Fee Policy
Our fee policy is formulated to ensure that the needs of the clients are considered first. Therefore, the main objective of this fee policy is to provide a flexible payment plan for our clients to suit their business needs as well as their budget.
Therefore, we have three fee options for prospective clients. You can discuss these options with us, so that we can advise you of the most appropriate scheme to suit your needs.
01. The discounted fixed fee option (Recommended for start up businesses)
For majority of start up businesses, we offer a discounted fixed fee for the first year. If you are offered a discounted fixed fee, you will be required to make the payments in monthly standing orders from the point
of joining us as our client. The payments will continue throughout the year. Making payments on a monthly basis will ensure that we carry on acting as your agent for HMRC, Companies House registrations, correspondence and all related correspondences with you.
Once the accounts are completed for the financial year, we will raise the invoice for any outstanding amount (if there is any) for that particular accounting year. The fee will be reviewed on a yearly basis for each accounting year.
02. Fee based on our charge out rates
If you choose to be invoiced under this method, your fees will be charged based on our standard charge out rates and you will be billed monthly and will be expected to settle the invoice within seven working days.
Therefore, if you are interested in this method of billing, please do let us know so that we can inform you of our charge out rates for different staff grades for the requested services.
03. Fee based on a percentage
Under this option, our fee will be based on the amount of money that we will save for you otherwise paid as tax to HMRC. We will charge a certain percentage of the savings as our fee. We will inform you in advance of this percentage before we undertake any work. This fee option applies especially to cases such as tax planning, tax investigations and tax refunds etc.
Notes
- Our fees are subject to an annual review in line with the rate of inflation, your business circumstances and the market conditions present at that time.
- At the review, we will let you know of any increase to the fee for the next accounting year.
- Once an agreement is reached for the new fee, a new engagement letter will be signed incorporating the changes.
- Offering a discount is a decision which is made at the sole discretion of the KVS management.