Letter of Engagement questions

Psyche

Me again,
I've downloaded the sample Letter of Engagement from the AAT website and gone over it with my client, but there are a few phrases we didn't understand. Does anyone know what they mean?

- Under responsibilities of directors, "• determining whether for any reason the exemption is not available in respect of the period." What is this exemption?

- Further down the section, the accountant agrees to "(d) maintain the statutory books." Are these just the year-end accounts and the supporting paperwork required by law?

Also, at the bottom of form 64-8 there is a box that says "Client reference". Do I fill that in, and if so, what do I use for the reference?

Thanks again!
~Psyche

A-Vic

Psyche wrote: »

Also, at the bottom of form 64-8 there is a box that says "Client reference". Do I fill that in, and if so, what do I use for the reference?

Thanks again!
~Psyche

Hi

I cant help much with the others but the reference is either sole trader Unique Tax Reference or Limited Tax Reference if either havnt been registered just tick the not registered box on the 64-8

The company registration number will be available on companies house site

http://wck2.companieshouse.gov.uk/d036080fffc883931e088cb140daa758/wcframe?name=accessCompanyInfo

farmergiles

A-Vic wrote: »

Hi

I cant help much with the others but the reference is either sole trader Unique Tax Reference or Limited Tax Reference if either havnt been registered just tick the not registered box on the 64-8

The company registration number will be available on companies house site

http://wck2.companieshouse.gov.uk/d036080fffc883931e088cb140daa758/wcframe?name=accessCompanyInfo

I beg to differ but the "Client reference" is the reference you allocate the client, in your files. The UTR etc is covered in the second column of the 64-8.

A-Vic

farmergiles wrote: »

I beg to differ but the "Client reference" is the reference you allocate the client, in your files. The UTR etc is covered in the second column of the 64-8.

Right at the very bottom yes of course my bad you can use your own reference what your client is filed under

Psyche

Thanks, now I just have to come up with one!
~Psyche

Bluewednesday

Psyche wrote: »

Me again,

- Under responsibilities of directors, "• determining whether for any reason the exemption is not available in respect of the period." What is this exemption?

I presume you mean the small companies exemption from preparing full accounts.

Psyche wrote: »

- Further down the section, the accountant agrees to "(d) maintain the statutory books." Are these just the year-end accounts and the supporting paperwork required by law?

The statutory books are those supplied to a limited companies and are usually the memorandum and articles of association, the company registers and the company seals.

Gem7321

Psyche wrote: »

Also, at the bottom of form 64-8 there is a box that says "Client reference". Do I fill that in, and if so, what do I use for the reference?

Is this the box in the agents details section? If so you don't have to fill it in, it's just if you use client references for your own filing purposes etc.
ie. you might use the first 2 letters of the clients name followed by a 4 digit no.


Edit - A Vic beat me!

Psyche

Thank you Bluewednesday, both of those make complete sense!
~Psyche