Fees and Payment Terms

Our approach – key points

1. Our approach to fees is that we are fair, transparent and consistent in how we apply our fees across our client base. We do this by displaying our fee structure on our website and by providing a detailed breakdown of fees in all of our engagement letters.
2. 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 we provide, as well as the level of risk we assume by undertaking the work.
3. Our fee structure for monthly accounting packages is modular, such that if your business grows and you need us to provide more services, our fee will increase accordingly. Similarly, if you no longer need us to provide certain services, our fee for that element of the work will be removed. We have found this approach works especially well for startups, because they only pay for services as and when they are required and helps them to plan for fee changes. 
4. We would always look to agree any fee adjustments with you, and we never assume or account for any fee adjustment without first seeking your agreement. This ensures you never face any unexpected fee changes.
5. We typically pay for Xero software on behalf of our clients, and then recharge this back to you at cost. This enables you to benefit from the bulk discount that we obtain from Xero due to our partner status. We typically provide Dext software and Brightpay (payroll) software free of charge to our clients, but other software add-ons are normally paid for by the client. 
6. We will regularly review the service package we have agreed with the services you require and seek your agreement to any necessary adjustments to your fees.
7. We also review the fees for our service packages to reflect inflation and will be in touch to agree any related fee increases we feel appropriate to pass on to clients.
8. We normally allow a little leeway when a client’s needs exceed the terms of their service package. For example, if you were to exceed the monthly transaction limit or employee payroll limit, this would not result in an immediate fee adjustment. However, if your business is growing such that your current package will no longer be appropriate, we would seek your agreement to any necessary adjustments to your fees.

Our approach – further details

9. Should we provide you with an estimate of our fees for any specific work, the estimate will not be contractually binding unless we explicitly state that will be the case.
10. We may indicate a fixed fee for the provision of specific services or an indicative range of fees for an assignment. It is not our practice to identify fixed fees for more than a year ahead as such fee quotes need to be reviewed in the light of events. If it becomes apparent to us, due to unforeseen circumstances, that a fee quote is inadequate, we reserve the right to notify you of a revised figure or range and to seek your agreement thereto.
11. In some cases, you may be entitled to assistance with your professional fees, particularly in relation to any investigation into your tax affairs by HMRC. Assistance may be provided through insurance policies you hold or via membership of a professional or trade body. Other than where such insurance was arranged through us, you will need to advise us of any such insurance cover you have. You will remain liable for our fees regardless of whether all or part are liable to be paid by your insurers.
12. Our accounting packages are billed monthly and our invoices will be due for payment within 7 days of issue. Tax advisory services are billed with a 50% deposit up-front with the remainder on completion. Our fees are exclusive of VAT which will be added where it is chargeable. Any disbursements we incur on your behalf, and expenses incurred while carrying out our work for you, will be added to our invoices where appropriate.
13. Unless otherwise agreed to the contrary, our fees do not include the costs of any third party, counsel or other professional fees. If these costs are incurred to fulfil our engagement, such necessary additional charges may be payable by you.
14. For our accounting packages it is normal practice to ask clients to pay by monthly direct debit.
15. We reserve the right to charge interest on late paid invoices at the rate of 8% above bank base rates under the Late Payment of Commercial Debts (Interest) Act 1998. We also reserve the right to suspend our services or to cease to act for you, having given written notice, if payment of any fees is unduly delayed. We intend to exercise these rights only if it is fair and reasonable to do so.
16. If you do not accept that an invoiced fee is fair and reasonable, you must notify us within 21 days of receipt, failing which, you will be deemed to have accepted that payment is due.
17. If a client company, trust or other entity is unable or unwilling to settle our fees, we reserve the right to seek payment from the individual (or parent company) giving us instructions on behalf of the client, and we shall be entitled to enforce any sums due against the group company or individual nominated to act for you.