I'm just wondering if anyone has taken on a company secretary role for their clients?
I met with a self managing property group this morning to take on their bookkeeping & annual accounts/ return. I quoted them a monthly fee which I am very happy covers me substantially as the work is minimal and they are happy with the figure as they have previously been paying a chartered accountant more for year end work only.
However, they then asked me to take on the company secretary role. I agreed to include this at the same rate as I feel there is very little extra work involved. I was already going to attend the AGM so it is more just the legal responsibility of the role and maybe the odd form to fill out when property changes hands.
I'm just preparing my engagement letter now and while I don't wish to appear greedy as I feel my time is covered it has made me think that perhaps I should be charging more simply for having the extra legal responsibility.
I would be interested to hear your thoughts and perhaps how much, if anything you felt this extra responsibility is worth.
Many thanks
Valerie
__________________
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Hi Valerie
Half a response ftb, sorry dreadfully up against it!
1) Check with your licence provider - you will need to add this service, assuming they will allow it
2) Check with your PII provider - you absolutely must include this
Bear in mind
1) Conflicts of interest/ethics - eg self interest threats. You will be party to info you dont want to/shouldnt hear or involved in decisions that area threat to objectivity
2) You cannot be an auditor as well as co sec (pretty sure that doesnt count in your circs
3) Bear in mind you can be held as accountable as directors for breaches of the companies act - so you need to be fully versed in every aspect of what that entails. Plus be fully convresant with the AAs.
4) Pvt limiteds do not need co secretary any more, the work can be undertaken by a director, unless their AAs dictate they need one (and these can be changed if required). Public cos are different
5) You will be requried to sign legal documents for matters not just co house related - Bank paperwork, taxes paperwork, insurance...the list goes on.
__________________
Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
