[FirmName]

SCHEDULE OF SERVICES

This schedule should be read in conjunction with the engagement letter and the standard terms and conditions.

LIMITED COMPANIES

Recurring compliance work 

We will prepare the company’s accounts and corporate tax annual self assessment (CTSA) return. After obtaining the approval and signature of an authorised nominated director, we will submit them to Companies House and HM Revenue & Customs (HMRC).

We will prepare the corporation tax computation and supporting schedules required for preparation of the company tax return from accounts, information and explanations provided to us on your behalf. We are not going to audit or investigate the accuracy or completeness of the information supplied but will rely on it being accurate and complete.

We will use appropriate software to apply iXBRL tags to items in the accounts and tax computation as we consider appropriate for the purposes of submission of the accounts and tax computation to HMRC.

We will, to the extent we consider necessary, manually amend or apply iXBRL tags where the software has not applied automatic tagging or where we consider any automatic tagging to have been inappropriate.

We will not accept liability for any financial penalty or loss or other damage arising from any rejection of the iXBRL accounts by HMRC or otherwise as a result of incorrect or inappropriate tagging.

We will tell you, on the basis of the information supplied, and applying generally accepted accounting principles, how much tax the company should pay and when. If appropriate, we will initiate repayment claims when tax has been overpaid. We will advise on the interest and penalty implications if corporation tax is paid late.

We will inform you if instalment payments of corporation tax are due for an accounting period and the dates they are payable. We will calculate the quarterly instalments which should be made on the basis of information supplied by you by the date agreed.

We will advise you as to possible tax return related claims and elections arising from information supplied by you. Where instructed by you we will make such claims and elections in the form and manner required by HMRC.

Ad hoc and advisory work

Where you have instructed us to do so, we will provide such other taxation advisory and ad hoc services as may be agreed between us from time to time. These may be the subject of a separate engagement letter at our option. Where appropriate we will discuss and agree an additional fee for such work when it is commissioned by you. Examples of such work include:

• Advising you when corporation tax is due on loans by the company to directors or shareholders or their associates, and calculating the payments due or the amount repayable when the loans are repaid.
• Dealing with any enquiry opened into the company tax return by HMRC.
• Preparing any amended returns which may be required and corresponding with HMRC as necessary.

Where specialist advice is required on occasion we may need to seek this from or refer you to appropriate specialists.

Changes in the law, practice or public policy

We will not accept responsibility if you act on advice given by us on an earlier occasion without first confirming with us that the advice is still valid in the light of any change in the law, HMRC practice, public policy or your circumstances.

We will accept no liability for losses arising from changes in the law, practice or policy or the interpretation thereof that are first published after the date on which the advice is given.

Your responsibilities

The Directors, on behalf of the company, are legally responsible for:

• Ensuring that the CTSA return (including tagging) is correct and complete.
• Filing any returns by the due date.
• Making payment of tax on time.

Failure to do this may lead to automatic penalties, surcharge and/or interest.
The signatory to the return cannot delegate this legal responsibility to others. The signatory agrees to check that returns we have prepared for the company are complete before he/she approves and signs them

To enable us to carry out our work the Directors agree:

• In the event that we do not draw them up, to provide us with approved accounts prepared by you or by others in an iXBRL format. In either circumstance, you accept full responsibility for the existence, accuracy, consistency and completeness of iXBRL tagging within the accounts. We will not carry out any procedures to check the existence, accuracy, consistency and completeness of iXBRL tagging of accounts provided to us by you or others.
• That all returns are to made on the basis of full disclosure of all sources of income, charges, allowances and capital transactions.
• To provide all information necessary for dealing with the company’s affairs: we will rely on the information being true, correct and complete and will not audit the information or those documents.
• and hereby authorise us to approach such third parties as may be appropriate for information that we consider necessary to deal with the company’s taxation affairs.
• To provide us with information in sufficient time for the company’s CTSA return to be completed.
• To provide information on matters affecting the company’s tax liability for the accounting period in respect of which instalments are due at least four weeks before the due date of each instalment. This information should include details of trading profits and other taxable activities up to the date the information is provided, together with estimates to the end of the accounting period; and
• To provide us with information on advances or loans made to directors, shareholders or their associates during an accounting period and any repayments made or write offs authorised at the latest within three months of the end of the relevant accounting period.

The Directors will keep us informed of material changes in circumstances that could affect the tax liabilities of the company. If the Directors are unsure whether the change is material or not you must still let us know so that we can assess the significance.

You will forward to us HMRC statements of account, copies of notices of assessment, letters and other communications received from HMRC by you in time to enable us to deal with them as may be necessary within the statutory time limits. Although HMRC have the authority to communicate with us when form 64-8 has been signed and submitted it is essential that you let us have copies of any correspondence received because HMRC are not obliged to send us copies of all communications issued to you.

The work carried out within this engagement will be in respect of the company’s tax affairs. Any work to be carried out for the directors on a personal basis will be set out in a separate letter of engagement.

You are responsible for monitoring the company’s monthly and rolling annual turnover to establish whether it is liable to register for VAT if it is not already registered. If you do not understand what you need to do in relation to your VAT position, please ask us. If the rolling annual turnover exceeds the VAT registration threshold, and you wish us to assist in notifying HMRC of its liability to be VAT registered we will be pleased to assist in the VAT registration process. You should notify us of your instructions to assist in the VAT registration in good time to enable a VAT registration form to be submitted within the time limit of one month following the month in which the VAT registration threshold in force at that time was exceeded. We will not be responsible if you fail to notify us in time and incur a late registration penalty as a result.

Our services as set out above are subject to the limitations on our liability set out in the engagement letter and in paragraph 18 of our standard terms and conditions. These are important provisions that you should read and consider carefully.

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