Ongoing monthly subscription fee – £29.00/month (excl. VAT).

1. What does this cover?

This is the monthly fee that GetGround charges on an ongoing basis. Through the GetGround Platform and the appointment of GetGround as company secretary and corporation tax agent we provide the following services as part of your subscription:

• GetGround Platform

• Manage all of your portfolio in one place
• Access to investment properties via our property marketplace
• Access to:
• mortgages designed for limited companies; 
• furniture packs; and 
• lettings and property management,

          via our trusted partners

• Business account 

• Provision of a business account with UK account number and sort code
• Provision of an international account with IBAN and BIC for international transfers into the business account (if required) 
• Currency conversion services (if required) 

• Annual Accounts
• Preparation and filing of end-of-year company accounts each accounting year
• Webinars with the accounting team to assist with common questions about company accounts and to run through the GetGround process

• Tax filings
• Preparation and filing of annual company tax returns each accounting year
• Preparation and filing of Annual Tax on Enveloped Dwellings (ATED) return (if required)

• Dividend administration 
• Provision of all dividend documentation, including board minutes and dividend vouchers, to enable dividends to be paid to the shareholders of the company

• Property change requests 

• Support with changes to property details pre-completion – this enables you to easily update your owner’s loan amount and includes board resolutions approving the purchase of the property by your company

• Registered and correspondence office address

• Acting as the registered address and correspondence address for the company, director(s) and any persons with significant control

• Post management 

• Receiving, scanning and uploading all company post to your GetGround account

• Maintenance of statutory registers 
• Each company is ‘proofed’ at Companies House to protect your company from unauthorised or fraudulent changes to your records
• Annual confirmation statement filing
• Companies House filings regarding changes to company details, including changes in director(s), shareholder(s) and persons with significant control

• Customer support line
• Dedicated customer support line for queries in respect of your company  

2. What does the subscription fee not cover?

Terminations

Offboarding and Voluntary Strike-Off

Whether you would like to strike off your company or keep it and simply leave the GetGround Platform we will assist you to do so.

We charge an administration fee of £199 (+ VAT) for all terminations*. We will carry out the following services, as applicable:

• Filings with Companies House;
• Updating the registered address and correspondence address for the company, director(s) and any persons with significant control;
• Change of company name to a name of your choice;
• Corporate authorisations required to implement the necessary changes;
• Resignation of GetGround as company secretary; and
• Liaise with any third parties as required.

*If you are dissolving your company after selling your property and wish to extract funds from the company, additional services may be required including an additional set of accounts for the company. Terminations in this instance will incur a fee of £349 (+ VAT). In the event a company has more than £25,000 in retained profit additional third party charges may apply - we will be able to discuss this with you at the time.

Compulsory Strike-Off

In the event that Companies House takes action to strike your company from the Companies House register due to inaction by the directors or shareholders of the company (for example, because accounting documents were not submitted or signed on time) we can help to stop this process by discontinuing the strike-off with Companies House. We charge a fee of £79 (+ VAT) for this service.

Company Restoration

In the event that Companies House strikes your company from the Companies House register we can help to restore your company.

We charge a fee of £799 (+ VAT) for this service. We will carry out the following on your behalf:

• Liaising with Companies House to confirm the fees and documents that are required to be submitted for your company restoration application;
• Drafting your company restoration application form and any additional forms that are required;
• Arranging for all documents to be posted to Companies House for processing; and
• Managing the payment of fees and late filing penalties with Companies House.

Please note that, depending on your company's circumstances, there may be additional third party fees which are payable in addition to GetGround’s fee. Such fees may include:

• Companies House administrative restoration filing fees;
• Companies House late filing penalties if your company’s accounts are overdue (if applicable);
• HMRC late filing penalties if your company's tax return has not been filed (if applicable); and
• Government Legal Department fees.

For further details on the company restoration process please visit our FAQs page.

Process Agent

The role of the process agent is to accept legal proceedings on behalf of a party that has submitted to the jurisdiction of the English courts but does not have a registered office within the jurisdiction. 

As the registered office located in England and Wales of each GetGround company, we are well placed to act as the process agent for an international shareholder if required and regularly act in this capacity for many of our customers who use mortgage finance. 

We always advise letting us know as soon as possible when you decide to go ahead with your mortgage if you need us to act as a process agent as not having a process agent can often hold up mortgage completions.

We charge an annual fee of £200 (+ VAT) to act as a process agent and this covers all shareholders of a GetGround company who require the service. This includes the preparation of an appointment letter and a letter confirming the appointment to your lender as well as the ongoing annual service.

Share Transfers 

We can assist with a change to the share structure of your company.

Transferring shares is different depending on whether you have completed the purchase of your property or not. More information on the share transfer process and pricing can be provided upon request.

Please contact gethelp@getground.co.uk if you require a share transfer.

Company Change of Name

Once your company set-up is complete you are able to request a change to the name of your company at any time.

We charge a fee of £99 (+ VAT) to change the name of your company or £199 (+ VAT) if you require same-day service.

Owner Loan Agreement Amendments

We can prepare an amended owner loan agreement in order to add an annual interest rate and facilitate the corresponding annual preparation and filing of the CT-61 form. We can provide the amended agreement for £200 (+ VAT) and the CT-61 filings for an annual fee of £200 (+ VAT).

Any other amendments to the owner loan agreement would be an Additional Service that we are happy to discuss with you and agree a fee for if required.

Intercompany Loan Agreement

We are aware that some of our customers wish to make a loan from a company they own to their GetGround company to assist with the purchase of a property.

We are able to provide a standard intercompany loan agreement for this purpose and input the details as instructed to reflect this. We can provide the agreement for £200 (+ VAT).

If you require an annual interest rate to be included in your intercompany loan agreement then additional accounting work may be required and we charge an annual fee of £200 (+ VAT) for this service.


Letters to Third Parties

Should you require a letter from GetGround as company secretary or Terranova Accounting Limited (Company Number: 13371285) as accountant we are usually able to provide this for a fee of £79 (+ VAT). 

Accounting Services

Amended Accounts

Once your accounting documents have been submitted we will draft the accounts for you to review, this usually takes 3/4 weeks. If you require an amendment to your accounts we provide one amendment free of charge for every set of accounts. 

However, if once you have been sent the revised accounts for review you then require a further amendment there is a fee of £149 (+ VAT) for each amendment that requires the accounts to be redrafted. 

This fee is not charged if any amendment is required due to an error on the part of GetGround or its accounting partners. 

Expedited Accounts

GetGround will prepare, send to you for review and once signed, file your company accounts and tax return before the filing deadline date. We do however deal with such high volumes of accounts that we can only expedite or make changes to our standard processes by exception and for a fee of £249 (+ VAT) for each set of accounts that are required to be expedited. 

Provided we have all of the necessary documents we are able to provide the accounts for review within three working days. 

Please get in touch with us as soon as possible by emailing gethelp@getground.co.uk if you require expedited accounts for any reason. 

Late Submission of Accounting Documents or Filing after the Deadline

All GetGround companies are able to submit their accounting documents 9 months prior to the filing deadline. GetGround will also send email reminders and a ‘Task’ will appear on the dashboard of every company that needs to file accounts.

In the event that you submit your documents and there is less than 6 weeks left between when they were submitted and the filing deadline or you require us to prepare and file the accounts after the filing deadline, we treat these accounts as needing to be expedited and therefore apply the same fee of £249 (+ VAT) to prepare these accounts.

We will also liaise with Companies House on your behalf where necessary.

Refiling Accounts

There are some scenarios in which customers need to restate and refile their filed accounts, we charge a fee of £249 (+ VAT) to prepare and file restated accounts.

Consultations

Any customer can use our dedicated support team and ask questions about their accounting process, documents or draft accounts. We also have a large amount of customer resources and run free webinars for all of our customers throughout the year. 

We do however understand that some customers require additional support from the accounting team with their accounts. We are able to provide this support in the form of a call with an accountant for an hourly rate of £249 (+ VAT). 

Other Services

If you do not see the service that you need listed here please contact gethelp@getground.co.uk and let us know. We are always happy to discuss requirements and try to assist wherever possible. 

Business Account Transaction Fees

There are fees associated with Business Account transactions. The fees are as follows:

• £7.50 for inbound GBP payments of £50 or more made via CurrencyCloud or CHAPs

• £25 for outbound payments of £10,000 or above

Transactions that will not incur any fees include:

• Non-GBP payments received via CurencyCloud (i.e. payments made to be converted in CurrencyCloud)

• Inbound payments that are not CHAPs or GBP through CurrencyCloud

These fees cover the costs incurred by GetGround to facilitate these transactions.

GetGround does not provide legal, tax or accounting advisory services or any other professional advice. You should be satisfied that any product or service is suitable for you in light of your financial position and investment objectives and, where necessary, you should seek appropriate independent advice in advance of making any investment decisions.

GetGround may amend this handbook by placing a new version of this handbook on the GetGround Platform and/or GetGround website, and where possible will give you notice that a change has been made. You should periodically check the GetGround Platform and/or GetGround website for updates to this handbook. You will be deemed to have accepted any updates or amendments to this handbook if you continue to use the GetGround Platform after such updates or amendments have been placed on the GetGround Platform and/or GetGround website.