JA Fee Paying Pack

Types of Preparatory Work That you Can Assist us With.

The Preparatory Work below sets out the type of work that is undertaken by the Accountant that falls within the meaning of ‘Preparatory Work’ under the terms of Agreement your Agreement with JA.

Preparatory Work – MVL

This section sets out the work the Accountant undertakes on helping the preparations to place the client into MVL which is considered Preparatory Work for the purpose of your Agreement with JA.

Preparatory Work would usually include but would not be limited to:

• preparing final accounts;
• de-registration for VAT;
• liaising with the Provider’s MVL team as appropriate;
• assisting the Provider with the preparation of the declaration of solvency;
• assisting the Provider and the client with the completion of the directors’ questionnaire;
• assisting with any tax queries or reconciliation issues and
• submitting the final CT tax returns and final VAT returns.

In relation to the MVL introduced to the Restructuring Provider by the Accountant.

Preparatory Work – CVL

This section sets out the work the Accountant undertakes on helping the preparations to place the client into CVL which is considered Preparatory Work for the purpose of your Agreement with JA.

Preparatory Work would usually include but would not be limited to:

• liaising with the Provider’s CVL team as appropriate;
• assisting the Provider with the preparation of the estimated statement of affairs;
• assisting the Provider and the client with the completion of the following information:
  • up to date list of creditors (aged creditors list, names, addresses, amounts and any relevant references);
  • HM Revenue & Customs details: PAYE reference / Corporation Tax reference / debt due, split between deductions from workers (i.e. PAYE, employees’ NI, CIS deductions, student loan deductions) and other taxes (i.e. corporation tax and employer’s NI);
  • VAT details (including VAT number / details of outstanding returns / amount of VAT outstanding);
  • employee details (employment contracts, names, start dates, salary, outstanding wages and holiday);
  • details of any company pension scheme;
  • details of any Employee Benefit Trust (or similar) used by the company and how this has been dealt with via HMRC (has HMRC demanded PAYE/NI element, has this been appealed, paid, and/or put through the company’s payroll);
  • history of the business in a bullet point format;
  • details of any legal action against company or taken by company along with the name of your solicitors/ legal advisors;
  • any correspondence with the bank as regards any potentially mis-sold interest rate hedging product or swap;
  • details of any assets (including those on finance and copies of the agreements);
  • up to date debtors (aged debtors list, names, address and amounts);
  • details of any retention of title claims;
  • any insurance cover in place and insurance brokers name / address & policy number;
  • occupancy agreement between company and landlord;
  • details of company’s other professional advisors, i.e. accountants, insurance broker, solicitor, etc;
  • names of any subsidiary or associated companies;
  • details of any matters that the board of directors consider to be relevant; and,
• assisting with any tax queries or reconciliation issues.

In relation to the CVL introduced to the Restructuring Provider by the Accountant.