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Engagement Letter Template for Dormant Accounts & Corporation Tax Return
Preparation of dormant accounts, corporation tax return, compliance, and responsibilities outlined.
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Engagement Letter Template
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Dormant Accounts & Corporation Tax Return
This schedule should be read in conjunction with the engagement letter and the standard terms and conditions.Introduction
You have engaged us to help you prepare the dormant accounts and dormant corporation tax return.Your Responsibilities
Dormant Company Accounts
As directors of the company, you are required by statute for preparing financial statements for each financial year, which give a true and fair view of the state of affairs of the company and of its profit or loss for that period and which have been prepared in accordance with the Companies Act 2006. It is your responsibility to keep proper accounting records that disclose with reasonable accuracy at any particular time the financial position of the company and for ensuring that the financial statements comply with applicable accounting standards and with the Companies Act 2006 and give a true and fair view. By approving the financial statements, you will be acknowledging this responsibility.You are responsible for ensuring that the company complies with the laws and regulations that apply to its activities, and for preventing non-compliance and detecting any that occurs.You are responsible for determining whether, in respect of the year concerned, the company meets the conditions for dormant companies as set out in section 1169 of the Companies Act 2006. As per Section 1169, the company is dormant during the period in which it has no significant accounting transaction. A ‘significant’ accounting transaction is defined as one that the company should enter in its accounting records. In determining whether a company is dormant or not, following transactions are not treated as significant accounting transactions:- any filing fees paid to Companies House
- penalties paid for late filing of accounts
- money paid for shares when the company was incorporated
Dormant Corporation Tax Return
You are legally responsible for:- ensuring that the corporation tax return (including tax computation, any other attached or enclosed information, XBRL tags and iXBRL file) is correct and complete;
- filing any returns by the due date; and
- paying tax on time.
- It is not trading and does not have any income.
- It is new limited company and hasn’t started trading yet.
- It is flat management company.
- It is unincorporated association or charity that owes less than £100 of corporation tax.
Our responsibilities
Dormant Company Accounts
You have told us that the company is dormant for Companies House and Corporation tax. We will not check whether this is the case. However, if we find that the company does not qualify as dormant, we will inform you.As you have told us the company is dormant, we will not request any books and records, bank statements and other documents in relation to the transactions of the company on the assumption that the company does not have any transactions at all. You will need to inform us immediately if this is the case or the situation of the company changes and it becomes non-dormant.We will be preparing dormant accounts and file it to the Companies House.Corporation tax return and iXBRL tags
We will prepare dormant corporation tax return.If you instruct us, we will tell HMRC that the company is dormant and will not be filing corporation tax return going forward. However, you will need to inform HMRC as soon as the company’s status changes to non-dormant.Changes in the law, in practice or in public policy
We will not accept responsibility if you act on advice given by us on an earlier occasion without first confirming with us that the advice is still valid in the light of any change in the law, practice, public policy or in your circumstances.We will accept no liability for losses arising from changes in the law (or the interpretation thereof), practice or public policy that are first published after the date on which the advice is given.Limitation of liability
Our services as detailed above are subject to the limitations on our liability set out in the engagement letter and in of our standard terms and conditions of business. These are important provisions, which you should read and consider carefully.There are no third parties that we have agreed should be entitled to rely on the work done pursuant to this engagement letter.Get Started for Free!
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Dormant Accounts & Corporation Tax Return Engagement Letter Template
Easily generate professional engagement letters for your Dormant Accounts and Corporation Tax Return services that align with your brand values and cater to your clients’ specific needs. Choose our ready-made template or sign up to FigsFlow to experience the benefits first-hand.
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Frequently Asked Questions
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What is the purpose of this engagement letter template?
The engagement letter template helps define the scope of work, responsibilities, and terms of agreement between you and your client. It ensures both parties have clear expectations and a mutual understanding of the service arrangement.
Who can use this template?
This template is ideal for:
- Accountants
- Bookkeepers
- Tax Advisers
What sections are included in the template?
The template includes:
Scope of Services: Outlining the tasks related to the service
Client Responsibilities: Clearly defining what the client needs to provide.
Other Key arrangements: Covering other key agreements related to the service.
Can I customise the template to suit my business needs?
Yes, the template is fully customisable. You can modify sections to align with your business practices, legal requirements, and client preferences.
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