We wish to develop a relationship with our clients that is clear and imposes the minimum of barriers to free and regular communication. This unrestricted ability to communicate is critical to our commitment to provide an innovative and proactive service. We recognise that this cannot be achieved unless there is a clear understanding of the fee arrangements between us. It is with this objective in mind that we have produced these guidelines.
1. Fees
We charge fees in one of three ways:
- Fixed Fee or Fee Range - based on a specific assignment and agreed in advance.
We realize the importance for clients of knowing where they stand with fees and recognise the benefit in our own efficiency of working within fixed parameters. It is our policy to agree fixed fees for assignments wherever possible. This will certainly be the case for many compliance assignments (tax computations and returns) and any other assignments where the scope of the work and the time commitment can be reasonably estimated.
Where we work on a fixed fee basis or within a fixed fee range, this will not change unless the nature or scope of the assignment changes before or during the course of our work and then only after proper consultation with our client. It is important that our clients provide us with what we need in order to deliver this service. A list of requirements will be agreed with you prior to commencement of the assignment.
- By Time - calculated by reference to the seniority of the personnel involved and the relative complexity of the service provided.
We work on time -based fees where the nature of the assignment renders it inappropriate for a fixed fee agreement. When working on an hourly rate basis however we will provide an estimate of the anticipated time together with details of our current hourly rates, when requested to do so.
We also keep our clients regularly appraised of the time incurred during the currency of the assignment
- Result or Contingency based - normally a mixture of fixed and variable where the variable element is dependent on the successful outcome of a particular assignment.
We are unable to undertake work on a contingency basis where the nature of the assignment requires us to give an opinion. In certain circumstances however where different aspects of an assignment are handled by separate departments under separate letters of engagement then a contingency fee arrangement for one assignment may be appropriate.
We will normally undertake work on a result or contingency basis in transaction - related work i.e. the raising of finance, or the sale of a business. In these cases the precise arrangement will be agreed in advance with our client including both the contingency and fixed element of our fees.
In all cases fees are quoted net of VAT and disbursements.
2. Expenses and Disbursements
Unless otherwise agreed we will normally recharge the following expenses as and when incurred:
- couriers and messengers
- travel and accommodation
- document management
- telephone, fax, e-mailand postage
- counsel and other expert fees as required
- statutory disbursements (change of name, filing fees etc)
We do not charge for secretarial and administration services (other than in exceptional circumstances and with clients agreement) or client entertaining.
3. Invoicing
Unless otherwise agreed we will raise monthly invoices based either on time incurred, or by agreed amounts in accordance with our fee agreement.
It is our policy on request to provide a breakdown of charges with our invoices. A more detailed printout of time spent by individual personnel is always available in respect of time-based charges. Our fees are payable on delivery of an invoice unless otherwise agreed.
4. Fee Proposals
Our fee proposals will deal clearly with the following matters:
- the basis of fee charging (as in 1 -3 above)
- the amount or range of fee where possible or an estimate thereof
- the precise terms of any contingency or result -based billing arrangement
- the nature and scope of the assignment
- an estimate of the time scale involved where possible and appropriate
- the frequency of billing and our credit terms
- your responsibilities and obligations as our client in relation to any fee arrangement. In particular the delivery of information in agreed formats and within agreed timescales prior to the commencement of any assignment.
5. Disputes
We have an established disputes procedure which is available to any client. Clients are urged to seek resolution of fee disputes directly with the engagement partner responsible for the particular assignment.
In the absence of a satisfactory response to a fee complaint clients should contact the Association of Chartered Certified Accountants
6. Engagement Letter
All clients will be issued with an Engagement Letter within 14 days of being advised that there are no professional reasons why we cannot act. This letter will set out the basis on which we are to act and must be signed and returned within 14 days of receipt. It will be reviewed annually thereafter.
Want to find out more?
If you would like more information or would like to speak to us direct then call us on 0345 387 0104. Or if you would prefer, ask us a question online.