Working with VATangles is clear and straightforward. All sides must know where they stand at all times, which includes HMRC, with whom we will liaise throughout the engagement.

 

Our work is regulated by the Chartered Institute of Taxation – the premier professional body for tax practitioners. We will issue our clients with a bespoke letter of engagement, setting out the precise work to be undertaken, as well as the basis of our fees, so that it is clear from the start. We will also issue our Standard Terms of Business. These documents are as drafted by QCs on behalf of our regulatory body. 

 

We charge fees based on an agreed hourly rate or a percentage of the savings or benefits identified and achieved for our clients. We base our hourly rates on the most appropriate person to undertake the work. We do not charge for senior staff when a more junior member of the team can deliver the work; we are transparent about who carries out the work from the start of any engagement. Our promise to our clients is to ensure all of our work is delivered to the highest standards.

 

The charge-out rates will be along the lines of those of similar staff at medium-to-large firms of accountants. However, our rates will certainly be significantly cheaper than with the ‘big-4’ firms of accountants.

 

Ordinarily, we will be able to estimate the costs of specific work from the start of any exercise, to aid with budgeting. Often the actual fee chargeable may even be slightly less than the quote, due to our efficiencies. However, if the costs are likely to exceed the original estimate – often due to further necessary work coming to light - we would always advise you of the estimated additional costs and gain your approval before proceeding.

 

Often, we work on a ‘contingency basis' in other words ‘no savings, no fee’. We will advise you when such a fee basis is appropriate and agree with you our fee based on a percentage of savings or benefits obtained - providing a risk-free approach for your organisation.

 

Our fees are normally payable in three tranches.

 

1. 25% payable, if the fee is invoiced when a claim is made to HMRC. (Of course, this is refundable if the claim ultimately is incorrect or unsuccessful).

2. A further 25% is payable once it has been approved by HMRC.

3. The final balance once the repayment has been received, or benefit obtained.

 

We find that this approach is fair to all concerned.