Vantage Accounting Terms and Conditions

Unless otherwise stated:

The term ‘Vantage’ or ‘we’ shall refer to Vantage Accounting Services Limited of 1 Cedar Office Park, Cobham Road, Wimborne, BH21 7SB or any other address from which the company may operate from time to time, otherwise known as Vantage.
The term ‘Client(s)’ shall refer to an individual or group of individuals contracting with Vantage for the provision of the services stated below.
The term ‘Fees’ or ‘Fees for Services Rendered’ shall refer to the fees payable for the provision of the services stated below.
The term ‘Package’ shall refer to the specific package of benefits subscribed to by each client in accordance with their agreed fee.
The term ‘Package Extra(s)’ shall refer to specific benefits outside of the package to which a client is subscribed.

The following terms and conditions form part of the explicit terms of the contract for services between Vantage and its clients.

1. Nature of Services
1.1. Vantage contracts to provide Fixed Fee Accountancy and Taxation Services as agreed in our initial correspondence. If you require a list of these services they can be requested at any time.

2. Packages
2.1. Each client shall be subscribed to a specific service package for the duration of their contract for services with Vantage.
2.2. Each package shall include separate specific benefits which may change from time to time at the discretion of Vantage.
2.3. Packages shall include a fixed monthly or yearly fee and these prices may change from time to time at the discretion of Vantage.
2.4. Vantage shall endeavour to inform its clients about any changes to package specific benefits or fees.
2.5. By default, all clients who have not indicated otherwise shall be deemed to have subscribed to the lowest priced of any of the packages currently offered by Vantage.
2.6. Insurance policies for packages including insurance benefits will only be valid for the months for which a client has already paid the full fee for the package subscribed to.
2.7. Insurance benefits in certain packages are provided by third party companies Hiscox and Abbey Tax. These third parties may change without notice.
2.8. Clients who subscribe to packages including insurance benefits agree that their personal information may be provided to the third party for the purposes of providing the client with the insurance benefit.
2.9. Vantage accepts no liability for the services of third parties provided as insurance benefits to a specific package or for any communications issued by the third party.

3. Package Extras
3.1. Clients subscribed to a specific package may choose to subscribe to additional benefits or ‘package extras’ which fall under other packages, for a fixed monthly fee.
3.2. These package extras shall only be valid for the months for which the package extra has been paid.
3.3. Claims under insurance package extras will only be valid if they fall within a month for which a client has already paid.
3.4. Package extras are provided by third party companies Hiscox and Abbey Tax. These third parties may change without notice.
3.5. Clients who subscribe to package extras agree that their personal information may be provided to the third party for the purposes of providing the client with the package extra benefit.
3.6. Vantage accepts no liability for the services of third parties provided as package extras or for any communications issued by the third party.

4. Quarterly Management Accounts
4.1. Whether subscribed to as part of a package or as a package extra, the accounts for ‘Quarterly Management Accounts’ will be prepared in alignment to the VAT quarter for the client.

5. Anti-Money Laundering Legislation
5.1. All accountants must comply with onerous duties imposed by the Proceeds of Crime Act 2002, the Terrorism Act 2000 and the Money Laundering Regulations 2007 (the “Anti Money Laundering Legislation”), which are intended to inhibit the activities of terrorists and other criminals by denying them access to technical expertise. If we fail to perform these duties, we risk imprisonment.
5.2. Before we accept your instructions, we may need to obtain ‘satisfactory evidence’ to confirm your identity. In certain circumstances, we may need to obtain evidence confirming the identities of third parties, the source of any funds or other property, the purpose of any instructions or any other matter. We may also need to obtain such evidence after we have begun to act on your instructions.
5.3. We assume that our clients are honest and law abiding. However, if at any time, there appear to be grounds to suspect (even if we do not actually suspect) that your instructions relate to ‘criminal property’, we are obliged to make a report to the National Crime Agency (“NCA”), but we are prohibited from telling you that we have done so.
5.4. In such circumstances, we must not act on your instructions without consent from NCA. If NCA do not refuse consent within 7 working days we may continue to act. If NCA issue a refusal within that time, we must not act for a further 31 days from the date of the refusal.
5.5. ‘Criminal property’ is property in any legal form, whether money, real property, rights or any benefit derived from criminal activity. It does not matter who carried out the criminal activity or how removed the property is from the original crime. Even if you are honest in your dealings, if your property represents a benefit from someone else’s crime, we must still make a report.
5.6. Activity is considered ‘criminal’ if it is a crime under UK law, no matter how trivial For example, tax evasion is a criminal offence but an honest mistake is not. We will assume that all discrepancies are mistakes unless there is evidence to the contrary.

6. Client Monies
6.1. We may, from time to time, hold money on your behalf. Such money will be held in trust in a client bank account, which is segregated from the firm’s funds.
6.2. If the total sum of money held on your behalf exceeds £2,000 for a period of more than 2 months, or such sum is likely to be held for more than 2 months, then the money will be placed in an interest-bearing client bank account. All interest earned on such money will be paid to you. Subject to any tax legislation, interest will be paid gross.
6.3. If there are grounds to suspect (even if we do not actually suspect) that any monies held in a client account is derived directly or indirectly from any criminal activity whatsoever, we may not release such monies until we receive permission to do so from NCA.

7. Fees for Services Rendered
7.1. Our fees are dependent on the specific package chosen by the client. Unless otherwise agreed, these fees are to be paid by the client by 12 monthly instalments, due by the first calendar day of every month.
7.2. In the event that work has to be carried out for a client, which Vantage deems to be in excess of the services listed in paragraph 1 above or their set package, Vantage reserves the right to invoice the client for that additional amount.
7.3. Such additional fees, as detailed in 7.2 above, will be paid by the client within 30 calendar days from the date of invoice.
7.4. Interest will be charged on all overdue debts at the rate stated on the invoice, which is 8% above the Bank of England base rate.
7.5. In the event that the company is unable to meet its liability in respect of our outstanding fees as and when they fall due then the company’s directors would be personally, jointly and severally liable in respect of our outstanding fees.

8. Commissions or other benefits
8.1. In certain circumstances, commissions or other benefits may become payable to us in respect of introductions to other professionals or transactions we may arrange for you.

9. Ownership of records
9.1. In the event of non-payment of our fees for services rendered, we may exercise a particular right of lien over the books and records in our possession and withhold the documents until such time as payment of our invoice is received in full.

10. File destruction
10.1. Whilst certain documents may legally belong to you, unless you instruct us in writing to the contrary, Vantage shall destroy correspondence and other papers that we store which are more than seven years old, other than documents which we think may be of continuing significance.
10.2. If the client requires the retention of any document, the client must notify Vantage of that fact in writing.
10.3. Unless instructed otherwise in writing by the client, Vantage shall destroy all original documents immediately upon scanning to our systems.

11. Customer Service Policy
11.1. We are committed to providing a high standard of customer service. If you have any ideas as to how our service to you could be improved, or if you are dissatisfied with the service you are receiving, please let us know. In the event that you have a complaint, we will look into this carefully and promptly and do all we can to explain the position to you or address your concerns.

12. Third parties
12.1. All accounts, statements and reports prepared by Vantage are for your exclusive use within your business or to meet specific statutory responsibilities. They should not be divulged to any other party without our prior consent.
12.2. No third party shall acquire any rights pursuant to our agreement to provide professional services.

13. Applicable law
13.1. This engagement letter is governed by, and construed in accordance with, the law of England and Wales. The Courts of England and Wales will have exclusive jurisdiction in relation to any claim, dispute or difference concerning this these terms and conditions and any matter arising from them. 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.

14. Disclaimer
14.1. We will not be liable for any loss suffered by you, the client, or any third party as a result of our compliance with the Anti-Money Laundering Legislation or any UK law or at all
14.2. We will provide our 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 by you or others of incorrect or incomplete information, or your or others’ failure to supply any appropriate information or your failure to act on our advice or respond promptly to communications from us or the tax authorities.

15. Agreement of terms
15.1. These terms and conditions will remain effective from the date of receipt until it is replaced or terminated. Either party may vary or terminate our authority to act on your behalf at any time without penalty. Notice of termination must be given in writing.
15.2. From time to time we may want to send you information about our services by post, telephone, email or SMS. By accepting these terms and conditions you are agreeing to us contacting you. If at any time you wish to opt out of any such communications please contact us in writing at or by telephoning us on 01962 820375.