Terms & Conditions of Business

  

1. Applicable Law 

Our standard terms and conditions of business are governed by, and should be construed in accordance with English law jurisdiction. Each party agrees that the courts of England will have exclusive jurisdiction in relation to any claim, dispute or difference concerning any engagement and any matter arising from it. Each party irrevocably waives any right to object to any action being brought in those Courts, to claim that the action has been brought in an inappropriate forum, or to claim that those Courts do not have jurisdiction.


2. Client identification 

As with other professional services firms, we are required to identify our clients for the purposes of the UK anti-money laundering legislation. We may request from you, and retain, such information and documentation as we require for these purposes and/or make searches of appropriate databases.


3. Client money 

We may from time to time hold money on your behalf. Such money will be held in trust in a client bank account, which is segregated from the firm’s funds. The account will be operated, and all funds dealt with, in accordance with the Clients' Monies Rules of the ICAEW.


4. Commissions and other benefits 

In some rare circumstances we may receive commissions or other benefits for introductions to other professionals or in respect of transactions that we arrange for you. Where this happens you will be notified in writing of the amount and terms of payment, and receipt of any such commissions or benefits. 


5. Complaints 

We are committed to providing you with a high quality service that is both efficient and effective. However, should there be any cause for complaint in relation to any aspect of our service please contact Paul Startin at PS Accountancy & Taxation Services Limited. We agree to look into any complaint carefully and promptly, and do everything reasonable to put it right. If you are still not satisfied you can refer your complaint to our professional body, The Institute of Chartered Accountants in England and Wales (ICAEW).


6. Confidentiality 

Communication between us is confidential and we shall take all reasonable steps to keep confidential your information, except where we are required to disclose it by law, by regulatory bodies, by our insurers or as part of an external peer review. Unless we are authorised by you to disclose information on your behalf, this undertaking will apply during and after this engagement. 


We may, on occasion, subcontract work on your affairs to other tax or accounting professionals. The subcontractors will be bound by our client confidentiality terms.

We reserve the right, for the purposes of promotional activity, training or for similar business purpose, to mention that you are a client. As stated above we will not disclose any confidential information. 


7. Conflicts of interest 

We will inform you if we become aware of any conflict of interest in our relationship with you or in our relationship with you and another client. We have safeguards that can be implemented to protect the interests of different clients if a conflict arises. Where conflicts are identified that cannot be managed in a way that protects your interests then we regret that we will be unable to provide further services. If this arises, we will inform you promptly. 


If there is a conflict of interest that is capable of being addressed successfully by the adoption of suitable safeguards to protect your interests then we will adopt those safeguards. Where possible this will be done on the basis of your informed consent. We reserve the right to act for other clients whose interests are not the same as or are adverse to yours subject, to the obligations of confidentiality referred to above. 


8. Data Protection 

We confirm that we will comply with the provisions of the General Data Protection Regulation (GDPR) when processing personal data about you.


Processing means:

· obtaining, recording or holding personal data; or

· carrying out any operation or set of operations on personal data, including collecting and storage, organising, adapting, altering, using, disclosure (by any means) or removing (by any means) from the records manual and digital.


The information we obtain, process, use and disclose will be necessary for:

· the performance of the contract

· to comply with our legal and regulatory compliance and crime prevention 

· contacting you with details of other services where you have consented to us doing so

· other legitimate interests relating to protection against potential claims and disciplinary action against us.


This includes, but is not limited to, purposes such as updating and enhancing our client records, analysis for management purposes and statutory returns. To assist us in doing so, we request our clients to complete a 'Client Details' form.


In regard to our professional obligations we are a member firm of the ICAEW. Under the ethical and regulatory rules of the ICAEW I am required to allow access to client files and records for the purpose of maintaining our membership of this body.


Further details on the processing of data are contained in our privacy policy, which should be read alongside these terms and conditions.


9. Disengagement 

Should we resign or be requested to resign we will normally issue a disengagement letter to ensure that our respective responsibilities are clear. 

Should we have no contact with you for a period of 18 months or more we may issue to your last known address or email a disengagement letter and thereafter cease to act. Alternatively, we will assume that you no longer wish us to act on your behalf.


10. Electronic and other communication 

Unless you instruct us otherwise we may, where appropriate, communicate with you and with third parties via email, text, or by other electronic means. The recipient is responsible for virus checking emails and any attachments. 


With electronic communication there is a risk of non-receipt, delayed receipt, inadvertent misdirection or interception by third parties. We use virus-scanning software to reduce the risk of viruses and similar damaging items being transmitted through emails or electronic storage devices. However electronic communication is not totally secure and we cannot be held responsible for damage or loss caused by viruses nor for communications that are corrupted or altered after despatch. Nor can we accept any liability for problems or accidental errors relating to this means of communication especially in relation to commercially sensitive material. 


These are risks you must agree to bear in return for greater efficiency and lower costs. If you do not wish to accept these risks please let us know and we will communicate by paper mail, other than where electronic submission is mandatory. 

Any communication sent through the post system by us is deemed to arrive at your postal address two working days after the day that the document was sent.

 

11. Fees and payment terms 

Our fees do not solely depend on the amount of time spent on your affairs. Levels of skill, responsibility, importance and value are also factors, as well as the level of risk.


If we provide you with an estimate of our fees for any specific work, then that estimate will not be contractually binding unless we explicitly state that will be the case. 


Where requested we may indicate a fixed fee for the provision of specific services or an indicative range of fees for a particular assignment. It is not our practice to identify fixed fees for more than a year ahead as such fee quotes need to be reviewed in the light of events. If it becomes apparent to us, due to unforeseen circumstances, that a fee quote is inadequate, we reserve the right to notify you of a revised figure or range. 


In some cases, you may be entitled to assistance with your professional fees, particularly in relation to any investigation into your tax affairs by HMRC. Assistance may be provided through insurance policies you hold or via membership of a professional or trade body. Other than where such insurance was arranged through us, you will need to advise us of any such insurance cover that you have. You will remain liable for our fees regardless of whether all or part are liable to be paid by your insurers. 

  

We will bill you on completion of an assignment or task and all our invoices will be due for payment on date of invoice. Where an email address has been provided by a client, all invoices are sent via email to the latest email address that has been provided. We ask that you keep us updated with any changes to your contact details, including email addresses, telephone numbers and addresses. Any disbursements we incur on your behalf, any expenses incurred in the course of carrying out our work for you and any additional financial advice provided in the meantime will all be added to our invoices as appropriate. 


Unless otherwise agreed to the contrary our fees do not include the costs of any third party, counsel or other professional fees. Additional financial advice is charged at £75 per hour. From 1st October 2018, all of our invoices will be subject to VAT and an additional 20% will therefore be added to any net fees.


We can arrange in advance for clients to pay by monthly standing order and to periodically adjust the monthly payment by reference to actual billings. The monthly amount will be calculated with reference to the ongoing cost of providing the services the client requires on an ongoing basis.


We reserve the right to charge statutory interest on late paid invoices - this is 8% plus the Bank of England base rate under the Late Payment of Commercial Debts (Interest) Act 1998. We also reserve the right to suspend our services or to cease to act for you on giving written notice if payment of any fees is unduly delayed. We will exercise these rights where it is fair and reasonable to do so. 


If you do not accept that an invoiced fee is fair and reasonable you must notify us within 7 days of receipt, failing which you will be deemed to have accepted that payment is due. 

In the case of a dispute over the level of fees charged we reserve the right to require that the matter is dealt with through arbitration. We recommend that arbitration is undertaken by the fee arbitration service provided by the ICAEW for its members. The fee arbitrator will be appointed by the ICAEW’s President and the fee will be as negotiated with the arbitrator.


12. Implementation 

We will only assist with implementation of our advice if specifically instructed to do so. 


13. Intellectual property rights 

We will retain all copyright in any document prepared by us during the course of carrying out the engagement, save where the law specifically provides otherwise. 


14. Interpretation 

In the event of any conflict between these terms of business and an engagement letter or appendices, the relevant provision in the engagement letter or schedules will take precedence.


15. Internal disputes within a client 

If we become aware of a dispute between the parties who own or are in some way involved in the ownership and management of the business, it should be noted that our client is the business and we would not provide information or services to one party without the express knowledge and permission of all parties. Unless otherwise agreed by all parties we will continue to supply information to the normal place of business for the attention of the proprietors. If conflicting advice, information or instructions are received from different principals in the business, we will refer the matter back to the partnership and take no further action until the partnership has agreed the action to be taken. 


16. Investment advice (including insurance mediation services) 

Investment business is regulated under the Financial Services and Markets Act 2000. 

If during the provision of taxation services to you, you need advice on investments, we may have to refer you to someone who is authorised by the Financial Conduct Authority. 


17. Lien 

Insofar as we are permitted to do so by law or professional guidelines, we reserve the right to exercise a lien over all funds, documents and records in our possession relating to all engagements for you, until all outstanding fees and disbursements are paid in full.


18. Limitation of liability 

We will provide our services with reasonable care and skill. Our liability to you is limited to losses, damages, costs and expenses directly caused by our negligence or wilful default. 


Exclusion of liability for loss caused by others 

We will not be liable if such losses, penalties, surcharges, interest or additional tax liabilities are caused by the acts or omissions of any other person or due to the provision to us of incomplete, misleading or false information or if they are caused by a failure to act on our advice or a failure to provide us with relevant information. 


Exclusion of liability in relation to circumstances beyond our control 

We will not be liable to you for any delay or failure to perform our obligations if the delay or failure is caused by circumstances outside our reasonable control. 


Exclusion of liability relating to the discovery of fraud etc. 

We will not be responsible or liable for any loss, damage or expense incurred or sustained if information material to the service we are providing is withheld or concealed from us or misrepresented to us. This applies equally to fraudulent acts, misrepresentation or wilful default on the part of any party to the transaction and their directors, officers, employees, agents or advisers. 


This exclusion shall not apply where such misrepresentation, withholding or concealment is or should (in carrying out the procedures which we have agreed to perform with reasonable care and skill) have been evident to us without further enquiry, beyond that which it would have been reasonable for us to have carried out in the circumstances. 

Indemnity for unauthorised disclosure.


You agree to indemnify us and our agents in respect of any claim (including any claim for negligence) arising out of any unauthorised disclosure by you or by any person for whom you are responsible of our advice and opinions, whether in writing or otherwise. This indemnity will extend to the cost of defending any such claim, including payment at our usual rates for the time that we spend in defending it. 


19. Limitation of Third Party rights 

The advice and information we provide to you as part of our service is for your sole use and not for any third party to whom you may communicate it unless we have expressly agreed that a specified third party may rely on our work. We accept no responsibility to third parties, for any advice, information or material produced as part of our work for you which you make available to them. A party to our agreement with you is the only person who has the right to enforce any of its terms and no rights or benefits are conferred on any third party under the Contracts (Rights of Third Parties) Act 1999. 


20. Period of engagement and termination 

Unless otherwise agreed, our work will begin when we receive your implicit or explicit acceptance of our engagement. We will not be responsible for periods before that date. 

Each of us may terminate any agreement by giving not less than 7 days notice in writing via post or email to the other party, except where you fail to cooperate with us or we have reason to believe that you have provided us or HMRC with misleading information, in which case we may terminate any agreement immediately. Termination will be without prejudice to any rights that may have accrued to either party prior to termination. 


In the event of termination of any contract, we will endeavour to agree with you the arrangements for the completion of work in progress at that time, unless we are required for legal or regulatory reasons to cease work immediately. In that event, we shall not be required to carry out further work and shall not be responsible or liable for any consequences arising from termination. 


21. Professional rules and statutory obligations 

We will observe and act in accordance with the bye-laws, regulations and ethical guidelines of the ICAEW and will accept instructions to act for you on this basis. In particular you give us the authority to correct errors made by HMRC where we become aware of them. We will not be liable for any loss, damage or cost arising from our compliance with statutory or regulatory obligations. 


22. Retention of papers 

You have a legal responsibility to retain documents and records relevant to your tax affairs. During the course of our work we may collect information from you and others relevant to your tax affairs. Any original documents are collected and then retained by you (or in exceptional circumstances may be hand delivered, or posted to you by recorded delivery and then retained by you). Documents and records relevant to your tax affairs are required by law to be retained as follows: 


Individuals, trustees and partnerships:

- with trading or rental income: five years and ten months after the end of the tax year 

- otherwise: 22 months after the end of the tax year 

Companies, LLPs and other corporate entities:

- six years from the end of the accounting period


Whilst certain documents may legally belong to you, we may destroy correspondence and other papers that we store, electronically or otherwise, which are more than seven years old. You must tell us if you require the return or retention of any specific documents for a longer period. 


23. The Provision of Services Regulations 2009 (‘Services Directive’) 

In accordance with our professional body rules, we are required to hold professional indemnity insurance. Details about the insurer and coverage can be found on our website at ps-accountancy.co.uk or at our office at Ferndene, Big Lane, Clarborough, Retford, Nottinghamshire, DN22 9LT.


These Terms & Conditions of Business were last updated on 3rd September 2018.