These 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 in writing if You do not understand anything.
These terms of business are made and agreed between the following parties: –
Protero Tax Ltd, Chartered Accountants registered number 12780442, 42 Lytton Road, Barnet, EN5 5BY (known as your Trust Fund Administrators) and The Landlord’s Pension Ltd, SSAS Pension Administrators registered number 12775174, 42 Lytton Road, Barnet, EN5 5BY (known as your Business Pension Administrators), jointly referred to as (“We, Us, Our, Firm”)
You – “The Client” (or Clients)
A) What we will do for You – Agreed Services
- You appoint Us for the purpose(s) of establishing a Lifetime Business Tax Plan made up of;
- Completion of a Fact Find to establish your individual circumstances, needs, and objectives in relation to a Lifetime Business Tax Plan;
- Undertaking research and the presentation of this to You in consideration of Your new Trust Fund and SSAS Pension;
- Arranging a Trust Fund and SSAS Pension for You including:
- Establishment and registration of a Trust Fund
- Registration of the Trust Fund with HMRC
- Intercompany share allocation administration
- Establishment of the SSAS
- Registration of the SSAS with The Pensions Regulator (if required)
- Registration of the SSAS with The Information Commissioners Office
- Setting up bank account for the Trust Fund and SSAS
- Creation of the Bare Trust for the Trust Fund
- Provision of a SSAS Trust Deed and Rules
- Annual Trust Fund and SSAS compliance reporting;
- Annual Trust Fund and SSAs investment reviews;
- New contributions and investment assistance;
- Trust Fund and SSAS administration services
B) What We charge You for the Services – Costs and Charges
- You agree to pay the following fees (The Fees) to Us for the Agreed Services described in section A.
- The Initial Fee of £8,750.00 plus VAT
- The base cost for HMRC compliance reporting is a fixed annual, recurring fee of £3,950.00 plus VAT. Bespoke fees apply for investment transactions.
- The Fee(s) will become payable by You at the following dates:
- 50% of the Initial Fee is payable to Us immediately upon legal registration of the Trust Fund with the remaining 50% due upon the issue of a Pension Scheme Tax Reference (PSTR) by HMRC which registers your SSAS with HMRC as a valid UK business pension tax plan.
- The Ongoing Services Fee is due annually in arrears from the date of registration of the Trust Fund and is payable in full on this date.
You are liable for The Fees. Payment may be made by your new Trust Fund or SSAS, your trading company or you personally and should be made by bank transfer payable to The Landlord’s Pension Ltd.
- Our Initial fee will still become due and payable in accordance with this terms of business when registration of the Trust Fund and SSAS has been confirmed to us by HMRC. For the avoidance of doubt, the issue of your Trust fund registration number by Companies House and SSAS tax reference number by HMRC is deemed to mean the registration date.
- The Initial Fee is still payable by you if you choose to close and Wind Up the Trust Fund and/or SSAS pension plan before funds are transferred or if you establish a Trust Fund and/or SSAS pension directly with a Corporate Trustee following our introduction of the Corporate Trustee to you.
- We do not accept cash or cheque payments for payment for our Fees and costs described above.
- 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.
- 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.
- These terms will come into effect from the date you sign this terms of business.
- You hereby authorise your SSAS Corporate Trustee, once appointed, to settle all undisputed fee invoices from The Landlord’s Pension from your SSAS account when received without the further need for written consent, subject to a minimum of 14 days having lapsed from the date of the invoice.
C) What information do we hold about you and what do we do with it?
- 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.
- We take the privacy and security of your personal information very seriously and are committed to protecting and respecting your privacy.
- Our company GDPR (2018) policy can be found in full at www.thelandlordspension.co.uk/privacy-policy/
- 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
- 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.
- We may transfer all rights and obligations under these terms in circumstances where your rights under these terms are not materially affected.
- 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.
- 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.
- Third-party rights under the Contracts (Rights of Third Parties) Act 1999 are excluded.
- 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.
- 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 beginning of the eighth day after signing these Terms of Business or any day thereafter until the day immediately before Your Trust Fund is registered with Companies House a fee equal to 50% of Our Initial Fee is payable to Us immediately.
e) Upon the date and any day thereafter Your SSAS is registered with HMRC (evidenced by the issue of a Pension Scheme Tax Registration number by HMRC) 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.
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.