PLEASE READ THESE TERMS CAREFULLY TO UNDERSTAND THE BASIS ON WHICH WE PROVIDE THE SERVICES TO YOU.
This is a framework Agreement, covering all of the Services we offer. The Letter of Engagement will identify and scope the particular Services applicable to you. Any reference in this Agreement to other Services not included in your Letter of Engagement or subsequently agreed in writing can therefore be ignored.
1. This Agreement
1.1 We are Daniel Wolfson & Co Ltd (us/our/we) , a limited company incorporated in England and Wales with our registered office at 34a Watling St, Radlett, Hertfordshire, WD7 7NN.
1.2 The terms set out in this Agreement are the basis on which we will provide the Services to you and will apply to the entire relationship between us and you.
1.3 By signing these terms, You accept them. We will refer to you as the Company (you/your/Company) in the Letter of Engagement that forms part of this Agreement as a legally binding contract with us. You also represent and warrant that you have all necessary capacity and authority to enter into this Agreement on behalf of such entity. If you do not have such capacity or authority or do not wish to accept this Agreement, you must not proceed to sign this Agreement.
1.4 We may update any part of this Agreement or other documents referred to in it from time to time, by notifying you by reasonable means (including e-mail). If you do not agree to any such update, you should let us know and if we cannot agree an amendment, we are both satisfied with, you may terminate this Agreement with notice in writing and stop using the Services.
2. Definitions
3. Term
4. Appointment & Our Responsibilities
5. Tax Planning and Advice
6. Your Responsibilities
7. Fees & Payment
8. Handling Your Funds
9. Conflict of Interest
10. Ani-Money Laundering Legislation
11. Data Protection & Retention of Documents
12. Intellectual Property Rights
13. Confidential Information
14. Insurance
15. Limitation of Liability
16. Termination
17. Force Majeure
18. Electronic Communications Risk
19. Dispute Resolution, Governing law, and Jurisdiction
20. Non-Solicitation
21. General
Schedule 1
Additional Fees
Our Fees may depend not only upon the time spent on your affairs but also on the level of skill and responsibility, and the importance and value of the advice that we provide, as well as the level of risk.
Fees for Services provided to you are as set out in the Letter of Engagement read with the Statement of Facts.
Additional Fees (over and above any package pricing where applicable)
Type of Service
Information Required
Additional Charge Applicable
BACS payment For monthly packages not paid by Direct Debit, an admin charge will be added to your invoice for processing bank transfer payments. £50 plus VAT
Cheque payment An admin charge will be added to your invoice for processing payments by cheque. £25 plus VAT
Cash payment An admin charge will be added to your invoice for processing payments by cash. £25 plus VAT
Direct Debit failure An admin charge will be added to your invoice for any failed direct debit payments. £50 plus VAT
Work on hold charge An admin fee if your work has been put on hold for non-payment of fees £50 plus VAT
Missed meeting Fee for failure to attend meeting £50 plus VAT
Onboarding fee An admin fee covering onboarding and set-up on software, systems and processes £250 plus VAT
Cancellation fee An admin fee covering the cancellation of services from software, systems and processes. £100 plus VAT
Liquidator requests Fee for dealings with requests for information from Liquidators From £500 plus VAT
Debt collector visits Fee for dealing to debt collector visits where we act as the registered office. Minimum £50 plus VAT(for each 15 mins)
VAT
All the above sums are stated exclusive of VAT, which you will pay in addition, at the rate applicable at the relevant time upon receipt of a valid VAT invoice in each case.
Schedule 2
Timescales and details of Information to be provided
The below timeframes and submissions are subject to you instructing us to provide such Services in terms of the Letter of Engagement or the Services or Amended Services.
Your failure to do adhere to providing information by the dates set out below, so, may result in late/no submission by us and you may incur penalties, interest, and other charges/consequences as a result, for which we will have no liability of whatsoever nature.
Type of Service
Information Required
Deadline Date
Additional Charge Applicable
Payroll Changes to fixed payroll New employees Variable payroll 20th of payroll month
VAT Bills for the period Invoices for the period 20th of the month following the end of a VAT Quarter £100 plus VAT for late documents (at firm's discretion)
Final Accounts All information required for the preceding financial Year as requested 240 days from the date of its Year End £100 plus VAT for documents after 210 days, £75 plus VAT for additional draft accounts (after the first 2), £30 plus VAT per hour for rectifying bookkeeping errors
Final Accounts Response time required to queries on data provided to complete Final Accounts 5 working days in first 240 days from the date of its Year End. 2 working days between 241 and 270 days from the date of its Year End £50 plus VAT on each occasion
Interim Estimated Accounts Fee for the filing of Interim Estimated Accounts £75 plus VAT
Accounting Period Extension Fee for applying for a 3-month extension of year end accounts submission date £100 plus VAT
Confirmation Statement Amendments required and Approval 5 days before submission deadline £25+VAT if not included in package, £25+VAT for late approval for filing
Director’s Tax Self-Assessment All documents and information necessary and requested 30 September after the tax year’s end £50 for documents received after September
Individual’s Tax Self-Assessment All documents and information necessary and requested 30 November after the tax year’s end Higher of £50 or 10% of Agreement fee for late documents
Tax Planning & Advice Separate engagement letter
Schedule 3
Periods to keep records:
Periods the law mandates you keep records:
a. For individuals, trustees, and partnerships:
i. For those with trading or rental income: keep records for five years and 10 (ten) months post the tax year’s end.
ii. For all other situations: keep for 22 (twenty-two) months post the tax year’s end.
b. For companies, LLPs, and other corporate entities:
i. Keep records for 6 (six) years following the end of the accounting period.
These periods are correct as of August 2023. The latest up to date periods can be found at:
https://www.gov.uk/keeping-your-pay-tax-records/how-long-to-keep-your-records or any replacement website as published by the HMRC.
