previous accountants requiring £200 to pass paperwork over!
We have a new client (one director.shareholder company) that used one of the 'specialist' contractor accountancy businesses previously.
Built into the terms is the requirement that if the director terminates the agreement for services, there is a payment of £200 required to pass over information retained on their system (they did the bookkeeping, PAYE, VAT and invoicing customers).
It also says that providing the information can take up to sixty days!
What can be done, if anything?
Who actually owns the records?
The company website says that it is owned by qualified accountants and lawyers, but no way of telling who is a member of what.
Any suggestions please ... apart from paying the £200 or doing without the information?
I presume we are not allowed to have a similar clause requiring payment to pass on information we store electronically (we are ICAEW regulated)?
- B2B vat in the EU 154 4
- Coding Notice 185 6
- VAT on Hire Purchase 62 1
- Are there Special Rules for Agencies? 361 9
- Samadian effect on self employed student support workers 176 4
- Changes to class 2 NIC's 194 3
- Client RTI Shows payments not his 159 4
- UK company paying dividend to foreign shareholder 152 3
- LLP as member of LLP 108 1
- Why should I retain membership? 2,760 48
- Alerting clients versus walking away from clients 465 7
- Vat 288 7
- SA online - 4 hour limit 1,287 13
- Recharge for private use of a company car 198 3
- Funding Circle Servicing Fee 175 2
- Surprise visit from HMRC! 2,498 18
- CT/CIS offset 154 2
- Statutory accounts, current company address, or one that was correct at EOY? 203 4
- Trade name 202 3
- Musician - Allowable Travel expenses 146 1
- Auto enrolment excuses 828
- Feedback on accounts production software for IFRS 712
- Add T&Cs to Sales Order in Sage 395
- Social investment tax relief 211
- Digita Hosted Software 207
- Call Centre Data Costs 195
- Buying goods in US and selling them to company in US 167
- Travel costs and contractors 159
- Problems with Sage 50 Payroll v21(2015) 152
- accounting for this transaction 152