ONLINE COMPANY ACCOUNTS - TERMS AND CONDITIONS



We are bound by the ethical guidelines of The Institute of Chartered Accountants in England and Wales, and accept instructions to act for you on the basis that we will act in accordance with those ethical guidelines.

In the context of these terms and conditions, 'engagement' means use of the My Online Accountant company accounting package.

1. Period of engagement

1.1 This engagement will commence from the date of registration, which covers any work performed before that date.


2. Our service to you

2.1 Details of our engagement are set out in the appendix. Unless a service is listed in the appendix, or included in a separate letter of engagement, you must assume that it will not be provided by us.


3. Our charges

3.1 Our charges are set out in the appendix to this letter.

3.2 If it is necessary to carry out work outside the responsibilities outlined in these terms it will involve additional charges.

3.3 Our terms relating to payment of amounts invoiced are strictly 14 days net. Interest may be charged on all overdue debts at a rate of 5%.


4. Limitation of Liability

4.1 The advice we give to you is for your sole use and does not constitute advice to any third party to whom you may communicate it.

4.2 We will provide the professional services outlined in these terms and conditions with reasonable care and skill. However, we will not be responsible for any losses, penalties, surcharges, interest or additional tax liabilities arising from the supply to you or others of incorrect or incomplete information, or from the failure by you or others to supply any appropriate information, or your failure to act on our advice or respond promptly to communications from us or the tax authorities.

4.3 Our liability to you, in connection to this engagement, for losses shall be limited to maximum multiple of 4 times the annual fee. If you wish to make a claim against us you must do so within 4 years.


5. Retention of records

5.1 During the course of our work we will collect information from you. We will return any original documents to you upon request. You should retain them for 6 years from the end of the relevant tax period. This period may be extended if the H.M. Revenue and Customs enquire in to an individualís tax return.

5.1 Though certain documents may be legally belong to the you, we intend to destroy correspondence and other papers that we store which are more than seven years old, other than documents that we consider to be of continuing significance. You must inform us by letter if you require retention of a particular document.

5.2 We may choose to hold these documents where possible in an electronic format. In this event we will ensure these documents are readily accessible should they be requested by yourself or other authorised individual.


6. Quality of service

6.1 We aim to provide a high quality of service at all times. If you would like to discuss with us how our service could be improved, or if you are dissatisfied with the service that you are receiving please let us know.

6.2 We undertake to look into any complaint carefully and promptly, and to do all we can to explain the position to you. If we do not answer your complaint to your satisfaction you may take up the matter with The Institute of Chartered Accountants in England and Wales.


7. Electronic Communication

7.1 As internet communications are capable of data corruption, we do not accept any responsibility for changes made to such communications after their despatch. For this reason it may be inappropriate to rely on advice contained in an email without obtaining written consent of it. All risks connected with sending personally sensitive information relating to you are borne by you and are not our responsibility. If you do not accept this risk, you should notify us in writing that email is not an acceptable means of communication.

7.2 Email maybe used to enable us to communicate with you. As with any other means of delivery this carries with it the risk of inadvertent misdirection or non-delivery. It is the responsibility of the recipient to carry out a virus check on any attachments received.


8. Applicable Law

8.1 These terms and conditions are and construed in accordance with English Law. The Courts of England will have exclusive jurisdiction in relation to any claim, dispute or difference concerning these terms and conditions and any matter arising from it. Each party irrevocably waives any right it may have to object to any action being brought in those courts, to claim that the action has been brought in an inappropriate forum, or to claim that those courts do not have jurisdiction.

8.2 All work performed is conducted using the current legislation according to the fiscal period. We cannot be held responsible for future development and changes in legislation.


9. Contracts (Rights of Third Parties) Act 1999

9.1 Persons who are not party to thsee terms and conditions shall have no rights, under the Contracts (Rights of Third Parties) Act 1999, to enforce any terms of this agreement. This clause does not affect any right or remedy of any persons which exists, or is available, otherwise than pursuant to that Act.

9.2 The work that is undertaken is designed for your use only and should not be distributed by you, to any other party, with our prior consent.


10. Money Laundering Regulations 2003

10.1 You also acknowledge that we are required under the Proceeds of Crime Act 2002 and Money Laundering Regulations 2003 to report, without prior reference to you or your representatives, if during the course of our work we become suspicious of money laundering or fraud.


11. Agreement of terms

11.1 Once these terms and conditions have been agreed, these will remain effective until replaced.


Appendix

Our services

We have agreed to provide the use of the My Online Accountant, online accounting package.

The use of the online accounting package includes, inter alia, the following as part of the basic package (correct at the date of registration):

(1) Balance sheet and current year P&L analysis;

(2) Quarterly P&L reporting;

(3) Statutory accounts preparation;

(4) Aged debtors/creditors;

(5) Statutory books and records;

(6) Email customer statements;

(7) VAT reporting;

Specific exclusions this engagement are as follows:

(1) Self-assessment tax returns;

(2) Corporation tax returns;

Our charges

We have agreed to provide the services listed above initially using fee band A.

Fee bands are subject to review annually and are also subject to ad hoc review at any other time depending on transaction volumes

Full details of fees, fee banding and band reviews can be found online at www.myonlineaccountant.co.uk