10.1 Your responsibilities regarding your Financial Statements
10.1.1 For the purposes of this agreement your financial statements includes your Statutory Accounts for Companies House, Corporation Tax Return, Self- Assessment Personal Tax Returns and any associated statements/returns we prepare on your behalf.
10.1.2 You must make all information, explanation and documentation available to us in order to prepare your accounts.
10.1.3 You must ensure your bookkeeping records are up to date, complete and accurate before we can prepare your financial statements, reports, or file any relevant returns to a third party. This responsibility is not avoided where you contract to our bookkeeping services, and it is your responsibility to pay for any work you request us to perform.
10.1.4 You are responsible for conducting your affairs in an ethical, legal and responsible manner. This includes protection of your data and tangible as well as intangible assets. Where there is a requirement for regulatory compliance duties, you must also ensure you have appropriate controls and process to prevent non-compliance and the detection of fraudulent activities.
10.1.5 If you have any previous history in relation to fraudulent or laundering activity, even if this relates to commercial or non-commercial entities for which we have not been contracted to provide services, you must make us aware of these issues before we enter into any arrangement with you.
10.2 Our responsibilities during and filing your Financial Statements
10.2.1 We will act diligently to produce financial statements which accurately reflect the information supplied by you regarding your business affairs but will not be responsible for errors arising from incorrect information supplied by you.
10.2.2 We will not take responsibility for any losses, penalties, surcharges, interest or additional tax liabilities due to KENYAN REVENUE AUTHORITY OF THE REPUBLIC OF KENYA, Companies House or any other organisation under any circumstances. Individual circumstances may be taken into consideration where we may contribute a portion of the fine solely at our discretion.
10.2.3 Any liability resulting from errors in the preparation of accounts, tax returns or any other work carried out is limited to the fee we charge for completing that work.
10.3 Bookkeeping
10.3.1 If we are appointed to complete your bookkeeping, we will need to collect all your support documentation before completing the accounts. We require only digital copies of your invoices, bills, receipts and relevant contracts. It is therefore your responsibility to ensure you keep and store the hardcopies and originals for the specified periods defined by the relevant authorities (for KENYAN REVENUE AUTHORITY OF THE REPUBLIC OF KENYA this is 6 years from the reporting period year-end).
10.3.2 If your Spondoo.ke package accounting contract includes a specified volume of bookkeeping based on a maximum number of transactions per month, and the number of transactions exceed this specified monthly limited, we will add the additional charges in respect of our bookkeeping at a rate of 50ksh per transaction, or 800ksh per hour. The choice to use the per transaction or hourly rate is entirely at the discretion of the directors of Spondoo.ke.
10.3.3 From time to time a director at Spondoo.ke may apply discretion over certain charges or provide a fixed rate price in respect of any catch-up work involved. The price / rate applied in this circumstance should not be considered to apply to any other work and is limited to the specific work agreed.
10.3.4 Where you are doing your own bookkeeping, we will try to highlight any issues we find during the preparation of your accounts. However, it is ultimately your responsibility and / or the responsibility of the third party completing your books.
10.4 VAT Returns
10.4.1 Where we conduct your bookkeeping, we will aim to collect all the supporting documentation as described under the bookkeeping section of this document.
10.4.2 Where you conduct your own bookkeeping, you will need to ensure you provide accurate records and supporting documentation for us to assist in this process. If we notice something incorrect, we will aim to raise this with you, however, it is your responsibility to ensure your bookkeeping records are correct and complete.
10.4.3 VAT Filing Data Filing Services should not be confused with our main VAT Return Services. We will provide professional scrutiny and oversight during the preparation of your return.
10.5 Payroll
10.5.1 Our payroll bureau services include Statutory pay, Updating of electronic tax codes, Preparation and submission of Payroll Returns, PAYE, NHIF & NSSF calculations, Standard Management reports, New Starters / Joiners, Leavers, Attachment of Earnings, Timesheet Entry, Employee access to online e-portal to view and print payslips
10.5.2 Our workplace pensions service typically includes setting up an Occupational Pension Scheme, periodic assessment of the workforce into
10.5.3 Items 10.5.1 and 10.5.2 are included as standard, but additional services can be requested at a fee, including Printed Payslips to your office, BACS payment, PAYE settlement agreements and Employee Holiday Administration.
10.5.5 Employee Holiday Administration – we can provide employee holiday entitlement administration, from simple record keeping of holidays taken and balances due, to both contractual and statutory Holiday Pay calculations, depending on the level of service you require.
10.6 Our responsibilities for production of Management Accounts
10.6.1 In the event you appoint us to provide management accounting services, you acknowledge this could be formed from the following components:
10.6.1.1 Data Mapping / Analysis – extraction of data from your accounting reports for representing in a useable format.
10.6.1.2 Accounting Logic – accountants investigating and implementing existing and future management accounting methodology for implementation in the accounts.
10.6.1.3 Checking bookkeeping – accountants investigating (at a high level) the general accuracy of the bookkeeping records, while raising any issues with yourself and your team. Where the items are basic/quick to correct, we will try to make these adjustments within our agreed monthly fee. Where the item/issue involves a great deal more time/work than we would reasonably expect, we will need to agree a price to completing this additional work.
10.6.1.4 Relevant bookkeeping activity – the production of management accounts may include assisting your existing bookkeeper with items of higher complexity. These items may include balance reconciliations, monitoring / posting journal from management accounting policies and maintenance of fixed asset register. These variables will be agreed and price before conducting the work. It may be required that we work on your accounts for a limited period of time before these items can be known – once these items are known and understood this may result in a revised fee – either up or down.
10.6.2 Where we are appointed to provide management accounts for internal or external purposes we will offer our standard report formats. Where you require bespoke reports we will quote the relevant costs for creating these reports.
10.7 Your responsibilities for production of Management Accounts
10.7.1 It is important to note that the management reports we provide will be based on the bookkeeping records for your business. Where you have poor quality records we will attempt to highlight where these issues are. If we are required to perform any adjusting work, we will charge this at our hourly accountant rates dependent on the complexity of the situation.
10.7.2 We will not be held responsible for presenting incorrect information that is a result of your incorrect and/or incomplete bookkeeping records.
10.7.3 Depending on the frequency agreed for the provision of the accounts, we will agree a cut-off date for which your bookkeeping records must be closed and complete. Failure to meet this cut-off failure may result in your management reports being produced late. Any resulting penalties from third parties will be yours to bear, not Spondoo Advisers Limited or its directors.
10.8 Your responsibilities to produce your Personal Tax Return
10.8.1 You must respond in good time to any questions we raise to you, in respect of your tax affairs and financial history.
10.8.2 If there are any relevant questions that you believe have not been asked, you must raise this matter with us to allow us to make an appropriate judgement.
10.8.3 You must declare all your sources of income and gains and make the appropriate information available to us. This includes UAE as well as overseas income. When contracting us to act as your accountant you agree to share all information in respect of your income or gains whether you personally deem this to be relevant.
10.8.4 You are responsible for ensuring that you provide all the required information and pay any outstanding fees to us in good time before your 31st January tax return deadline.
10.9 Our responsibilities to produce your Personal Tax Return
10.9.1 We will act diligently in the preparation of your personal tax computation and returns.
10.9.2 We will prepare your returns in good time upon receipt of the necessary information.
10.9.3 We are not responsible for you providing incorrect information or having incomplete records.
10.9.4 We not responsible if you have made omissions or supplied incorrect values in previous periods.
10.10 Specialist & Bespoke Accounting Services
Our Specialised accountancy services include combined accounting, administrative and software development. Due to the bespoke nature of these services, they will be contracted and priced separately.
10.11 Pension Scheme Services
10.11.1 Pension scheme services should not be confused with our payroll / auto enrolment services. Our pension scheme services refer to services supplied to the trustees, administrator and/or sponsors of a UAE registered pension scheme.
10.11.2 These specialist services typically include those relating to pension scheme taxation, technology consultancy, pension administration, fund accounting and relative scheme returns to KENYAN REVENUE AUTHORITY OF THE REPUBLIC OF KENYA or the Pensions Regulator.
10.11.3 Returns to both KENYAN REVENUE AUTHORITY OF THE REPUBLIC OF KENYA and the Pensions Regulator are based on information supplied to us. We cannot be held responsible for your incorrect accounting or pension administration records.
10.11.4 Retirement PAYE Services
