Welcome to Lowthers Tax & Trust Advisory!
Thank you for giving us the opportunity to work with you. To ensure that our business relationship starts and continues on a professional basis and that there are no misunderstandings as to what is expected from each of us we set out below the terms of engagement.
The professional services that you have requested us to perform for you are detailed in the enclosed terms of engagement & communications form. We will endeavour to provide these services to the highest possible standards.
The financial statements and tax returns will be compiled from information provided by you. In accordance with the Compilation Engagement Standards issued by the New Zealand Institute of Chartered Accountants a disclaimer will be attached by us to the financial statements and must remain attached to the financial statements when distributed to any other party. It is understood and agreed that you will provide accurate and complete information necessary to compile such statements and that the responsibility for the accuracy and completeness of the assertions in the financial statements remains with you.
A taxation checklist will be sent to you for completion and returned to us at the end of each financial year. The compilation services we provide will not result in the expression of an audit or review opinion or provide any form of assurance on the financial statements. It is not intended that these compilation services and this engagement for our professional services be relied upon by you to prevent or detect fraud and error.
It is understood that you authorise us to act as your tax agent and to obtain access to your records at the Inland Revenue Department through any means available for the purposes of preparing your tax returns and liaising with the Inland Revenue Department on any other tax matter.
Please sign the specific “Authority to act” letter which is enclosed. It is further understood that you authorise us to communicate with your bankers, solicitors, finance companies and investment advisors to obtain such further information as may be required to carry out the required assignments.
Terms and Conditions of Payment
You will receive our fees invoice on completion of your assignment. On larger assignments progress invoices may be issued. Our fees invoice will be addressed to your Company, Trust or Partnership as the main entity and could include all work for all your tax payer entities.
All invoices are due for payment 14 days after date of invoice. You may view our Terms of Trade at any time on our website. So that we can continue to provide our high quality of service, we ask that you pay your accounts on time.
If at any time you have any queries or concerns regarding payment, we ask that you contact us in the immediate to work with us to resolution. We have a range of payment options available to accommodate multiple situations.
We reserve the right to charge interest at 2% per month on outstanding balances. In the event of default, you, the undersigned will be held personally liable for any unpaid invoices. If the accounting work is undertaken on behalf of a company or trust, in the event of default the shareholder/s or trustee/s will be held personally liable for any unpaid invoices. You further acknowledge that in the event of default, debt collection costs and other costs incurred are to be charged on this debt until paid in full.
Payment Methods
Payment of our fees invoices can be made by cash, cheque, credit card, internet banking, overseas transfers and by automatic payment under an instalment arrangement. Full details will be included with our fees invoices when these are sent to you. The arrangements and terms of engagement in this letter will continue in effect from year to year unless both parties agree to change them. If you have any questions about the contents of this letter, please contact the writer.
Terms of Engagement & Communication Details Form (refer attached)
If the above terms are acceptable to you, please fill out all information required and sign the terms of engagement & communications form that is attached and forward this back to us.
We understand that circumstances can change and so if you do not require us to carry out any professional services for you please email us at admin@lowtherstax.co.nz.
Limitation of Liability
Unless the service provided is an audit, to the maximum extent permitted by law, you agree that our liability for any and all loss or damage suffered by you in connection with the services will be limited to two times the amount of professional fees paid to us for the Services and you agree to release us from all claims arising in connection with the Services to the extent that our liability in respect of such claims would exceed this amount. If the services were provided in respect of more than one financial year, the fee on which the liability amount is based will be the fee paid in respect of the financial year in respect of which the act or omission first occurred.
Guarantee of Fees
By signing below, I/we agree that if any of the accounting work undertaken is on behalf of a company or trust then the shareholder/s or trustee/s whom I represent, personally guarantee the payment of the accounting fee.
If you have any queries in relation to this engagement letter, please do not hesitate to contact our office.
Yours faithfully
LOWTHERS TAX LIMITED