Client Referral Scheme Terms & Conditions
Here is the fine print on our Client Referral Scheme
- Last updated: 22 November 2021
1.1 The Client Referral Scheme (the “scheme”) is effective from the 19th of November 2021.
1.2 Any referrals before this date are not eligible for the scheme.
1.3 By providing a referral under this scheme, you are accepting the terms and conditions set out on this page.
2.1 This scheme is only open to active clients. An active client is an individual, or business who has signed an engagement letter with us, completed the on-boarding process, and works with us on an ongoing basis (monthly invoicing), with invoices settled through a Direct Debit mandate.
2.2 Exceptions to this may be granted on a case-by-case basis as agreed by one of the Directors.
2.3 Your participation in the scheme is forfeit if you cease to be an active client, including but not exclusive to disengagement initiated by either party.
2.4 Confirmation needs to be received both from the referral and the client as to the link between client and referral.
2.5 Whilst it is acceptable to advise of a potential referral verbally, written confirmation must be received from us by all parties that we acknowledge the referral before the referral approves their proposal, in order to be entitled to the fee reduction.
3.1 A successful referral has to meet the following criteria:
a) The referral is of good standing and follows the principles set out in our work ethic policy.
b) There are no technical, professional, or legal issues preventing us from providing services to the referral.
c) They sign an engagement letter and agree on fees.
d) Fees agreed with us are worth at least £300 exclusive of VAT, earned within one year from the date of signing the engagement letter.
e) Fees are paid to us in full promptly by the due date set on the invoice.
f) The referral is not either an existing client, a former client, a related party, or part of a wider special arrangement agreed upon.
3.2 You can refer multiple people, however, the value of the incentive is capped (see 4.5).
Value of the incentive
4.1 The value of the incentive is based on 10% of the fees agreed with the referral that is earned and paid over a one-year period from the point of engagement. These fees are exclusive of VAT.
4.2 This value will be calculated based on the value of work estimated to be completed and invoiced during this initial year, but paid out only upon receipt of fees.
4.3 Additional fees following this engagement for additional services, or changes in services not originally agreed will not count towards the value of this incentive and the value of the incentive will remain the same throughout the year.
4.4 If the referral’s fees are subsequently reduced, any referral amount provided is reduced commensurately.
4.5 The value of the incentive and all incentives in total will be capped at 50% of your monthly fees.
Award of the incentive
5.1 Any incentives earned will be awarded by means of a discount of your monthly accounting fees by the value of the incentive.
5.2 These discounts will be applied once we have received funds that have cleared from the referral and become effective from your next invoice.
5.3 Discount value can be up to 50% of your fees depending on the value of the incentive ref
5.4 If our relationship with the referral ends, incentive discounts will cease.
5.5 If we subsequently have to refund fees paid to us from the referral, we reserve the right to reverse the incentive granted and recover these costs from your next invoice.
5.6 You will be provided with a statement regarding referral incentives received each month in conjunction with your invoice.
5.7 We reserve the right to withhold any incentive discounts due to either party without reason or explanation.
Termination and alteration of the scheme
6.1 We reserve the right to terminate the client referral scheme and withhold discounting without notice.
6.2 We reserve the right to alter the scheme without notice.