TERMS OF BUSINESS
The following terms of business apply to all engagements accepted by Andon Frères. All work is carried out under these terms except where changes are expressly agreed in writing. Updated: 4th February 2016
Professional rules and practice guidelines
We will observe and act in accordance with the bye-laws, regulations and ethical guidelines of the Institute of Chartered Accountants in England and Wales and 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. You can see copies of these requirements in our offices. The requirements are also available on the internet at www.icaew.com/members handbook.
Investment advice
If during the provision of professional services to you, you need advice on investments, we may have to refer you to someone who is authorised by the Financial Services Authority or licensed by a Designated Professional Body, as we are not.
Commissions or other benefits
In some circumstances we may receive commissions or other benefits for introductions to other professionals or transactions we arrange for you. In this case, we will notify you in writing of the amount, the terms of payment and receipt of any such commissions or benefits.
Clients’ money regulations
We may, from time to time, hold money on your behalf. The 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’ Money Regulations of the Institute of Chartered Accountants in England and Wales. All client monies will be held in an interest-bearing account. To avoid excessive administration, interest will only be paid to you where you request this. Any unclaimed interest earned will be paid over to Wheatfields Hospice as a charitable donation in March. If the total sum of money held on your behalf is enough to give rise to a significant amount of interest or is likely to do so, then we will put the money in a designated interest-bearing client bank account and pay the interest to you. Subject to any tax legislation, interest will be paid gross.
Retention of records
During our work we will collect information from you and others acting on your behalf and will return any original documents to you following preparation of your financial statements/financial information and tax return. You should retain them for 6 years from the end of the accounting/31 January following the end of the tax year. You should retain them for longer if HM Revenue & Customs enquire into your tax return. Whilst certain documents may legally belong to you, unless you tell us not to, we intend to destroy correspondence and other papers that are more than seven years old, except documents we think may be of continuing significance. You must tell us if you wish us to keep any document for any longer period.
Conflicts of interest and independence
We reserve the right during our engagement with you to deliver services to other clients whose interests might compete with yours or are or may be adverse to yours, subject to the confidentiality paragraph below. We confirm that we will notify you immediately should we become aware of any conflict of interest involving us and affecting you.
Confidentiality
We confirm that where you give us confidential information, we shall at all times keep it confidential, except as required by law or as provided for in regulatory, ethical or other professional statements relevant to our engagement.
Data Protection Act 1998
To enable us to discharge the services agreed under our engagement, and for other related purposes including updating and enhancing client records, analysis for management purposes and statutory returns, crime prevention and legal and regulatory compliance, we may obtain, use, process and disclose personal data about you / your business / the company / the partnership / its officers and employees. We confirm when processing data on your behalf that we will comply with the relevant provisions of the Data Protection Act 1998.
Proceeds of Crime Act 2002 and Money Laundering Regulations 2007
In common with all accountancy and legal practices, the firm is required by the Proceeds of Crime Act 2002 and the Money Laundering Regulations 2007 to: have due diligence procedures for the identification of all clients; maintain appropriate records of evidence to support customer due diligence; and report in accordance with the relevant legislation and regulations.
Quality control
As part of our ongoing commitment to providing a quality service, our files are periodically reviewed by an independent regulatory or quality control body. These reviewers are highly experienced and professional people and, of course, are bound by the same rules for confidentiality as our principal and staff.
Help us give you the best service
We wish to provide a high quality of service at all times. If at any time you would like to discuss with us how our service to you could be improved, or if you are dissatisfied with the service you are receiving please let us know by contacting Anne Jones. We undertake to look into any complaint carefully and promptly and do all we can to explain the position to you. If we do not answer your complaint to your satisfaction you may of course take up the matter with the Institute.
Contracts (Rights of Third Parties) Act 1999
Only someone who is a party to this agreement has the right under the Contracts (Rights of Third Parties) Act 1999 to enforce any of its terms. This clause does not affect any right or remedy that exists independently of the Act. The advice we give you is for your sole use and is confidential to you and will not constitute advice for any third party to whom you may communicate it. We will accept no responsibility to third parties for any aspect of our professional services or work that is made available to them.
Fees
Wherever possible we will send you a quote for the work we are due to carry out prior to our commencing that work. If extra work needs to be undertaken that would involve additional fees we will advise you of the likely cost before that work is undertaken. Some work however cannot be quantified in this way. Any such work will be discussed with you prior to commencement and an appropriate agreement reached. Our fees are calculated on the basis of the time spent on your affairs by the principal and staff and on the levels of skill or responsibility involved. Our fees will be billed at appropriate intervals and will be due for payment when issued. We reserve the right to charge interest on overdue accounts at the current rate under the Late Payment of Commercial Debts (Interest) Act 1998. We also reserve the right to terminate our engagement and cease acting if payment of any fees billed is unduly delayed.
Limitation of liability
We will provide services as outlined in this letter with reasonable care and skill. However, to the fullest extent permitted by law, we will not be responsible for any losses, penalties, surcharges, interest or additional tax liabilities where you or others supply incorrect or incomplete information, or fail to supply any appropriate information or where you fail to act on our advice or respond promptly to communications from us or the tax authorities. You will not hold us responsible, to the fullest extent permitted by law, for any loss suffered by you arising from any misrepresentation (intentional or unintentional) supplied to us orally or in writing in connection with this agreement. You have agreed that you will not bring any claim in connection with services we provide to you against any of our partners or employees personally. Our work is not, unless there is a legal or regulatory requirement, to be made available to third parties without our written permission and we will accept no responsibility to third parties for any aspect of our professional services or work that is made available to them.
Provision of Services Regulations 2009
In accordance with the disclosure requirements of the Provision of Services Regulations 2009, my professional indemnity insurers are 25% AmTrust Europe Ltd Market Square House, St. James Street Nottingham NG1 6FG, 25% Allianz Global Corporate & Speciality SE Allianz Insurance Plc Koningstrasse 28 80802 Munchen Germany, 25% XL Catlin Syndicate 2003 Catlin Insurance Company UK Limited AXA XL 20 Gracechurch Street London EC3V 0GB and 25% Canopius (Syndicate 4444 – 65% & Syndicate 1861 – 35%) Floor 29, 22 Bishopsgate, London. EC2N 4BQ. The territorial coverage is worldwide, excluding professional business carried out from an office in the United States of America or Canada, and excludes any action for a claim brought in any court in the United States of America or Canada.
Communicating with you
We may communicate with you by email. As with other means of delivery this carries with it the risk of inadvertent misdirection or non-delivery. The recipient is responsible for carrying out a virus check on attachments. Internet communications may be corrupted, and, we accept no responsibility for changes to such communications after their despatch. It may therefore be advisable to get written confirmation of advice provided by email. We do not accept responsibility for any errors or problems that may arise through the use of the internet, and you must accept all risks connected with sending commercially sensitive information to you. If you do not accept this risk, you should notify us in writing that email is not acceptable to you.
Applicable law
Our engagement with you is governed by, and interpreted in accordance with, English law. The Courts of England shall have exclusive jurisdiction in relation to any claim, dispute or difference concerning our engagement letter and terms of business and any matter arising from or under them. Each party irrevocably waives any right it may have to object to any action being brought in those courts, to claim that the action has been brought in an inconvenient forum, or to claim that those courts do not have jurisdiction.