Annual Fee Review Update

Accountancy, News,

Within our standard terms and conditions, we mention an annual fee review on the 1st April.

In February 2020 we warned clients that we’d need to increase our fees slightly from 1st April 2020, despite avoiding doing so the year before. We needed to take account of inflation and price increases from our suppliers, but kept the increase as low as we possibly could.

And then COVID hit!

In March 2020 we decided not to implement the planned fee increase for 2020.

There was plenty going on, and enough uncertainty and worry that we didn’t want to make things worse. The amount of our fee increase wasn’t going to solve the upheaval, worry and uncertainty that surrounded us all as the prospect of the first Lockdown hit, but someone once said that ‘every little helps’, and the last thing we wanted to do is add to anyone’s stress levels!

We’re going to take the same approach this year, and leave our fees at the same level for now.

We’ll review the situation again on the 1st July. If we do come out of lockdown and experience an economic ‘bounce’, then at that point we’ll make the decision whether or when to review our fees, but please rest assured we’ll give you plenty of warning if we do.

Our stance around COVID advice also remains unchanged.

We won’t charge for conversations around the various support options or any related areas unless we need to invest a considerable chunk of time, to help with implementation of forecasting for example, in which case we would warn you in advance.

So far we haven’t raised any additional fees in relation to the support and advice we’ve provided around the pandemic, despite having provided a huge amount to clients and contacts.

If you have any questions around any of the above, any of the ongoing support options or anything else around your affairs, please give us a call or pop over an email.

In the meantime, please, do your best to stay well and do keep in touch.

 

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