Terms of Service
This document confirms the basis on which we provide services to you so as to avoid any misunderstandings of our respective responsibilities.
- Throughout these Terms of Service, the term “we” refers to Abacus Jack Limited, Registered Company 10209209, and is used in the context of defining the services that Abacus Jack offers as Bookkeepers.
- The term “you” is used as reference to our customers as an entity and describes how customers engage with Abacus Jack Ltd.
- Both parties (we and you) agree to operate in accordance with our respective responsibilities, as set out within this Terms of Service.
- Our fees are subject to VAT, and are payable monthly by Direct Debit, unless agreed otherwise.
- Clients are free to cancel their subscription at any time, be giving 30 days notice.
- We are required by law to comply with Anti Money Laundering Regulations.
- As a client, all of your accounting records must be entered into your Abacus Jack Free Agent online account. We are unable to compile reports or accounts based on other systems of record, such as paper based records, or records maintained using other software applications.
- Clients on our Limited Company or Sole Trader packages must allow Abacus Jack to be your authorised agent for HMRC related activities.
Customer Service and Values
We are committed to providing a high standard of customer service and operate to the following standards and ethics
- Honesty - We will always act with honesty and integrity in everything we do for you.
- Clarity - We will always be clear about our costs, services, and what you can expect from us.
- Energy - We love what we do and we want this to be reflected in how we deal with our clients.
- Approachable – We will respond to, and try and help with any question or query in relation to your business. We genuinely want to make your business work. Where we are unable to help we will explain this and wherever possible offer you another route of escalation in respect to your query
If you have any ideas as to how our service 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.
Money Laundering Regulations
All bookkeepers and accountants must comply with 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.
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.
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.
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.
‘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.
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 contrary evidence.
Fees and Charges
1. Abacus Jack is VAT registered and as such VAT will be applied to all invoices at the prevailing rate.
2. Invoices for monthly services should be paid by Direct Debit, unless agreed otherwise in advance. Our monthly invoice cycle runs on the 1st of each month, with fees due collected by Direct Debit on the 6th of each month
3. Invoices for one off services should be paid electronically by BACS transfer or card payment.
4. Clients are free to change or cancel their subscription at any time.
a. Changes to a subscription can be actioned immediately and any differences in fees will come into effect from the next invoice date.
b. Customers cancelling their services with us are required to give us 30 days notice in writing, or by emailing email@example.com
6. At the end of the notice period, i.e. upon termination of a subscription, the responsibilities of both parties, as laid out within this Terms of Service will cease. Any client data residing on Abacus Jack computer systems will be made available via a spreadsheet export. Should a client reinstate their subscription, the original data will be re-instated.
7. In the event of non-payment of our fees for services rendered, Abacus Jack 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.
8. In the event of non-payment of our fees for a period of 30 days or more, from the date of invoice, Abacus Jack may terminate a subscription indefinitely or until payment is received.
9. We reserve the right to increase or decrease the cost of our services, we will provide clients with at least 30 days notice. The reason for price changes will always be explained, proportionate to the reason, and communicated in writing to all clients.
Nature of Services- Applicable to all clients
Abacus Jack Ltd is a bookkeeping company offering business start up services and advice, bookkeeping services, and accounting services (up to Micro Entity threshold). Should our clients require the services of a Chartered Accountancy, we will sub contract services to a Chartered Accountant within our trusted network.
Abacus Jack has partnered with Accountancy Software Provider Free Agent. Free Agent Bookkeeping software will be offered provided to every Abacus Jack monthly package customer. By signing up to Abacus Jack, you will be sent a Free Agent registration invitation by email, and completion this registration will subject the individual to the Terms of Service set out by Free Agent.
1. All of your business records and accounting records must be supplied electronically. We are unable to compile reports or accounts based on other systems of record, such as paper based records.
2. You are responsible for the maintenance and accuracy of the data and records which you maintain and provide to us
3. You must keep original records of receipts, and payments, even where these records have been entered electronically into bookkeeping software.
4. You must keep the original records of Bank Statements from all your business and personal accounts, even where these records are also reflected electronically in your bookkeeping software.
5. You have undertaken to make available to us, as and when required, all the accounting records and related financial information necessary for the services we provide to you. You will make full disclosure to us of all relevant information. Any accounts and tax returns which we complete for you, need to be approved by you before we are able to submit data to HMRC.
6. You are responsible for ensuring that, to the best of your knowledge and belief, financial information, whether used by the business or for the accounts, is reliable. You are also responsible for ensuring that the activities of the business are conducted honestly and that its assets are safeguarded, and for establishing arrangements designed to deter fraudulent or other dishonest conduct and to detect any that occur.
7. You are responsible for ensuring that the business complies with the laws and regulations applicable to its activities, and for establishing arrangements designed to prevent any non-compliance with laws and regulations and to detect any that occur.
8. You must allow Abacus Jack to be your authorised agent for HMRC related activities. HMRC agent authorisation allows us to deal with HRMC on your behalf and is essential in enabling us to register, file, or deal with any of your tax / regulatory affairs. We will provide the necessary details and forms to allow us to be set up as your authorised agents.
9. We will use reasonable skill and care in the preparation of your accounting records, but will not be responsible for errors arising from incorrect information supplied by you. Abacus Jack Ltd is a bookkeeping company not a Chartered Accountancy. As such, where the law requires the use of a chartered accountant / accountancy we will sub contract our services to one of our trusted network of Chartered Accountants.
10. We will report, with any variations that we consider may be necessary, that in accordance with your instructions and in order to assist you to fulfil your responsibilities, we have compiled without carrying out an audit, the accounts from your accounting records and data.
11. Payroll Services: Completion of your business payroll is subject to the following:
- Personal details of all employees (i.e. name, NI number, home address, and the data required by HMRC to file payroll returns online which is known as Real Time Information (RTI).
- All P45s, or equivalent, received by you.
- If any casual labour is taken on, you are required to operate P46, or equivalent, procedures.
- Completed forms should be passed to us for processing.
- Notification within two weeks of any employee who is ill for four or more calendar days, including weekends, bank holidays etc. This will enable us to operate statutory sick pay for you.
- Notification of any employee who adopts, becomes pregnant or whose partner adopts or becomes pregnant. This will enable us to operate statutory adoption, maternity and paternity pay.
- Details of any money or benefits made available to employees by you or by a third party through you.
- Hours worked, rates of pay, bonuses, the amount of any pension deductions (Automatic Enrolment) etc.
- Notification of new employees engaged by you or leaving your employment.
- Any notice of coding received by you from HRMC.
- In respect of the “Automatic Enrollment” of pensions you will need to seek the advice of a person who is regulated to provide pension’s advice. We will assist you in processing your payroll based on the pension deductions that you provide.
- The end of period payroll returns must be received by HM Revenue & Customs on or before pay day otherwise significant penalties may be levied. There may also be interest payable Income Tax and National Insurance contributions payments, due each month or quarter are late or less than indicated by the return.
- Only the information provided for the payroll will be reported to HMRC.