Schedule of Professional Services - Accounting: Bookkeeping


1. ACCOUNTING SERVICES

1.1 When requested, we will carry out the following services as your agents on the basis that you will make full disclosure to us of all relevant information:

• providing assistance in preparing and lodging returns with the Registrar of Companies; and
• investigating irregularities and fraud upon receiving specific instructions.

2. SECRETARIAL (LIMTED COMPANIES AND LLPS ONLY)

2.1. When requested, we shall provide assistance to the company secretary (or director acting in that capacity) in the preparing and lodging of forms with the Registrar of Companies.

2.2 When requested, we shall prepare a Persons with Significant Control Register and lodge it at Companies House.

2.3 When requested, we shall prepare a confirmation statement that the information Companies House holds on the company is correct, and file it with amendments if necessary, at Companies House. This statement must be filed at Companies House within 14 days of the annual confirmation date but can be filed at any time within the 12 month period.

2.4 The company secretarial services will be subject to a seperate charge.

3. BOOKKEEPING

3.1 Where we have agreed that we will be responsible for process your bookkeeping, we shall:

i process all accounting transactions with the records provided to us;

ii reconcile the bank account to the cash book in the financial statements; and

iii agree trade debtors and trade creditors.

3.2 In processing your bookkeeping, we are entitled to assume that the source records maintained by you are accurate, up to date and comprehensive. You will deliver your source records to us in a prompt manner so as to enable us to carry out our work within the statutory deadlines.

4. SOLICITOR CLIENT ACCOUNTS

4.1 Where we have agreed to assist you in reconciling your solicitor client money accounts, you will post most of the client account transactions to the client ledgers.

4.2 At the end of each month, we shall:

i reconcile the client bank account to the bank statements;

ii reconcile the client bank account to the client ledger; and

iii review the client ledger for any debit balances and draw these to your attention.

5. VAT RETURNS

5.1 Where agreed, we shall produce the VAT returns from the records provided to us in the agreed format.

5.2 We will prepare the quarterly return form VAT 100 from the records of your business. We will not audit or otherwise check the underlying records. When the VAT return has been completed from the information supplied, we will send you the return form within 10 days of your making the records available to us for you to review. If you agree the return you should then submit it to HM Revenue & Customs (“HMRC”) together with the required payment, or give us your consent to file the return on your behalf. The payment of the VAT liability by the due date remains your responsibility. If you consider the return to be incorrect please consult us immediately.

5.3 We accept no responsibility for any default surcharge that may arise if the books and records are not available to us within 10 days after the return period ends or the books and records prove to be incomplete or unclear, and in particular are not written up to the end of the period, thereby delaying the preparation and submission of the VAT return, or you fail to submit the return and any required payment to HM Revenue and Customs on time after we have sent the return to you for signature or approval for online filing.

5.4 From 1 April 2009 a new VAT penalty regime came into force. Under the new penalty regime, the level of penalty will be variable – up to 30% for a careless error, up to 70% where the error is deliberate, and up to 100% where the error is both deliberate and concealed. Failure to notify and/or correct an error, once discovered, will be treated as a careless error.

5.5 We will produce your VAT returns from the information and explanations that you have provided to us. In preparing VAT returns, we are entitled to assume that the records maintained by you are accurate, up to date and comprehensive. If errors in your VAT returns arise as a result of inadequacies, omissions or other shortcomings in the records and information you supply to us, any relevant penalties will be your responsibility.

6. MANAGEMENT ACCOUNTS

6.1 Where agreed, we shall produce quarterly or monthly management accounts from the accounting records.  This service is a separately chargeable item.

Updated  May 2018
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