Accounting Retainer Agreement Template for England and Wales

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Key Requirements PROMPT example:

Accounting Retainer Agreement

"I need an Accounting Retainer Agreement for my tech startup based in Manchester, with monthly bookkeeping services and quarterly management accounts, starting from March 2025, with specific provisions for handling our international transactions and cryptocurrency assets."

Document background
The Accounting Retainer Agreement is essential for businesses seeking ongoing accounting support in England and Wales. This document establishes the framework for a continuing professional relationship, defining the scope of services, fee structures, and mutual obligations. It ensures compliance with UK accounting standards, data protection regulations, and professional requirements while providing clarity on service delivery and expectations. The agreement is particularly valuable for businesses requiring regular accounting support rather than one-off services.
Suggested Sections

1. Parties: Identification and details of the accounting firm and client

2. Background: Context and purpose of the retainer agreement

3. Definitions: Key terms used throughout the agreement

4. Scope of Services: Detailed description of accounting services to be provided

5. Fees and Payment Terms: Retainer fee structure, billing frequency, and payment terms

6. Term and Termination: Duration of agreement and termination provisions

7. Confidentiality: Protection of client information and business secrets

Optional Sections

1. Additional Services: Framework for engaging additional services beyond retainer scope - used when offering potential additional services

2. Client Responsibilities: Specific obligations of the client - used for complex engagements requiring client cooperation

3. Force Majeure: Provisions for unforeseen circumstances - recommended for long-term retainer agreements

Suggested Schedules

1. Schedule of Services: Detailed breakdown of included services and deliverables

2. Fee Schedule: Detailed fee structure and rates for different service levels

3. Service Level Agreement: Performance metrics and response times

4. Data Processing Agreement: GDPR-compliant data processing terms

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Clauses
Relevant Industries
Relevant Teams
Relevant Roles
Industries

Companies Act 2006: Primary legislation governing company accounting records, reporting requirements, and statutory obligations for maintaining proper books of accounts

Financial Services and Markets Act 2000: Regulatory framework for financial services in the UK, including provisions affecting accountancy services

Data Protection Act 2018 and UK GDPR: Legislation governing the handling and protection of personal and financial data

Money Laundering Regulations 2017: Regulations requiring accountants to implement anti-money laundering controls and conduct due diligence

Proceeds of Crime Act 2002: Legislation relating to reporting obligations for suspicious financial activities

ICAEW Regulations: Professional standards and guidelines set by the Institute of Chartered Accountants in England and Wales

FRC Requirements: Financial Reporting Council standards governing accounting and auditing practices

UK IFRS: International Financial Reporting Standards as adopted by the UK post-Brexit

UK GAAP: UK Generally Accepted Accounting Practice - the standard framework of accounting guidelines for UK financial statements

Common Law of Contract: Body of case law establishing fundamental principles of contract formation and enforcement

Unfair Contract Terms Act 1977: Legislation restricting the use and enforcement of unfair terms in contracts

Consumer Rights Act 2015: Legislation protecting consumer rights in service contracts, applicable when dealing with individual clients

Supply of Goods and Services Act 1982: Legislation implying terms about quality of service into contracts

Finance Acts: Annual legislation implementing tax changes and requirements affecting accounting practices

Tax Management Act 1970: Framework legislation for tax administration and management

Professional Indemnity Insurance Requirements: Regulatory requirements for maintaining professional indemnity insurance coverage for accounting services

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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