a high quality service at all times. If you would
like to discuss with us how our service could be improved or if you
are dissatisfied with the service you are receiving please let us know.
We undertake to look into any complaint carefully and promptly and to
do all we can to explain the position to you. If we do not answer your
complaint to your satisfaction you may take up the matter with the Institute
of Chartered Accountants in England and Wales.
Limitations of Liability
The advice which we give to you is for your sole use and does not constitute
advice to any third party to whom you may communicate it.
We will provide the professional services outlined in this letter with
due care and diligence. However, we will not be responsible for any
losses, penalties, surcharges, interest or additional tax liabilities
arising from the supply by you or others of incorrect or incomplete
information, or from the failure by you or others to supply any appropriate
information or your failure to act on our advice or respond promptly
to communications from us or the tax authorities.
E-mail may be used to enable us to communicate with you. As will other
means of delivery this carries with it the risk of inadvertent misdirection
or non-delivery. It is the responsibility of the recipient to carry
out a virus check on any attachments received.
Electronic Communication
As Internet communications are capable of data corruption we do not
accept any responsibility for charges made to such communications after
their dispatch. For this reason it may be inappropriate to rely on advice
contained in an e-mail without obtaining written confirmation of it.
All risks connected with sending commercially sensitive information
relating to the business are borne by you and are not our responsibility.
If you do not accept this risk, you should notify us in writing that
e-mail is not an acceptable means of communication.
Applicable Law
This engagement letter is governed by and construed in accordance with
English law. The courts of England will have exclusive jurisdiction
in relation to any claim, dispute or difference concerning this engagement
letter and any matter arising from it. Each part irrevocably waives
any right it may have to object to any action being brought in those
courts, to claim that that action has been brought in an appropriate
forum, or to claim that those courts do not have jurisdiction.
In common with all accountancy and legal practices, the firm is required
by the Proceeds of Crime Act 2002 and the Money Laundering Regulations
2003 to:
Maintain identification procedures for all new clients;
Maintain records of identification evidence;
Report-in accordance with the relevant legislation and regulations-to
the National Criminal Intelligence Service.
Data Protection
To enable us to discharge the services agreed under this engagement,
and for other related purposes including updating and enhancing client
records, analysis for management purposes and statutory returns, crime
prevention and legal and regulatory compliance, we may obtain, use,
process and disclose personal data about you. You have a right of access,
under data protection legislation, to the personal data that we hold
about you. For the purposes of the Data Protection Act 1998, the Data
Controller in relation to personal data supplied about you is Gwen Brookes.
Agreement of Terms
In due course we will require you to confirm your acceptance of these
Terms & Conditions, in writing, before we are able to act on your
behalf.
This letter of acceptance will supersede any previous engagement letter
for the period concerned. Once agreed the letter will remain effective
from the date of signature until it is replaced. You or we may vary
or terminate our authority to act on your behalf at any time without
penalty. Notice of variation or termination must be given in writing.
Our
Affiliates
|
