These joint Protero Tax and TLP terms of business explain the basis under which we will supply our Services to you.
For your benefit and protection please read these terms carefully and ask for clarification if you do not understand anything.
These terms are made between the following parties: –
Protero Tax Ltd, Chartered Accountants registered number 12780442, 42 Lytton Road, Barnet, EN5 5BY (known as your tax advisors) and The Landlord’s Pension Ltd, Property Advisors registered number 12775174, 42 Lytton Road, Barnet, EN5 5BY (known as your property advisors), jointly referred to as (“we, us, our, firm”)
You – “The Client” (or Clients) being the person(s) signing and agreeing to this Terms of Business
These terms of business explain the basis under which we will supply our Services to you.
Please read these terms carefully and ask for clarification if you do not understand anything.
A) What we will do for you – Agreed Services
1. You appoint us for the purpose(s) of;
- Completion of a Fact Find to establish your individual circumstances, needs and objectives in relation to a Business Trust Fund;
- Undertaking research in consideration of any new Business Trust Fund and future investment products;
- Formation of a Business Trust Fund for you including:
- Completion of Anti-Money Laundering Verification requirements for HMRC
- Registration of the Business Trust Fund with HMRC and/or Companies House
- Registration of the Business Trust Fund with The Information Commissioners Office (if required)
- Opening a private bank account for the Business Trust Fund
- Provision and execution of Trust Deeds
- Funds transfer documentation (where required)
- Real estate (Property) investment structuring and advice
- Annual investment review;
- New contributions and investments;
- Business Trust Find advisor and office administration support
B) What We charge You for the Services – Costs and Charges
1. You agree to pay the following fees (The Fees) to Us for the Agreed Services described in section A.
- The initial fee of £5,950.00 plus VAT
- A reduction of 10% is made if terms of business for a Tax-Exempt Business Investment Account are entered into within 7 days of signing this agreement.
• A fixed annual recurring fee of £300.00 plus VAT
2. The Fee(s) will become payable by You at the following dates:
- Initial fee is payable to Us immediately upon the issue of a Business Trust Fund registration number by Companies House, which effectively registers your Business Trust Fund as a legal entity.
- The ongoing services fee is due annually in arrears from the date of the registration of the Business Trust Fund.
- You are liable for The Fees. Payment may be made by your new Business Trust Fund, your existing trading company or you personally and should be made by bank transfer payable to The Landlord’s Pension. Please note:
- Our Initial fee will still become due and payable in accordance with this terms of business when registration of the Business Trust Fund has been confirmed. For the avoidance of doubt the issue of your Business Trust Fund registration number by Companies House is deemed to mean the registration date.
- The Initial Fee is still payable by you if you choose to close and Wind Up the Business Trust Fund before funds are transferred or if you establish a Business Trust Fund (or near identical tax structure) directly yourself or with another Accountancy practice following our introduction of the Business Trust Fund to you.
3. We do not accept cash payments and all cheques should be made payable to The Landlord’s Pension Limited, unless it is payment for our Fees and costs described above.
4. If you pay our Fees late, we may charge you interest at a rate of 4.00% per annum above the Bank of England’s Base Rate from time to time accruing on a daily basis from the due date until payment is received. We will also charge a handling fee of £50.00 and shall seek to recover all our costs (including legal costs) allowable by the Courts if an award is made in our favour, in recovering any amounts due to us.
5. You accept responsibility to pay our Fees and any other agreed costs or charges and agree to reimburse us for all reasonable losses, costs, or other liabilities incurred by us which result from any willful or negligent breach by you of your obligations in these terms.
6. These terms will come into effect from the date you sign this terms of business.
C) What information do we hold about you and what do we do with it?
1. The EU General Data Protection Regulation, which applies from 25th May 2018, gives people more control over how their personal data is used. The Regulation sets out your rights as an individual regarding how your personal data is collected, used and stored, including your rights to have data corrected or removed.
2. We take the privacy and security of your personal information very seriously and are committed to protecting and respecting your privacy.
3. Our company GDPR (2018) policy can be found in full at www.thelandlordspension.co.uk/privacy-policy/
4. This notice sets out the purpose for which personal data that The Landlord’s Pension collects from you, or that you provide to us, will be processed by us. This applies whether your personal data was obtained directly by us or provided to us from other sources. Please read it carefully to understand our views and practices regarding your personal data and how we will treat it. By signing this terms of business you agree that you have read, understood and accept the information in the notice.
D) Other important terms
1. As part of our anti-money laundering regulatory requirements, we are required to verify your identity and retain your records both during and after the provision of our Services to you.
2. We may transfer all rights and obligations under these terms in circumstances where your rights under these terms are not materially affected.
3. These terms supersede all previous written terms between us in respect of the agreed Services and may not be modified except in writing and signed by both parties.
4. If any provision of these terms is held by any court or other competent authority to be void or unenforceable in whole or in part these terms shall continue to be valid as to the other provisions and the remainder of the affected provision.
5. Third party rights under the Contracts (Rights of Third Parties) Act 1999 are excluded.
6. These terms shall be governed by and construed in all respects in accordance with the Laws of England and Wales and each party hereby submits to the exclusive jurisdiction of the courts of England and Wales.
7. Any notice required by these terms, must be given by hand or sent by prepaid post to the registered office address of the relevant party. Any notice given by post, which is not returned to the sender as undelivered, shall be deemed to have been given on the third working day after the notice was posted. Proof that the envelope containing it was properly addressed, posted and that it has not been returned to sender, shall be enough evidence that such notice has been duly given.
8. Cancellation agreement:
You may cancel Our supply of Services at any time subject to the following clauses 8a-8e inclusive:
a) Your cancellation of Our supply of Services must be in writing and receipt of Your cancellation must be acknowledged by Us. You must send your cancellation to: The Company Director, The Landlord’s Pension Limited, Trident House, Trident Business Park, Didcot, OX11 7HJ.
b) Your cancellation of Our supply of Services is subject to the following charges:
c) If you cancel Our supply of Services in the seven days immediately following You signing these Terms of Business no fee is due by You to Us.
d) If You cancel Our Supply of Services between the eighth day after signing these Terms of Business or any day thereafter until the day before Your Business Trust Fund is registered with Companies House (evidenced by the issue of a Business Trust Fund registration number) a fee equal to 50% of Our Initial Fee is payable to Us immediately.
e) Upon the date and any day thereafter Your Business Trust Fund is registered with Companies House (evidenced by the issue of a Business Trust Fund registration number by Companies House) 100% of Our Initial Fee is payable immediately by You to Us.
By reading and acknowledging these terms by confirming below, you agree to us all the terms and conditions within these terms of business.This is a contract that you freely enter and agree to be bound by.
You agree to sign this contract by digital means in accordance with legal commercial agreements made under the Electronic Communications Act (2000). Under common law the contract essentials are that there is an offer, acceptance, agreed terms, consideration and intention to be bound. Detail can be found in S7(1) of The electronic communications Act (2000).
If you do not understand any point please ask for further information before signing. Please retain a copy of these terms provided to you for your records.