Specific terms for MTD VAT returns for Barristers
- StraightForward will contact the client within one week of the end of the VAT period (at the latest), requesting ‘information’ required for the return.
- If the client does not respond, preventing a timely VAT return, any warnings, consequences or penalties imposed by HMRC will be the responsibility of the client.
- The £400.00 p.a includes 4 VAT returns. £250.00 will be invoiced after the first return has been submitted (50% of fixed fee plus set up fee)
- £200.00 will be invoiced after the second return has been submitted.
- Alternatively the client will set up a standing order to StraightForward to be paid 7 days after each return has been submitted – four payments i.e £150, £100, £100, £100.
- Rates will be reviewed annually. It is anticipated that they will increase to reflect the changing economic climate, including increases in Quickbooks subscription charges.
- The proposed increase will be notified to the client at least 2 months prior to when the next affected VAT return falls due.
- The fixed fee is based upon a fair usage principle. It allows for a reasonable number of transactions of income and expenditure over a year (approx 800).
- Should this amount be notably exceeded, StraightForward reserves the right to review the fixed fee, prior to the annual review.
The fixed fee is for VAT returns only. Liaison with accountants, preparation of financial reports or additional bookkeeping can be provided by agreement. Fees may apply, either a further fixed fee or hourly rate.