General terms and conditions that applies to fees.

1.  The fees and practices are those effective from 1st of December 2022 and replace all previously agreed fee arrangements.

2. All third party invoices will be for the account of the entity.

3. Disbursements are charged as a percentage of the annual and time based charges. This percentage may be amended from time to time without prior notification. It is currently charged at 20% of the annual fee.

4. Any cost relating to the collection of outstanding debt will be for the account of the Owner.

5. Fees and practices are regularly reviewed, in light of the effects of external influences, including, amongst others, inflation and regulatory requirements. Revisions to the fee scales may be made at any time and clients will be notified in writing that amendments to the fee schedules have been made. Registered Agent and Government Levies for companies incorporated in jurisdictions other than the Isle of Man are subject to change without notice.

6. An exit charge will apply as follows, subject to time spent:
• Company £900
• Trust £900
• Foundation £900

7. Turnstone reserves the right to withhold any service and/or documents of any company, trust or foundation in a group or structure related to the Managed Entity until such times as all outstanding amounts are paid for all entities in the group/structure.

8. It is the practice that Turnstone keeps a deposit in the Client Account in lieu of future fees and to settle invoices when they are due and payable.

9. Invoices are due on presentation.

10. Turnstone is allowed to settle any outstanding invoice from any funds held. We aim to give notice of the outstanding amount at least 1 week prior to settling the invoice.

11. Interest of 1% per month will be applied on all amounts outstanding for more than 60 days, applicable from the date of issue. Additional charge may be incurred due to late payment of invoices.

12. All fees are exclusive of VAT, which may be applied depending on the circumstances. The current VAT rate is 20%.

13. Turnstone regularly agrees individual fees based on the specific needs of the client. Should you wish to discuss this, please do not hesitate to contact us.

14.  The definitions stated in our Terms of Business applies to these terms and conditions.

15.  These terms and conditions should be read in conjunction to our Terms and Business.