Standard Terms + Conditions

We are bound here at “Simply Accounts” by the ethical guidelines of the Association of Accounting Technicians and accept instructions to act for you on the basis that we will act in accordance with those ethical guidelines.


1. Accounting

1.1 - We will undertake and prepare your financial statements for your year end and subsequent years.

1.2 - We will not be carrying out an audit and accordingly, we will not verify the assets and liabilities of the business, nor the items of expenditure and income.

1.3 - We would emphasise that we cannot undertake to discover any shortcomings in your systems or any irregularities, although we will endeavour to advise you of any such circumstances.

1.4 - To ensure that anyone reading the financial statements is aware that we have not carried out an audit, we will annex to the financial statements a short report. Our reports must remain attached to any accounts shown to any other parties.

1.5 - Accounts need to be completed prior to submission of the self-assessment tax return. Failure to submit the return on time will result in penalties and is likely to incur surcharges and interest. To avoid this, we must have your accounting records by 31st December each year or a double fee will be introduced. This is due to the complexity and time limits left until the final submission date to HMRC. Subsequently, any queries raised on the records must be answered promptly, otherwise we cannot guarantee the completion of the accounts.

 

2. Income Tax

2.1 - This engagement will continue with your tax return for your next financial year.

2.2 - We will prepare the income tax computations based on the accounts of your business form the accounting records and other information and explanations provided by you.

2.3 - We will prepare your personal tax return with the relevant supporting schedules as appropriate and will check the HM Revenue and Custom’s calculation of your self-assessment of tax and Classes 2 and 4 of National Insurance.

2.4 - We will provide your tax return, business accounts and supporting schedules for you to approve and sign.  We will then submit it, with the accounts and computations, to the HM Revenue and Customs.

2.5 - We will tell you how much tax and National Insurance contributions you should pay and when. If appropriate, we will initiate repayment claims when the tax and National Insurance contributions have been overpaid.

2.6 - We will deal with the HM Revenue and Customs regarding any amendments required to your return and prepare any amended returns, which may be required.

2.7 - We will advise as to possible 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 HM Revenue and Customs.

2.8 - We will deal with all communications relating to your return addressed to us by HM Revenue and Customs or passed to us by you.  However, if the HM Revenue and Customs choose your return for enquiry this work may need to be the subject of a separate assignment in which case we will seek further instructions from you.

 

              

Your Responsibilities: Provision of Information by You

2.9  - You are legally responsible for making correct returns by the due date and for payment of tax on time.  Failure to do so may result in automatic penalties, surcharges and/or interest.

2.10 - To enable us to carry out our work you agree:

(a)  That all returns are to be made based on full disclosure of all sources of income, charges, allowances and capital expenditure;

(b)  To provide full information necessary for dealing with your affairs: we will reply 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 enough time for your tax return to be completed and submitted by the due date;

(e)  To forward us on receipt copies of all HM Revenue and Customs statements of account, notices of assessment, letters and any other communications received for the Inland Revenue to enable us to deal with them as may be necessary with the statutory time limits;

(f)  To keep us informed about significant changes in your circumstances if they are likely to affect your tax position.

 

3. Other Services

3.1 - However, there are many other areas where we can be of assistance and we shall be pleased to discuss any matter with you. 

These other services include:

(a)  Reports in support of returns or claims, e.g. insurance claims, government claims etc.

(b)  Advise on financial matters.

(c)  Management accounting, including such matters as cash flow statements, costing systems etc., and advice on management.

(d)  Independent Examinations for Charities

(e)  VAT Submission via Digital

(f)  Any other services can be arranged.

 

4. Limitation of Liability

4.1 - Our aggregate liability to you or any other party, of whatever nature, whether in contract, tort or otherwise for any losses whatsoever and howsoever caused arising from or in any way connected with the services described within this engagement letter shall not exceed our fees.

 

5. Agreement of Terms

5.1 - The terms set out in this letter and our attached Standard Terms of Business shall take effect immediately upon your countersigning this letter and returning it to us or upon the commencement of the accounts, and tax return for the account period ending this year, whichever is the earlier.

5.2 - These terms will also apply to any matter dealt with in respect of periods prior to this year.

5.3 - Once it has been agreed, this letter and the attached Standard Terms of Business will remain effective until they are replaced. We shall be grateful if you could confirm your agreement to these terms by signing the enclosed copy of this letter and returning it to us immediately.

5.4 - We reserve the rights to increase our prices as per inflation or any foreseeable or unforeseeable circumstances.

5.5 - In compliance with Anti-Money Laundering Regulations and the ICO GDPR’s we perform a soft credit-check on all clients through an external accredited company, CreditSafe. Upon results of the check we reserve the right to agree client payment terms. Client credit data may be shared between the Simply Accounts umbrella but shall not be passed on to external sources.  Also, under the GDPR regulations we will be holding your email correspondence address for communications, and by the signing of this contract, gives us authority to do so.

N.B.  Please not that these Terms and Conditions are not wholly and solely and are tailored for each individual need.