Yes. As with any accountant, appointing Livy does not transfer your
statutory responsibilities. Company directors remain legally responsible
for the company’s records and accounts. As a taxpayer, you remain
responsible for your own tax, including providing accurate information,
approving returns and paying what is due.
We have our own responsibility to you: to perform the work we agree to
undertake with reasonable care and skill. We prepare your accounts and
returns, explain what needs your attention and submit with your approval.
We can be liable if we fail to meet that standard, subject to the law and
the terms of your engagement. Your continuing duties do not remove ours.
We will have professional indemnity insurance in place before we begin
client accountancy work. Your engagement letter will set out the scope
of our work and any agreed liability cap. Insurance does not guarantee
that every loss or penalty is covered.
See HMRC’s guidance on appointing an agent,
GOV.UK’s guidance on directors’ responsibilities
and our Terms of business.