6. Commission and Other Benefits
6.1 We may receive commission or other benefits for introductions to other professionals or in respect of transactions which We will arrange for You.
6.1.1 If this happens and We retain such commissions:
6.1.1.1 We will notify You, in writing, in advance where possible of the amount and terms of payment of any such commissions or benefits You consent to such commission or other benefits being retained by Us without Us being required to account to You for any such amounts. The Fees You would otherwise pay will not be reduced by the amount of commissions.
6.1.1.2 Where advance notification is not possible, we will inform you in writing, within 2 months of receipt of such commission, of the amount, terms of payment of any such commissions or benefits to Us and request Your consent to retain such commission or other benefits. If you do not provide your consent, We will write to You again after 30 days, if no response is received if again after a further 30 days , we will write to you, one final time to give You a final 7 days’ notice that we will retain such commission or benefits should You not respond to our correspondence. The Fee You would otherwise pay will not be reduced by the amount of commissions.
6.1.1.3 Where We continue to receive commission or other benefits in accordance with 6.1.1.1 and 6.1.1.2, We will not notify You again. If we receive commission which is more than double the amount of the commission previously notified to You, in these circumstances, We will notify You of the revised amount and frequency (if applicable) and follow the process set out in 6.1.1.2 in order to obtain Your consent to Our retention of such commission.
6.1.1.4 This link: https://www.azets.com/en-uk/azets-policies/commissions-from-preferred-partners shows examples of likely commissions that may be received by Us and the likely amounts. These are examples only and may not cover all receipts in the future.
6.1.2 If this happens and a fiduciary relationship exists:
6.1.2.1 the fees You would otherwise pay may be reduced by the amount of the commissions or other benefits We actually receive and, We will, where applicable, apply the HMRC concession that allows VAT to be calculated on the net fee after deduction of that commission or other benefit.