ULTRA TAX LTD: TERMS & CONDITIONS
Terms and Conditions of Ultra Tax Ltd's Accountancy Services
Updated: 01/10/2023
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1. Introduction
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These Terms and Conditions ("Agreement") constitute the legally binding contract that governs the provision of services by Ultra Tax Ltd ("Ultra Tax," "we," or "us") to its clients ("Client" or "you"). By engaging our services, you explicitly agree to abide by the following detailed terms. If you disagree with any part of these terms, we kindly request that you refrain from using our services.
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2. Services
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Ultra Tax Ltd is a professional Accounting Firm and financial services provider, specialising in a wide range of services, including but not limited to: Personal and business Tax preparation. Comprehensive bookkeeping services. Financial consulting for individuals and businesses. VAT Returns and compliance. Efficient payroll management. PAYE Tax Rebate preparation. Sales Ledger control. Purchase Ledger control.
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3. Client Engagement
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To commence an engagement with Ultra Tax Ltd, it is imperative to establish a formal engagement agreement. This agreement may be established orally or in writing and serves as the foundational document that explicitly delineates: The exact scope of services to be rendered. A transparent fee structure, specifying rates and payment terms. Specific terms and conditions that pertain directly to your unique engagement. For clients of varying legal structures, including limited companies, sole traders, or partnerships, our engagement agreements apply uniformly, subject to distinct fee structures tailored to each circumstance.
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4. Tax Rebates
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With respect to Tax Rebates, it is essential to note that once a rebate application is submitted to HM Revenue and Customs (HMRC), the processing and potential delays resulting from security checks or other verification processes fall under the jurisdiction of HMRC. Ultra Tax Ltd shall not be held accountable for these delays, which are beyond our control. Our commitment, however, remains unwavering, and we shall diligently pursue your rebate in accordance with HMRC's stipulated timelines. Additionally, we pledge to keep you consistently informed of the progress throughout the process.
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5. Tax Returns
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Upon the collection of all requisite information and documentation necessary to initiate the process of preparing your tax returns, clients will receive a formal email disclaimer from Ultra Tax Ltd. It is of utmost importance that clients express their desire to proceed or withhold consent within 24 hours of receiving this notification. After this 24-hour period elapses, the associated fees become mandatory and must be settled within 14 days of receiving the corresponding invoice (unless we are told to not continue within the 24 hour window). Failure to adhere to this payment schedule will result in the imposition of late payment fees.
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6. Limited Companies
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Clients operating as limited companies are required to provide formal written acceptance, communicated via email, that clearly outlines the stipulated payment terms and details of the services they are engaging with Ultra Tax Ltd. Payment expectations for limited companies are established as a monthly payment at the commencement of each month, covering services to be provided within that month. It is essential to acknowledge that should a client fail to remit the agreed-upon payment, we are under no obligation to continue providing services for that month.
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7. Invoices and Late Payment Fees
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Invoices issued by Ultra Tax Ltd are subject to a 14-day payment window, in accordance with our rigorous credit control policy.
To emphasise the importance of timely payment, we have instituted a structured late payment fee system:
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Instantly late: A penalty of 5% of the invoice value will be levied and added to the outstanding fees.
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7 Days Late: The late payment penalty increases to 10% of the invoice value added to outstanding fees.
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14 Days Late: A late payment penalty of 15% of the invoice value is added to outstanding fees.
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21 Days Late: The late payment penalty escalates to 20% of the invoice value added to outstanding fees.
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28 Days Late: A late payment penalty of 25% of the invoice value is added to outstanding fees.
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Should the payment timeframe extend beyond four weeks, the invoice automatically falls into the next billing cycle, and fees for both months must be settled concurrently. Please be aware that we retain the right to initiate legal action to recover outstanding payments and have the discretion to terminate the client's engagement in cases of non-compliance with payment obligations.
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8. Confidentiality
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Ultra Tax Ltd holds a steadfast commitment to preserving the strictest confidentiality regarding all sensitive financial information shared by clients. Under no circumstances will we divulge such information to third parties without obtaining your explicit consent, unless compelled by legal requirements.
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9. Professional Responsibility
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While we make every effort to ensure the accuracy and reliability of our services, it is essential to acknowledge that we cannot unconditionally guarantee the accuracy, completeness, or timeliness of the information provided. The quality of our services is intricately linked to the accuracy and completeness of the information and documentation furnished by you, and you bear the ultimate responsibility for ensuring its veracity.
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10. Client Responsibilities
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By engaging Ultra Tax Ltd, clients assume the responsibility of providing comprehensive and accurate information and documents deemed necessary for the provision of our services. Furthermore, it is your responsibility to conduct a thorough review of all work prepared by us and to promptly notify us of any discrepancies or concerns that come to your attention.
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11. Intellectual Property
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We emphasise that all intellectual property rights associated with the services and deliverables provided by Ultra Tax Ltd are exclusively retained by our firm. Without obtaining our prior written consent, you are expressly prohibited from utilising, copying, reproducing, modifying, distributing, or displaying any component of our services or deliverables.
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12. Limitation of Liability
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Ultra Tax Ltd is committed to exercising reasonable care and skill in delivering our services. However, it is essential to recognise that we cannot accept liability for any direct, indirect, incidental, consequential, or special damages that may arise in connection with your use of our services or reliance on the information provided.
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13. Indemnification
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By engaging the services of Ultra Tax Ltd, you hereby agree to indemnify and hold harmless Ultra Tax Ltd, its directors, employees, agents, and affiliates from any claims, losses, damages, liabilities, costs, and expenses (including attorney's fees) arising out of or related to your utilisation of our services or any violation of the provisions contained within these Terms and Conditions.
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14. Termination
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The engagement agreement may be terminated at any time by either party, provided written notice is provided to the other party. Upon termination, you shall be responsible for all accrued fees and expenses up to the date of termination.
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15. Governing Law and Jurisdiction
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These Terms and Conditions shall be subject to and interpreted in accordance with the laws of HM Revenue and Customs, as well as the relevant governing bodies within the accounting profession. All disputes arising from or in connection with these terms shall be subject to the exclusive jurisdiction of the courts.
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16. Modifications
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Ultra Tax Ltd retains the right to modify these Terms and Conditions at its discretion, without prior notification. It is incumbent upon you, as the client, to periodically review these terms. By continuing to avail yourself of our services, you implicitly accept any modifications implemented within these terms.
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17. Entire Agreement
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These Terms and Conditions constitute the comprehensive and exclusive agreement between you and Ultra Tax Ltd, superseding all prior agreements, understandings, or representations, whether verbal or written.
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18. Contact Information
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Should you have any questions, concerns, or require clarification regarding any aspect of these Terms and Conditions, please do not hesitate to contact us at 0191 341 0142 or via email at enquiries@ultratax.co.uk