Terms and Conditions
Streamlined Accounting (v13)
These Terms and Conditions apply to all engagements and are incorporated by reference into the Engagement Letter.
1. Introduction and Interpretation
1.1. Introduction: These terms set out the legal and operational framework for our engagement. By signing the Engagement Letter, you agree to be bound by these terms.
- "Engagement Letter" means the document signed by the Client confirming scope, key dates, and fees.
- "We", "us", "our" refers to Streamlined Accounting.
- "You", "your", "Client" means the entity named in the Engagement Letter.
- "IRD" means Inland Revenue New Zealand.
2. Scope and Nature of Services
2.1. Compliance Services: The specific services are listed in the Engagement Letter. Where we prepare financial statements, this is a Compilation Engagement performed in accordance with Service Engagement Standard No. 2 (SES-2) issued by the New Zealand Institute of Chartered Accountants and the minimum requirements of the Tax Administration (Financial Statements) Order 2014. They are Special Purpose Financial Statements prepared solely for the purpose of complying with your tax obligations and for submission to Inland Revenue.
2.2. No Audit or Assurance: In a compilation engagement, we collect and classify information without independent verification or audit. We do not express an audit opinion or a review conclusion. A Compilation Report disclaiming liability will be attached to the final statements.
2.3. Excluded Services: This engagement explicitly excludes management accounting, budgeting, business advisory, payroll processing, statutory audits, specialist tax advice, and legal drafting.
2.5. Additional Billable Services: Lending reports (e.g., cashflow statements, forecasts), amendments to prior-year returns, and assistance with client-caused IRD audits are available only as separate, billable engagements.
3. Your Obligations
3.1. Data Feeds: You agree to maintain active and uninterrupted bank feeds of all your business bank accounts and/or credit cards in your accounting software. If not set up, you authorise us to establish a subscription and bank feeds on your behalf.
3.2. Timely Responses: You agree to respond to our clarification requests within five (5) working days.
3.3. Accuracy of Information: You are solely responsible for the accuracy and completeness of all source documents and information provided to us.
3.4. Statutory Obligations: You remain legally responsible for paying all tax, penalties, and interest to Inland Revenue by the due dates. We do not receive, hold, or pay client tax funds.
3.5. Identity Verification: You agree to provide all information required to comply with the Anti-Money Laundering and Countering Financing of Terrorism Act 2009. Failure to provide this voids the engagement.
4. Communication Policy
4.1. Digital-First Practice: Our primary methods of communication are Email (correspondence/notices), our Secure Portal (document sharing/transaction queries), and SMS (urgent reminders). Face-to-face meetings are not included in our fixed-fee structure.
4.2. Consent: You consent to receiving electronic messages for these purposes.
4.3. Written Notices: Any formal notice required under this agreement must be given by email to the address recorded in the receiving party's profile. You are responsible for ensuring your recorded email address remains current.
5. Fees & Payments
5.1. Fees: Specific fees are set out in the Engagement Letter. Out-of-scope work is charged at our standard hourly rate as in the Engagement Letter.
5.2. Payment: Initial fees (Setup and Historical Catch-Up) are processed immediately upon acceptance via our secure website checkout. You authorise us to deduct subsequent monthly subscription fees automatically by Direct Debit on the 20th of each month.
5.3. Service Suspension for Non-Payment: If a payment fails, our services are automatically suspended. We will not prepare returns, act as your tax agent, or monitor IRD communications. Responsibility for compliance reverts to you. We accept no liability for IRD charges arising from suspension.
5.4. Billing Period: The monthly subscription is a fixed charge for a full calendar month of service. Subscription billing commences strictly on the first day of the calendar month following your sign-up date (as the sign-up month is covered by the Catch-Up fee). Termination takes effect on the last day of the billing month in which the 30-day notice period expires.
5.5. Non‑Refundable Fees: All fees paid up to the effective date of termination are non-refundable. Monthly fees cover the provision of ongoing compliance services and system availability, not solely the final filing of deliverables.
- A one-off "Historical Data Catch-Up Fee" applies. This covers the retroactive data ingestion and classification from the start of the relevant financial/tax period up to and including the calendar month in which you sign up.
- This fee does not cover the refiling or amendment of prior returns unless explicitly agreed as a separate service.
6. Price Adjustments
6.1. Usage-Based Review: We review your transaction volume and turnover at the end of each calendar quarter.
6.2. Upward Adjustment: We may move you to the appropriate higher tier if either:
(a) your average monthly transaction volume during the review quarter exceeds your current plan limit; or
(b) your total turnover for the preceding rolling 12-month period exceeds your current plan limit.
We will provide at least 21 days' written notice. The new price takes effect on the first day of the billing month following the expiry of the notice period.
6.3. Downward Adjustment: If both your transaction volume and turnover remain within a lower tier's limits for a full 12-month period, you may request a review for a downward adjustment.
6.4. General Price Reviews: For any general subscription fee change, we will give 30 days' written notice.
6.5. Right to Reject: You may reject any price increase by giving written notice within 14 days of the notification. Rejection acts as a notice of termination under Clause 12.
7. Authority to Act
You agree to sign an IRD-compliant Authority to Act form, authorising us to link your IRD number to our agency list, access your tax information, and file returns on your behalf.
8. IRD Audit & Risk Review Policy ("Fair Use")
From time to time the Inland Revenue Department may conduct audits, risk reviews, information requests, investigations, or other compliance activities relating to your tax affairs. These processes may require us to provide explanations, documentation, or correspondence with Inland Revenue regarding tax returns, financial statements, or other information prepared as part of our engagement.
8.1. Our Error:
We will manage the response to any audit or review directly caused by our error at no professional cost to you.
You are responsible for all tax, penalties, interest, and professional fees (charged at our standard hourly rate) where an audit, risk review, or other compliance activity arises from:
- (a) incorrect, incomplete, or misleading information provided by you;
- (b) undeclared income, omitted transactions, or unsupported deductions;
- (c) your failure to meet your obligations under this agreement; or
- (d) matters relating to periods, records, or transactions outside our engagement or outside our control.
8.3. Random / No-Fault Review:
For random reviews where no fault is identified, we provide the first three (3) hours of professional time at no charge. Additional time is billable.
8.4. Determination of Cause:
The classification of a review under this clause will be determined by us acting reasonably and in good faith based on the circumstances and the information available at the time. Nothing in this clause limits our responsibilities under professional standards or applicable law.
9. IRD Penalty & Interest Guarantee
9.1. Our Commitment: If the Inland Revenue imposes penalties or use-of-money interest directly as a result of an error made by us in the preparation or filing of a return covered by this engagement, and you have complied with your obligations under Clause 3, we will assist you in requesting remission from Inland Revenue.
If remission is declined and the penalties or interest were solely caused by our error, we will IRD directly for the amount of those penalties or interest up to our Liability Cap.
9.2. Liability Cap: Our total liability under this guarantee is limited to three (3) times the monthly fees paid by you in the twelve (12) months preceding the incident.
- Your late or incorrect information;
- Your selection of "Prioritise Accuracy" (leading to a filing delay);
- Service suspension for non-payment;
- Your failure to pay tax on time;
- Onboarding Buffer: Returns where the statutory deadline falls within thirty (30) days of your Engagement Commencement Date;
- Historical Data: Returns relating to a period prior to your Engagement Commencement Date;
- Outcomes arising from reasonable professional judgement or differences in technical interpretation.
10. General Limitation of Liability
10.1. Business Purpose: You are acquiring our services for business purposes; the Consumer Guarantees Act 1993 does not apply.
10.2. No Third-Party Reliance: Our work (including financial statements) is prepared solely for your internal use and IRD compliance. It is not suitable for lending, business sales, or investment decisions. We accept no liability to any third party who relies on our reports.
10.3. General Cap on Liability: To the maximum extent permitted by law, our total aggregate liability to you for any claim arising out of this engagement (whether in contract, tort, negligence, or otherwise) is limited to three (3) times the total fees paid by you in the twelve (12) months preceding the claim.
11. Data Use and Privacy
11.1. Data Processing: You authorise us to process your data using automated systems and secure third-party providers.
11.2. Privacy: We handle all personal information in accordance with the Privacy Act 2020.
12. Termination
12.1. Notice: Either party may terminate this engagement by giving 30 days' written notice. Termination takes effect on the last day of the billing month in which the 30-day notice period expires.
12.2. Post-Termination: Upon termination and settlement of all outstanding fees, we will provide a reasonable export of your accounting data. Our internal workpapers, systems, and intellectual property remain our property.
13. General
13.1. Entire Agreement: These Terms and Conditions, together with the Engagement Letter, constitute the entire agreement.
13.2. Governing Law: This engagement is governed by the laws of New Zealand.