Here you will find the terms and conditions for our services. We prioritize transparency and encourage you to read them carefully. If you have any questions, please feel free to reach out to us.
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Agreement
By signing the Letter of Engagement (LOE) provided, you appoint Friendly Assist Accountancy Ltd as your accountants to represent you in all matters specifically mentioned and listed in the LOE. This agreement is made between both parties and can only be amended or modified through a written agreement signed by both parties.
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Confidentiality
As a member firm of AAT, we are committed to high ethical and professional standards. We take the confidentiality of our clients’ information very seriously. All accounts, statements, and reports prepared by us are for your exclusive use within your business or to meet specific statutory responsibilities.
They will not be shared with any third party without your prior consent.
You may provide written consent to appoint someone else to communicate with us on your behalf in case of absence or long-term illness.
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For the purposes of the Data Protection Act 1998, Steffen Kemmerzehl is the Data Controller regarding personal data supplied about you.
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Updates on Terms and Cancellation
These terms and conditions are subject to annual review and updates. We strive to inform clients in advance of any changes, but it is your responsibility to regularly review the terms for updates.
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Fees
All fees are outlined in our Letter of Engagement (LOE). We will notify you by email of any changes to these fees 30 days before the changes take effect. If you disagree with the new fees, mutual cancellation and disengagement as a client will be processed, which may include applicable fees.
Our main fee structure is clearly outlined on our homepage under https://friendlyassistaccountancy.co.uk/pricing. These are referred to as the main fees.
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Services & Fee Adjustments
All packages are available to all clients.
Fees may be subject to promotional offers, which will be clearly advertised on our homepage and mentioned in your LOE.
Our fees are based on the size of your business, HMRC compliance history, and service tier.
If you have not incurred any fees or penalties from HMRC in the two tax years prior to becoming our client, a general discount of 1.5% can be applied to the main fees.
If the accounting tasks you are signed up for relate to a time within the current tax year when you were not our client and if your self-assessment was not undertaken by us in the previous year, you are liable for 70% of the normal monthly fee from the beginning of the tax year, up to a maximum of £500.
If you decide to join us less than four weeks before a relevant tax deadline, a surcharge of 12% will apply.
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Additional or Circumstantial Fees
Onboarding – Additional information fee: £150.
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Governing Law
This agreement is governed by English law (courts of England and Wales).
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Limitation of Liability
Liability is capped at the fees paid in the last 12 months and excludes indirect losses (e.g., HMRC fines due to client negligence).
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Termination of Contract and Disengagement Fees
This agreement will remain effective from the date we receive your signed LOE. You may terminate the agreement, considering any associated fees, at any time.
The date of termination and further conditions will be outlined in a separate Letter of Disengagement (LOD), which we aim to issue within two weeks.
If you choose to disengage after three months of our business arrangement, 15% of the remaining fees for that tax year, with a minimum of £150 and a maximum of £750, will be payable. This is called the disengagement fee. If disengagement is necessary due to unethical, criminal, or intolerable behavior, or due to a lack of communication from you, double the highest normal disengagement fee will be payable.
If you terminate the contract within the first three weeks, an early disengagement fee equal to half of the fee invoiced to you will be payable.
All disengagement fees may be waived at the discretion of the business.
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Lien
No lien will be exercised; however, we may reconsider this depending on clients’ payment punctuality.
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Payments
Payments are to be made via bank transfer. You can find the bank account details in your LOE. Please ensure that payments reach us no later than three working days after the related invoice is due.
If payments are frequently late, we may consider issuing a LOD or temporarily pausing our services. If a pause is implemented, all related consequences will be the client’s responsibility. After the pause, all fees will increase by 2%.
We provide monthly invoices for monthly packages and annual invoices for yearly options. All invoices are due immediately upon receipt.
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Registration, Identification, and Anti-Money Laundering
During the onboarding process, we will register you as a client and comply with all necessary regulations.
If you have any further questions or require clarifications regarding our terms and conditions, please let us know.
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Invoicing
We provide monthly invoices for monthly packages and annual invoices for yearly options. All invoices are due immediately upon receipt.
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Registration, Identification, and Anti-Money Laundering
During the onboarding process, we will register you as a client and conduct a risk-based anti-money laundering assessment. To comply, we need to verify the name and occupation of all individuals with significant power and interest in your business, and retain copies of photographic IDs for some or all of them.
Your personal data may be shared with our professional body, the Association of Accounting Technicians (AAT), and our Anti-Money Laundering Supervisors to meet practice assurance requirements and the obligations of UK anti-money laundering legislation or other applicable laws.
If your business is not registered in the UK, we will apply special regulations regarding all fees and the handling of any potential agreements.
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Correspondence
Any communications may be stored in accordance with legal requirements to ensure a positive business relationship. You can request an overview of the stored communications related to you or your business at any time. This request will be honored without conditions; however, we kindly ask for a £10 fee to cover the additional work involved.
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Referrals and Reviews
We appreciate clients who refer us. If you refer a new client who signs their Letter of Engagement (LOE), you will receive a 15% discount on your next three invoices.
Additionally, if you provide us with an honest review, we will offer you a 5% discount on your next invoice.
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Your Responsibility for the Preparation of Financial Statements
You agree to supply us with all necessary accounting records and financial information for compiling your accounts as needed. It is your responsibility to fully disclose all relevant information.
Before we submit any accounts or returns to HMRC or Companies House, you will have the opportunity to approve them. You must ensure that the financial information used by the business is reliable to the best of your knowledge.
You are responsible for conducting your business activities honestly, safeguarding its assets, and implementing measures to deter and detect fraudulent behavior.
Furthermore, you are liable for ensuring that your business complies with applicable laws and regulations and for implementing measures to prevent and detect any non-compliance.
If you had a professional advisor before becoming our client, please provide their contact details so we can request necessary information from them.
If we are unable to obtain the required information to start our work, we may need to charge an additional fee for the time spent compiling your previous financials.
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Our Responsibilities for the Preparation of Financial Statements
We will compile your annual accounts based on the accounting records and information you provide. We will prepare the accounts for your approval prior to submitting any returns.
We will advise you on the adequacy of your records for preparing the annual accounts and recommend necessary improvements. We cannot be held liable for any losses or penalties resulting from not following our advice.
We will diligently produce financial statements that accurately reflect the information you provide about your business. Our liability for errors in the preparation of accounts, tax returns, or any other work is limited to the fee we charge for that work.
We are committed to compiling accounts that conform to generally accepted accounting principles.
If you require additional work beyond your chosen package, we will agree on an appropriate fee before undertaking the work. We will return your records after completing your year-end procedures via recorded delivery. Records retained at your instruction will be automatically destroyed after seven years.
We will adhere to all civil and criminal legislation currently in force and provide our professional services with reasonable care and skill to ensure you meet relevant deadlines.
We will not be liable for any losses, penalties, or additional tax liabilities due to HMRC, Companies House, or any other organization.
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VAT
All fees are exclusive of VAT.
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Professional Indemnity Insurance
Professional Indemnity Insurance for Friendly Assist Accountancy Ltd is provided by Trafalgar Risk Management Ltd., located at 51 Eastcheap, London, EC3M 1JP.
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Tax Returns
We will be able to represent you for all services included in your LOE after completing the onboarding process. We will prepare the accounts and tax returns based on the records and other information you provide.
We will seek your approval before submitting any accounts or returns to Companies House or HMRC. If you request amendments to the accounts or tax returns, the first amendment will be included at no extra charge.
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VAT Returns (if applicable)
We will represent you for your business’s VAT affairs after the onboarding process is complete. If you require specialized VAT advice beyond the standard service, we reserve the right to withdraw our VAT services, in which case your fees will be reduced by 10%.
Before submitting your VAT return to HMRC, we will seek your approval. We will guide you regarding the amounts of VAT to be paid or repaid and the relevant deadlines.
It is your responsibility to ensure that all supplies made by your business are accurately recorded and made available to us.
We will remind you of your statutory responsibilities and the strict rules and time limits for submitting VAT returns. Failing to comply with these regulations can result in substantial penalties, so it is essential that we receive complete information from you promptly to ensure timely submissions. We will not be liable for any penalties or additional costs that may arise.
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Payroll (if applicable)
We will provide payroll services as part of your package. To do this, we require certain information from you, including but not limited to:
– Notification within two weeks of any employee who is ill for four or more calendar days, including weekends and bank holidays. This allows us to manage statutory sick pay.
– Notification of any employee who becomes pregnant, enabling us to manage statutory maternity pay.
– Details of any money or benefits provided to employees by you or a third party.
– Records of hours worked, rates of pay, bonuses, etc.
– Notification of any employees starting or leaving your employment.
– Information on holiday pay disbursed to employees.
– Copies of any notices of coding received by you.
If you engage any casual labor, you are required to follow the P46 procedures. Please supply completed P46 forms for processing and contact us if you need an explanation of this process.
RTI returns must be submitted to HMRC on the same day you pay your employees, making it crucial that we receive your payroll records on time.
We will remind you of your statutory responsibilities and emphasize the importance of adhering to submission deadlines to avoid penalties. As stated, we will not be liable for any resulting penalties or additional costs.
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Bookkeeping (if applicable)
If your level of engagement includes bookkeeping, we will enter your business transactions into a system that best suits your needs.
We require all necessary business documentation to complete the bookkeeping process, including sales invoices, purchase invoices, expense receipts, bank statements, paying-in/cheque books, and credit card statements. You must notify us of any new business documentation or transactions within two working days.
We will retain your paperwork until the issue of your Letter of Declaration (LOD) or until we successfully process your returns, statements, or accounts for the relevant tax year.
If you handle your own bookkeeping, we expect to receive reconciled records (if a double-entry system is appropriate). We will inform you of any discrepancies and await your instructions before proceeding.
If you request us to correct any bookkeeping errors or amend any previously completed bookkeeping, we will increase your fees by 10% effective from the day the first bookkeeping error is identified.
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Contractors and IR35 (if applicable)
If your business involves contracting, it is important to evaluate your exposure to IR35 regulations. It is your responsibility to assess your risk regarding IR35 compliance.
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Complaints
All complaints should be submitted in writing within a maximum of two months following the related incident to hello@friendlyassistaccountancy.co.uk. All complaints will be addressed free of charge.
This agreement will remain binding even if one or more of the conditions are not met or applicable.
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Friendly Assist Accountancy LTD