Partnership accounts

This schedule sets out the scope of services we will provide.

The purpose of this schedule is to clearly define what is and is not included in the scope of our work.

This schedule should be read in conjunction with our engagement letter and our standard terms of business.

As part of our agreed services, we will:

• Prepare annual partnership accounts in accordance with applicable UK accounting standards and on the basis agreed with you
• Prepare a profit and loss account and balance sheet for the partnership for the relevant accounting period
• Prepare a partners' capital and current account summary showing each partner's share of profits, drawings, and closing balances
• Use the finalised accounts as the basis for completing the Partnership Tax Return (SA800) – see schedule of services 'Partnership Tax Return'
• Notify you of any matters arising from the preparation of the accounts that require your attention
• Provide accounts in digital or printable format for approval and record-keeping

Please note: this list is not exhaustive. Any work not specifically listed under "Included work" is deemed outside the scope of this engagement unless we have expressly agreed otherwise in writing.

Where additional work is required, we will advise you of the scope, our proposed fee, and obtain your agreement before proceeding.

The following work is outside the scope of this service unless separately agreed in writing:

• Preparation of management accounts or cash flow forecasts
• Bookkeeping or processing of underlying records to produce figures suitable for accounts preparation
• Preparation or submission of the Partnership Tax Return (SA800) – see separate schedule of services
• Preparation of individual partners' Self-Assessment tax returns (SA100)
• Tax planning or advisory work relating to the partnership or its partners
• Adjustments arising from incomplete, disorganised, or missing records
• Rectification of historical errors in previous years' accounts
• Advice on VAT, PAYE, or other compliance obligations of the partnership
• Extended support in the event of an HMRC enquiry or investigation

Please note: this list is not exhaustive. Any work not specifically listed under "Included work" is deemed outside the scope of this engagement unless we have expressly agreed otherwise in writing.

Where additional work is required, we will advise you of the scope, our proposed fee, and obtain your agreement before proceeding.

You agree to:

• Provide complete and accurate records for the accounting period in a timely manner
• Ensure all partnership income, expenditure, and drawings are accurately recorded and supported by appropriate documentation
• Notify us of any changes to the partnership's structure, partners, or profit sharing arrangements that may affect the accounts
• Review and approve the accounts before they are used as the basis for any tax filings

Please note: you remain legally responsible for the accuracy of the accounts and for ensuring they fairly reflect the partnership's financial position.

We agree to:

• Prepare the partnership accounts with reasonable care and skill based on the information and records you provide
• Ensure the accounts are prepared in accordance with relevant financial reporting standards and on a basis consistent with prior years, unless otherwise agreed
• Keep you informed of any concerns or issues identified in the course of our work
• Maintain confidentiality and data security in line with applicable legislation

Please note: we do not act as auditor and our accounts preparation work should not be relied upon to detect fraud or error.