Terms of Service
Terms of Service
This document outlines the terms of service to be agreed upon between TaxPound (hereinafter referred to as We/Us/Accountant) and the Customer (hereinafter referred to as You/Client).
We are committed to providing best-in-class services to our customers. To maintain this standard, we adhere to strict service guidelines and timelines. This also requires mutual compliance with specific agreed terms. This document establishes the policy framework to standardize our service provisions, minimizing any potential confusion. By accepting the quote, you agree to these terms before availing of our services at the quoted price.
Please note that while this document outlines the terms of all services, only those you have availed and been invoiced for will be applicable to you.
Age Restriction
Electronic Communication
At TaxPound, we communicate with you via email or other electronic means. Your written response via electronic communication will be legally binding (e.g., approving a tax return for submission to HM Revenue & Customs).
Electronic communication carries risks such as non-receipt, delayed receipt, misdirection, data corruption, unauthorized alterations, tampering, and interception by third parties. It is your responsibility to perform virus checks on received attachments. We employ virus-scanning software to minimize risks but cannot guarantee complete security. We are not liable for damages caused by viruses, nor for communications that are corrupted, tampered with, or altered after dispatch.
If you intend to respond to an email, please verify its contents with the sender. While emails offer efficiency and cost savings, they also pose security risks. To mitigate these risks when sharing sensitive information, we offer a secure sharing service upon request, though this may impact speed and efficiency.
Data Protection (GDPR)
Ownership of Records
Anti-Money Laundering Legislation
All accountants must comply with UK regulations to prevent and report money laundering activities. Failure to comply carries legal consequences, including imprisonment.
Before providing services, we may require ‘satisfactory evidence’ of your identity as per HMRC’s ‘Customer Due Diligence’ guidelines under the UK Anti-Money Laundering and Terrorist Financing (MLTF) regulations. This may also be required after we have begun providing services.
If we suspect that your instructions relate to ‘criminal property,’ we are legally obligated to report it to the National Crime Agency (NCA) without informing you. We cannot act on your instructions without NCA’s consent. If NCA does not refuse consent within 7 working days, we may proceed. Otherwise, we must delay action for an additional 31 days.
‘Criminal property’ includes any assets derived from criminal activity, regardless of who committed the crime or how distant the property is from the original offense. If your property stems from another party’s criminal activity, we must report it.
An activity is ‘criminal’ if it constitutes a crime under UK law, no matter how minor. For instance, tax evasion is a criminal offense, but an honest mistake is not. We assume all discrepancies are mistakes unless evidence suggests otherwise.
Customer Due Diligence
HMRC-registered accountants must comply with Customer Due Diligence guidelines under AML regulations. Accordingly, we collect the following information about the ‘Person with Significant Control’:
- Full name
- A scanned copy of a valid driver’s license
- A scanned copy of a valid passport
- Proof of residential address
- Date of birth
We adhere to GDPR guidelines set by the Information Commissioner’s Office when storing and using this data.
Refund Policy
We strive to provide exceptional service, but under certain circumstances, you may request a refund:
- If the requested services fall outside the scope of professional conduct as defined by HMRC and regulatory bodies, we will process a refund with necessary deductions.
- If the refund request results from incorrect or incomplete information provided by you, we will deduct a charge to cover costs.
- If financial information has been shared, work has been performed, draft reports have been prepared or sent, up to 100% of the invoice value may be deducted to cover costs.
- Refunds will be issued via vouchers, credit to the original payment method, or settlement for future services. You will be informed of applicable deductions before the refund is processed.
Customer Feedback
List of Services
We offer the following services:
- Bookkeeping
- VAT Returns (Monthly/Quarterly/Annually)
- Payroll
- Annual Accounts & Corporation Tax Return (CT600) for Limited Companies
- LLP Annual Accounts & Tax Return (SA800)
- Personal Tax Return (SA100)
Bookkeeping
- Bookkeeping services will be provided periodically as per agreed terms.
- Generally, bookkeeping will be completed within 7 working days from the receipt of necessary information, such as bank statements.
- Unless otherwise agreed, bookkeeping will be conducted quarterly.
- We do not perform real-time or daily bookkeeping.
- Clients are responsible for maintaining physical proof of transactions.
- Additional costs will apply if physical documents are required.
VAT Returns
- VAT return services will be provided based on the VAT period (monthly/quarterly/annually).
- Customers must share relevant VAT records within 7 working days after the VAT period ends.
- We require 7 working days from receipt of complete information to finalize the return.
- Customers must distinguish between business and personal transactions.
- Records must be maintained for at least 6 years.
- Although we send filing reminders, customers should also enroll in HMRC’s free reminder service.
Payroll
- Payroll services are provided based on agreed periodic intervals (weekly/two-weekly/monthly)
- Clients must provide employee details, including NI numbers, addresses, pay details, pension deductions, and tax codes.
- All P45s and auto-enrollment pension scheme details must be shared promptly.
- Statutory payments such as sick pay and maternity leave require timely notification.
- Clients are responsible for disbursing employee salaries after payroll processing..
Annual Accounts & Corporation Tax Return (CT600)
- Companies must submit annual accounts per the Companies Act 2006 and Corporation Tax Act 2010.
- Directors are responsible for maintaining records of invoices, receipts, transactions, and financial statements.
- Clients must disclose all relevant expenditures, income sources, and supporting evidence.
