TERMS OF ENGAGEMENT
Client’s responsibilities
1. You will be responsible for the reliability, accuracy and completeness of the accounting records.
2. You have undertaken to make available to us, as and when required, all your accounting records and related financial information, including any minutes of management meetings, necessary to carry out our work.
You will provide us with all information and explanations relevant to the purpose and compilation of the financial information.
Scope of the accountants’ work
3. You have asked us to assist you with your tax problem which may involve completion of a Self-Assessment Income Tax Return or other forms providing us with the relevant notes, to enable profits to be calculated such as to meet the requirements of Section 42 of the Finance Act 1998, as amended by the Finance Act 2002 and which provides sufficient and relevant information to enable the completion of a tax return. We will compile the financial information for your approval based on the accounting records maintained by you and the information and explanations you give us.
4. Our work will not be an audit of the financial information in accordance with Auditing Standards. Consequently, our work will not provide any assurance that the accounting records or the financial information are free from material misstatement, whether caused by fraud, other irregularities or error and cannot be relied on to identify weaknesses in internal controls.
5. Since we have not carried out an audit, nor confirmed in any way the accuracy or reasonableness of the accounting records maintained by the client, we are unable to provide any assurance as to whether the financial information that we prepare from those records presents a true and fair view.
6. As part of our normal procedures, we may request you to provide written confirmation of any information or explanations given by you orally during the course of our work.
7. You will approve and sign the financial information thereby acknowledging responsibility for it, including the appropriateness of the Accounting basis on which it has been compiled, and for providing us with all information and explanations necessary for its compilation.
8. We confirm that our fees to you are payable in advance for the team to work on your matter in hand. Our fees are payable on presentation of a Fee Note.
9. We will not send sensitive information to the client by e-mail transmission as this is an unsecure medium of communication. Communication with the client will be carried by letter post and telephone.
10. The client is encouraged to keep the Accountant fully informed of all events during the period the matter of instruction is being undertaken.
11. Office hours are between 09:00hrs and 17:00Hrs. Outside these hours
A Telephone answering machine will be available.
12. A Client may withdraw their instruction for the Accountant to act for them at any time during the matter in hand is being prepared provided good reasons are given in writing and our fees are settled in full for all work carried out on behalf of the Client to the date of termination of instruction.
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Client’s responsibilities
1. You will be responsible for the reliability, accuracy and completeness of the accounting records.
2. You have undertaken to make available to us, as and when required, all your accounting records and related financial information, including any minutes of management meetings, necessary to carry out our work.
You will provide us with all information and explanations relevant to the purpose and compilation of the financial information.
Scope of the accountants’ work
3. You have asked us to assist you in the completion of a 2022 Self-Assessment Income Tax Return by providing us with the relevant notes, to enable profits to be calculated such as to meet the requirements of Section 42 of the Finance Act 1998, as amended by the Finance Act 2002 and which provides sufficient and relevant information to enable the completion of a tax return. We will compile the financial information for your approval based on the accounting records maintained by you and the information and explanations you give us.
4. Our work will not be an audit of the financial information in accordance with Auditing Standards. Consequently, our work will not provide any assurance that the accounting records or the financial information are free from material misstatement, whether caused by fraud, other irregularities or error and cannot be relied on to identify weaknesses in internal controls.
5. Since we have not carried out an audit, nor confirmed in any way the accuracy or reasonableness of the accounting records maintained by the client, we are unable to provide any assurance as to whether the financial information that we prepare from those records presents a true and fair view.
6. As part of our normal procedures, we may request you to provide written confirmation of any information or explanations given by you orally during the course of our work.
7. You will approve and sign the financial information thereby acknowledging responsibility for it, including the appropriateness of the Accounting basis on which it has been compiled, and for providing us with all information and explanations necessary for its compilation.
8. We confirm that our fees to you remain at £75per hour for the team to work on your matter in hand. Our fees are payable on presentation of a Fee Note.
9. We will not send sensitive information to the client by e-mail transmission as this is an unsecure medium of communication. Communication with the client will be carried by letter post and telephone.
10. The client is encouraged to keep the Accountant fully informed of all events during the period the matter of instruction is being undertaken.
11. Office hours are between 09:00hrs and 17:00Hrs. Outside these hours
A Telephone answering machine will be available.
12. A Client may withdraw their instruction for the Accountant to act for them at any time during the matter in hand is being prepared provided good reasons are given in writing and our fees are settled in full for all work carried out on behalf of the Client to the date of termination of instruction.
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PREPARATION OF ANNUAL ACCOUNTS
I shall need the following documents to prepare your accounts for the trading year 01 April 2022 to 31 March 2023:-
- A full set of currant account Bank statements used for your business.
- A full set of deposit account statements if applicable.
- A full set of credit card statements if use for business purchases.
- A full list of all copy sales invoices issued between 01 April 2022 to 31 March 2023.
- A list of issued sales invoices outstanding of settlement on 01 April 2023.
- All invoices/receipt received from suppliers of goods and services.
- A list of all suppliers invoices not paid on 01 April 2023.
- Copies of invoices & HP agreement(s) for equipment acquired for your business during the trading year under review.
- List of all dates you purchased existing equipment prior to April 2022 use for your business and the purchase cost of each item.
- Value of any contract(s) due to commence during the forthcoming trading year 01 April 2023 to 31 March 2024.
- Details of mortgage interest paid during the tax year ended 5 April 2023.
- The cost of utilities i.e. power and heating during the year ended 5 April 2023.
- Council tax paid for 2022/2023.
- Premium paid for house building & contents insurance paid for 2022/2023.
- Cost of any plumbing or electrical repairs carried out in the home during the year under review.
Acer Accountancy 