Northern Accountants: Client Charter

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accountants are the same. Some are very different. Welcome to the Northern Accountants way of doing things

all

Welcome

Welcome to a little intro into how we do things at Northern Accountants.

Everything we do at NA is built around the desire to deliver industry leading service, but doing things our way. Because ultimately, we feel this is what makes the difference. The success of our partnership is based on speed, access, and by creating positive working environments. The following, hopefully, will show you how we achieve this...

#TeamNA

Our culture is so important to us. In fact, when we introduced our values and made ‘how we do things’ our top priority, this was definitely one of the defining points in our business. Not only do our values guide our team, but they also intrinsically define how we interact as a business - both within our team, and also with you, our clients.

Support

We are here for you whenever you need us. You are experts at what you do, we are experts at what we do, and our team is on hand to support you every step of the way. Don’t be afraid to ask questions or admit you don’t understand something, it’s what we are here for.

• Got stuck on Xero?

• Question about your accounts?

• Want to know how much tax you owe?

• We have asked you to do something, but you’re not quite sure what we mean?

• HMRC’s correspondence confusing you?

• Need specialist support with a business matter?

• Need advice on who to talk to?

The list goes on, but whatever your questions, we are here to help!

Enjoy

Strange one for your Accountant? Not at NA, because we value relationships and we want all our interactions to be both highly informative, and also an enjoyable experience. We are pretty sure that, as soon as you start working with the team, you will realise that we have a very distinctive culture.

Commitment

‘Do What We Say’ is a really important concept for us, and we work hard to deliver on what we say we’ll do, and when we say we’ll do it. This might be something as simple as sending a document out on time, or as big as transforming your business. If we say we are going to do it - we are going to do it!

Challenge

We want to continually improve, because if we get better, your experience will improve too. In an ever-changing world and industry, it is really important to keep moving forward. So be warned, as an NA Client, we will challenge you too! This may be to maximise the potential of your business, or to work more efficiently to enable us to be the best we can be for you.

Inspire

It is really important that we are brilliant at what we do. It drives us to be better, and it drives all our team to be the best they can be. We recognise that everyone has their own unique ways they can inspire those around them and we celebrate that.

How We Work

Our Key Principles

1. Intensive Onboarding set up

We aim to onboard clients as quickly as possible in order for you to benefit from the insights we are able to provide. In order to do this, there is an initial period during which we establish your accounts and processes. There is quite a significant amount of work to do at this point:

• Confirm 55 pieces of personal and company information

• Get information from your previous accountant

• Set you up on all our internal systems

• Set up your new payroll

• Register with Companies House and HMRC

• Set up all relevant software

• Analyse your accounts and identify any issues that need to be addressed

• Plan your delivery

• Software training

This is why it is so important for you to work closely with our onboarding team, who will work with you at every step of the way to support you in the transition to the new and improved ‘NA way of doing things’!. They have tight deadlines to work to, but those demands are deliberate, as we want you to see the full benefit of working with NA as soon as possible.

2. Proactive chase of information

We should warn you now, we are going to need A LOT of information from you! We do this for two main reasons.

Firstly, when we have everything we need you can focus on your business and we can act on your behalf, taking the stresses and strains of your accounts away from you.

Secondly, once we have access to your accounts, we are able to deliver the financial information that will make a difference to you, at significantly greater speed.

3. Access Access Access

Access is crucial for us to deliver the service we want you to have. When we have access to your information it means we can take care of so much more, and so much more quickly. Give our expert team the tools, and we will do what we say we are going to do. When we don’t have access it can be like operating with one hand behind your back, and no one wants that!

Some examples of what we need:

Xero & Dext - If we haven’t set it up and you already have this software, we will need access so we can start to work on your accounts remotely and give you insights into your business.

Non-Xero Software - If we do not do the bookkeeping for you and you are not on Xero that is absolutely fine, but in order for us to give you tax planning and quick turnaround of your accounts, we will need a method of access.

Inboxes - If you want us to manage your inboxes and process your accounts information, we will need access to the inbox where all the paperwork goes to.

Suppliers - Authorisation to work with your suppliers on your behalf allows us to get the invoices and statements we need in order to work quickly and effectively on your accounts.

HMRC and Companies House Logins - As an agent that is able to act on your behalf, we should be able to take control of your accounts without you having to assist or provide security codes every time we need access (which can be frequent). It also means if there is a problem we will be able to resolve it, so you don’t need to worry.

Read-only Bank Access - If we do your bookkeeping this is absolutely crucial, because without this we are not able to reconcile your banks, properly close off the months, and give you accurate advice. Read-only bank access is exactly that, we are unable to make any changes whatsoever, but can access your account to download the relevant period’s statements that are necessary to produce your accounts.

From time to time our access, particularly to banks, will time-out and need to be refreshed. Please be quick to respond when we ask for these codes, as it will stop what we are able to do for you.

4. Responsiveness

Obviously you will expect our team to answer your queries and return calls as quickly as reasonably possible. However, we need this too! When you receive our query lists, or when a member of the team needs something (e.g. access, a code, an invoice etc.) any delay can slow down you getting your information and can possibly lead to tax not being claimed. Let’s face it - no one wants that.

5. Communication

In our business, communication is key. It is really helpful to know the best ways to communicate with you and who the key stakeholders are in your business. Similarly if there are ever any changes, e.g. if you change/add banks, secure new loans, team members or personal details change etc. you need to advise us about them so we can continue to work as effectively as possible.

6. Structured meeting plan

Every meeting you have with Northern Accountants will follow a specific agenda that is tailored to your needs and targeted towards what is best for your business. These agendas may cover any combination of accounting analysis and advisory services, where we can give you the latest and most relevant expertise for your business.

Meetings are booked in by our admin team who will work with you to agree a date that is suitable. Please make sure you are available for these meetings as they are essential touch points where our team will deliver YOUR business insights.

7. Access to a specialist team

Although you have a primary Client Manager, you will be introduced to a range of team members who are all specialists in their own fields and can support you whenever you need it. We operate call back policies to ensure that, if you are unable to get through to the person you need to speak to (and another of our amazingly friendly team cannot help you), a meeting slot will go in the calendar to ensure you get help quickly.

8. Transparent Billing

Nobody likes hidden surprises when it comes to billing, so we keep our pricing transparent and consistent. Our principles are clear, we bill for services and not time (unlike a lot of other practices), and we price per service so it is easy for you to add and remove them as required.

At the beginning of your financial year we will review all of your services to ensure we are providing everything you need. Quarterly we will check the number of transactions to ensure the bills for our bookkeeping services are fair for all parties - the amount you pay reflects the number of transactions and your bill will simply go down or up according to that.

9. Direct Debits

To make billing simple and to spread costs, all our services are paid for monthly by Direct Debit. Any changes in services/prices will be reflected by a new Monthly Direct Debit amount.

Why This Matters To You

You are moving to Northern Accountants to get an industry-leading service and to work with a team that you feel comfortable with. We (as you have probably gathered) have a very specific way of working, but we feel it would also be only right we tell you why it is so important! And more importantly, what the benefits are to you...

Service Levels

Get the services you are paying for quickly and delivered on time.

Project Work

When there are problems with your accounts, let us identify it and fix them. Get the accounting information you deserve.

Frees up your time

Your time is better spent on your family, your business and doing what makes you happy. Give us the tools to do our job and we will rarely bother you!

Dealing with HMRC

Allow us to take care of accounting issues for you - let the experts do what they are trained to do and handle any HMRC issues.

Real time information

Make fact based decisions based on real time financial information. The easier our access to the information, the quicker we can process.

Effective Tax Planning

With accurate real time information we are able to provide regular updates on your tax liabilities, so unexpected tax bills are a thing of the past. With up to date information you will also maximise the effectiveness of our tax planning at the critical month nine.

Value added meeting time

We work with set agendas to ensure that everything that should be covered in meetings is assessed, and so that every meeting experience is to the same high standard. Keeping meetings on-point and hopefully as interesting as possible.

Peace of mind

Know that you have a team working together for you. We will be available whenever you need us, and we’ll do everything you need to make sure you are compliant and receive the best possible service.

Missed Deadline Effects

You lose out on VAT or tax savings if we have to cash code transactions without the necessary information

Month End Reports

NA Deadline:

Pre-Agreed Deadline

What We Need From You:

To provide all information from the query sheet to be able to receive the insight report by the agreed deadline

Why It Is Important

To benefit from the insight of your business as agreed at the start of your engagement

Missed Deadline Effects

Not knowing the relevant taxes that are due could financially cause a cash flow problem within your company

Insight Meetings

NA Deadline:

Pre-Agreed Deadline

What We Need From You: Ensure your accounting software is up to date. Attend meeting

Why It Is Important

To benefit from the insight of your business as agreed at the start of your engagement

Missed Deadline Effects

Insights will be limited if the accuracy of information is lacking

MI Meetings

NA Deadline:

Pre-Agreed Deadline

What We Need From You: Update your CM on any major changes in your business

Why It Is Important

To make sure you are receiving and paying for the correct services you agreed to at the start of the engagement

Missed Deadline Effects

You do not get the best fit of services for your business

Payroll Deadlines

Payroll Deadline

NA Deadline: 2 days prior to processing of payroll

Statutory Deadline: Pay date

What We Need From You: Send Payroll entry on time and via Brightpay process. Answer any queries in a timely manner

Why It Is Important

You have the information you need to pay employees on time and to hit statutory deadlines

Missed Deadline Effects

Payrolls not able to be ran on time. Possible penalties for late RTI Submissions. Potential late pension payments and subsequent fines

P60 Filing

NA Deadline: 14th May

Statutory Deadline: 31st May

What We Need From You:

To ensure that the payroll monthly submissions are completed to be able to produce the P60 in month 12

Why It Is Important

This is a legal obligation

Missed Deadline Effects

Strictly, HMRC have the discretion to charge an initial penalty of up to £300 per late form and can charge a further penalty of up to £60 for each day that the failure continues

P11D Filing

NA Deadline: 1st July

Statutory Deadline: 6th July

What We Need From You:

To provide the necessary information that will be requested from your Payroll Manager

Why It Is Important

Payment date is 22nd July

Missed Deadline Effects

You’ll get a penalty of £100 per 50 employees for each month or part month your P11D(b) is late. You’ll also be charged penalties and interest if you’re late paying HM Revenue and Customs

Monthly/Quarterly Submission Deadlines

CIS

NA Deadline: Monthly on the 12th

Statutory Deadline: Monthly on the 19th

What We Need From You:

To provide all paperwork to enable us to do the CIS return in time

Why It Is Important

To avoid any penalties from HMRC for late filing

Missed Deadline Effects

Late filing penalty of £100

VAT

NA Deadline: Monthly on the 28th

Statutory Deadline: Quarterly on the 7th

What We Need From You:

To provide all paperwork to enable us to do the VAT return in time

Why It Is Important

To avoid any penalties from HMRC for late filing. Maintains accurate accounting information

Missed Deadline Effects

You’ll receive a penalty point for each late return until you reach the penalty point threshold. You’ll then receive a £200 penalty, and a further £200 for each subsequent late submission while you’re at the threshold

PAYE

NA Deadline: Monthly on the 15th

Statutory Deadline: Monthly on the 22nd

What We Need From You:

All the payroll information in time to be able to submit the Full Payment Submission to HMRC

Why It Is Important

To avoid any penalties from HMRC for late filing.

Missed Deadline Effects

The late filing penalty depends on the number of employees in your company, starting from £100 per month.

Payment Deadlines

CIS

Statutory Deadline: Monthly on the 19th

What We Need From You:

To make a payment or give us instruction to make it on your behalf by the 19th of the month

Why It Is Important

To avoid any penalties from HMRC for late payment

Missed Deadline Effects

To avoid late payment and repayment interest issued by HMRC

VAT

Statutory Deadline: Quarterly on the 7th

What We Need From You:

To the provide paperwork to enable us to do the VAT return, then on instruction make any necessary payment by the 7th of the month

Why It Is Important

To avoid any penalties from HMRC for late payment

Missed Deadline Effects

To avoid the financial penalty issued by HMRC. Calculated at 2% on the VAT you owe at day 15 with further penailties after 31 days

PAYE

Statutory Deadline: Monthly on the 22nd

What We Need From You:

Any payment that is due must be paid to avoid any unnecessary penalties from HMRC

Why It Is Important

To avoid any penalties from HMRC for late payment

Missed Deadline Effects

To avoid late payment and repayment interest issued by HMRC

Self Assessment

Statutory Deadline: 31st January and 31st July

What We Need From You:

Any payment that is due must be paid to avoid any unnecessary penalties from HMRC

Why It Is Important

To avoid any penalties from HMRC for late payment

Missed Deadline Effects

After payment is 30 days late the penalty is 5% of tax outstanding, while if it is 6 months late, a further 5% of tax outstanding and the same if it is 12 months late

Corporation Tax

Statutory Deadline: Month Nine +1 day

What We Need From You:

To make the payment if applicable (as instructed by your Client Manager)

Why It Is Important

To avoid any penalties from HMRC for late payment

Missed Deadline Effects

The current late payment and repayment interest rates applied to the main taxes and duties that HMRC currently charges and pays interest on are: late payment interest rate — 7% from 31 May 2023. repayment interest rate — 3.5% from 31 May 2023

A.Payee

Annual Submission Deadlines

Self Assessment Tax Return

NA Deadline:

7th January

Statutory Deadline: 31st January

What We Need From You:

To provide the necessary information that will be requested from your Assistant Client Manager

Why It Is Important

This is a legal obligation

Missed Deadline Effects

You will automatically receive a fixed penalty of £100 if your tax return is late on day 1

3 months late - you may have to pay a penalty of £10 a day, maximum of 90 days

6 months - you may have to pay a further penalty of 5% of the tax you owe or £300, whichever is greater 12 months - you may have to pay a further penalty of 5% of the tax you owe or £300,whichever is greater - in some cases, you may have to pay up to 100% of the tax you owe

Year-end Accounts and Accounts Submission

NA Deadline:

Month 8 of your financial year

Statutory Deadline: Month Twelve

What We Need From You:

Up-to-date software and provide all information requested by your Assistant Client Manager. To approve the accounts in a timely manner to ensure that the accounts are filed on time

Why It Is Important

This is a legal obligation

Missed Deadline Effects

Causes a delay in the delivery of final accounting information. You will automatically receive a penalty notice if your accounts are filed after the deadline. The penalty is doubled if your accounts are late 2 years in a row. You can also be fined and your company struck off the register if you do not send Companies House your accounts.

Corporation Tax Return

NA Deadline:

Month 8 of your financial year

Statutory Deadline: Month Nine

What We Need From You:

To provide the necessary information that will be requested from your Assistant Client Manager

Why It Is Important

This is a legal obligation

Missed Deadline Effects

You’ll have to pay penalties if you do not file your Company Tax Return by the deadline. £100 penalty on the first day after you deadline with another £100 added after 3 months if still not submitted. After 6 months HMRC will estimate your Corporation Tax bill and add a penalty of 10% to the unpaid tax with another 10% added after 12 months.

Next Steps

Thank you for taking the time to understand more about how we work and what we need you to do. The aim is to conclude your onboarding in a maximum of 90 days. The next step is pretty simplewe just need to do it and get you experiencing industry leading service levels!

Key Steps

1. We will call you to book in your onboarding meeting

2. We will send you the preparation paperwork - what we need from you

3. We will hold your onboarding meeting with you

4. We will complete the admin and set-up

5. We will start providing your services

Conclusion

Hopefully you have found this document very helpful and you now understand even more about Northern Accountants.

We thought this document would be useful so you know the best environment and conditions to get the most out of the relationship.

As always, should you have any questions, please feel free to call the team and we will do whatever it takes to help you.

Olympus House 2 Howley Park Pullan Way Leeds LS27 0BZ 0113 218 9552 @northernacc /NorthernAccountantsLtd @northernacc Northern Accountants Ltd savetax@northernaccountants.co.uk northernaccountants.co.uk

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