1. Giving Advice
We will be pleased to advise on any accountancy, taxation or related matters referred to us. We would strongly encourage you to approach us before entering into any complex or unusual transactions or arrangements in order that we can assess the tax and other implications. We would also warn you that, because tax and some other areas of legislation and practice change frequently, you should ask us to review any advice already given if a transaction or arrangement is delayed, or if an apparently similar transaction or arrangement is to be entered into. Where you require advice on a matter which is actually or potentially contentious, has substantial financial or other implications or involves a separate report or significant time costs on our part, we may ask you to enter into a supplementary engagement agreement.
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All articles are authored by our team; however, we disclaim any and all liability for any loss, damage, or adverse consequences arising from the use or interpretation of the information provided.
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2. Regulation and Professional Indemnity cover
We are authorised and regulated by the Association of Accounting Technicians (AAT). Contact information and an English version of the code of conduct by which we are regulated can be found at: www.aat.org.uk. Our membership number is 20188454. We are also bound by a Code of Ethics which can be found at https://www.aat.org.uk/membership/standards-requirements/professional-ethics.
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3. Hours of Business and Contacting Us
The address of our main (and registered) office is 3 Horseshoe Haven, Bowling Green, St Austell, Cornwall, PL26 8RN. Our telephone number is +44 (0)7956965851 and e-mail address is info@simply-accounting.com. Our hours of business will normally be for between 9am and 5pm Monday to Friday. We are contactable at any time and available to see clients outside this time by prior appointment. If the person responsible for your case is not available immediately you may leave a message and we will return your call/email/message as soon as we are able.
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4. Data Protection
To enable us to discharge the services you have asked us to provide through our engagement, comply with related legal and regulatory obligations (Including the EU’s General Data Protection Regulation 2016) and for other related purposes including updating and enhancing client records and analysis for management purposes, as a data controller, we may obtain, use, process and disclose such personal data about you and/or your business or organisation as is consistent with the engagement. We confirm when processing data on your behalf that we will comply with the provisions of all relevant data protection legislation and regulation. Nothing within this engagement letter relieves you as a data controller of your own direct responsibilities and liabilities under data protection legislation and regulation. Data protection legislation and regulation places obligations on you as a data controller where we act as a data processor to undertake the processing of personal data on your behalf. We therefore confirm that we will at all times take appropriate measures to comply with relevant requirements when processing data on your behalf. In particular we confirm that we have adequate security measures in place and that we will comply with any obligations equivalent to those placed on you as a data controller.
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The Data Protection Lead for Simply Accounting is Jacob Fletcher. In agreeing these terms of business, you: (a) Authorise us to process personal data relating to you, your business and ancillary matters as may be the case; (b) Confirm that you have made, or will make, any necessary notification to the Information Commissioner as required by the General Data Protection Regulation and such legislation as enacts same in the UK. (c) Confirm that you comply, and will continue to comply, with the data protection principles of the General Data Protection Regulation and such legislation as enacts same in the UK. We will use your personal data to keep you updated about the service we are providing.
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5. The Proceeds of Crime Act 2002 and Money Laundering Regulations
In common with all accountancy and legal practices the firm is required by the Proceeds of Crime Act 2002 and the Money Laundering Regulations 2017 and 2019 to: Simply Accounting – TERMS OF BUSINESS. Part 2/3 of the Terms of Engagement (a) maintain identification procedures for clients; (b) maintain records of identification evidence and the work undertaken for the client; and (c) report, in accordance with the relevant legislation and regulations. If you are involved in a business or sector that requires you to be supervised by an appropriate supervisory authority to follow anti-money laundering regulations, you should inform us. This includes if you accept or make a high value cash payments of €10,000 or more (or equivalent in any currency) in exchange for goods, are a financial or credit agency, are an estate / letting agent, an art market participant or cryptoasset business. We have a duty under s.330 of the Proceeds of Crime Act 2002 to report to the National Crime Agency (NCA) if we know, or have reasonable cause to suspect, that another person is involved in money laundering. Failure on our part to make a report where we have knowledge or reasonable grounds for suspicion would constitute a criminal offence. The offence of money laundering is defined by s.340(11) of the Proceeds of Crime Act and includes concealing, converting, using or possessing the benefits of any activity that constitutes a criminal offence in the UK. It also includes involvement in any arrangement that facilitates the acquisition, retention, use or control of such a benefit. We are obliged by law to report instances of money laundering to NCA without your knowledge or consent. In consequence, neither the firm’s principals nor staff may enter into any correspondence or discussions with you regarding such matters. We are not required to undertake work for the sole purpose of identifying suspicions of money laundering. We shall fulfil our obligations under the Proceeds of Crime Act 2002 in accordance with the guidance published by the Consultative Committee of Accountancy Bodies.
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6. Client Monies
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’ Money Policy of the AAT. In order to avoid an excessive amount of administration, interest will only be paid to you where the amount of interest that would be earned on the balances held on your behalf in any calendar year exceeds £50. Any such interest would be calculated using the prevailing rate applied by HSBC Bank Plc for small deposits subject to the minimum period of notice for withdrawals. Subject to any tax legislation, interest will be paid gross. If the total sum of money held on your behalf exceeds £10,000 for a period of more than 30 days, or such sum is likely to be held for morethan 30 days, then the money will be placed in an interestbearing designated client bank account. All interest earned on such money will be paid to you. Subject to any tax legislation, interest will be paid gross.
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7. Fees
Our fees are based upon: (a) The seniority and experience of the people involved with the work; (b) The time taken by each level of staff; (c) The risk and responsibilities which the work entails; (d) The priority and importance of the work to you the client; and (e) Any expenses incurred. Work carried out by us at your request which is outside that outlined in the accompanying engagement letter and service schedule(s) will involve additional fees. The charge rates used in calculating our fees will vary periodically and are normally revised annually. Because they are based on specific costs which are incurred locally, increases are not directly linked to the prevailing rate of general price inflation. Our fees will be billed at appropriate intervals. Our terms relating to payment of amounts invoiced are strictly 30 days. Interest may be charged on all overdue debts (see Payment, below). Commissions, fees or other benefits arising from referrals, advice or other transactions may be passed to, or shared with, Simply Accounting by a third party. For instance, we may receive an introductory fee or commission based on the commission received or the fee charged by the third party and of which it will advise you directly. By signing this letter of engagement, you agree to Simply Accounting retaining all such commissions, fees or other benefits received unless alternative arrangements are agreed in writing.
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8. Payments and VAT
(a) Direct Debits: Where our fees are likely to exceed £3,000 per annum we may require you to make monthly payments on account by direct debit or standing order. At the outset of our relationship we will estimate the annual cost of doing the work and suggest a figure for a monthly standing order. (b) Bank Transfer: Payments made by bank transfer will be paid into our Starling account. Name: Jacob Fletcher, Account Number: 28602695, Sort Code: 23-01-20.
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9. Payment Arrangements
Payment is due within 30 days of the date of our bill; failing which interest may be charged on all overdue debts at the rate of 1% per month on the balance outstanding. In the unlikely event of any request for payment not being met, we reserve the right to cease acting.
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10. Monies to be Spent on Your Behalf (Disbursements)
We may have to pay out money on your behalf (a disbursement). We will normally require cleared funds before we pay out a disbursement on your behalf. We will let you know the amount and the date by which we need the cleared funds. In order for funds to clear, we must receive any cheques payable to us in respect of those disbursements at least seven days before the monies are to be paid out. Alternatively, for small amounts, we will pay these amounts on your behalf and include them in an invoice.
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11. Limitation of Liability
You agree with us the extent to which it is reasonable for us to bear liability in connection with any engagement carried out by us, as follows: Limit of Liability: Our liability for all and any damages or losses (including interest and costs) (“the Total Damages”) suffered or incurred by you, arising from or in connection with any such engagement shall be the limit set out in Part 1 of our Terms of Engagement (the “Limit”). Applicability of the Limit: the Limit will apply to the full extent that the law allows, notwithstanding any express or implied term or condition of these terms of engagement, any collateral agreement or warranty or any representation. Proportionality: The Limit shall be reduced in like proportion to the Total Damages, taking into account any contributory negligence of the client and any other party found liable to contribute, pursuant to the Civil Liability (Contribution) Act 1978. Claims against Members and Employees: You agree not to bring any personal claim in respect of loss or damage suffered by you out of or in connection with our services (including but not limited to delay or non-performance) against any of our members or employees. For the purposes of this clause, members and employees shall mean directors members and employees of Simply Accounting. This restriction will not limit or exclude the liability of Simply Accounting for the acts or omissions of any member, director or employee. It is agreed that any member, director or employee will have the right to enforce this clause pursuant to the Contracts (Rights of Third Parties) Act 1999. Right of Recovery: We have an interest in the indemnification of our employees; accordingly, if you should fail to indemnify them in accordance with the sentence above, we may do so and recover from you. Supply of Information or Failure to Act: To the fullest extent permitted by law, we will not be, and you will not hold us, responsible for any losses, penalties, surcharges, interest or additional tax liabilities where you or others, intentionally or unintentionally, supply incorrect, incomplete or misrepresented information, or fail to supply any appropriate information or where you fail to act on our advice or respond promptly to communications from us, HM Revenue & Customs or other authorities.
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12. What We Will Not Do
Unless we are specifically requested to do so we will not: - (a) Give undertakings on your behalf; (b) Keep third parties advised of any developments; (c) Instruct outside third party agents such as solicitors and/or counsel, or other professionals. If we are requested to do any of the above then we reserve the right to revise any fee estimate.
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13. Retention of Records
During the course of our work we will collect information from you and others acting on your behalf and will return any original documents to you following the completion of the assignment. Other than for documents which we consider to be of continuing importance (for instance, where there is a trust or a record of a significant financial transaction), if you cease to be a client we intend to destroy correspondence and other papers which we store either when they are more than seven years old or permitted to do so by HM Revenue & Customs if that period is longer. We apply the same destruction policy to both paper and electronic data records, which may include scans of correspondence and other documentation related to the work we do for our clients.
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14. Email, Electronic Communication and Third Party Software
We cannot accept responsibility for any errors or problems that may arise through the use of internet, e-mail communication or third-party software, including but not limited to cloud accounting software. If you do not agree to accept the risk of using e-mail/messaging, you should notify us in writing that e-mail/messaging is not an acceptable means of communication. All risks connected with sending commercially sensitive information or using third party software relating to your business are borne by you. It is the responsibility of the recipient to carry out a virus
and malware check on any attachments or downloads received.
15. Applicable Law
This engagement letter is governed by, and construed in accordance with, English Law. The Courts of England will have exclusive jurisdiction in relation to any claim, dispute or difference concerning this engagement letter and any matter arising from it. 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 inappropriate forum, or to claim that those courts do not have jurisdiction. The services currently being agreed reflect our understanding of the law as it now stands. We take extensive steps to ensure that we keep abreast of changes in legislation affecting our clients and to bring these to their attention. However, especially where the extent and timing of the implementation of changes is uncertain or changes are implemented at short notice, we cannot guarantee to do so in good time in relation to the affairs of any particular client. Attention is therefore drawn to the sections of this schedule and Parts 1 and 3 to the effect that: The services and terms set out in our letter of engagement and terms of business will remain in force until updated by us. The client is responsible for compliance with all relevant laws and regulations, including changes thereto. You should make arrangements to keep informed of such matters.
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16. Rights of Third Parties
A person who is not party to this agreement shall have no right under the Contracts (Rights of Third Parties) Act 1999 to enforce any term of this agreement. This clause does not affect any right or remedy of any person that exists or is available otherwise than pursuant to that Act. Any report will be made solely to its addressee/s, as a body, in accordance with the terms of our engagement and any appropriate legislation. Our work will be undertaken so that we might state to the addressee/s those matters we are required to state in our report and for no other purpose. In those circumstances, to the fullest extent permitted by law, we will not accept or assume responsibility to anyone other than the addressee/s as a body and where applicable the entity being reported on, for our work, for our report or for any opinions we form. If any other parties wish to rely on our work, they should approach us to agree expressly the scope and nature of the work we may do for their purposes.
17. Termination/Disengagement You may terminate your instructions with us in writing at any time. Upon our ceasing to act, we will bill you for all disbursements and work under-taken to that point and may issue you with a disengagement letter which will set out the terms of disengagement and will follow best practice as recommended by the AAT. We will provide appropriate information to any successor firm in a commonly used machine readable electronic format.
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18. Distance Selling Under the Consumer
Contracts (Information, Cancellation and Additional Charges) 2013, for some non-business instructions, you may have the right to withdraw, without charge, within 14 working days of the date on which you asked us to act for you, unless you have been made aware of these regulations but have instructed us to proceed. Alternatively, where we have started work, you may withdraw without charge, within 7 working days of the date of your receiving these terms or before the work is completed, whichever is the sooner. Your consent to our proceeding is given by returning a signed copy of the terms of engagement letter. If you do not want us to proceed, please give notice by telephone, email or letter to the person named in our terms of business as being responsible for your work. You will then be liable for our fees and disbursements up to the point at which we are able to cease work, including any disengagement or cessation costs. The Regulations also require us to inform you that if the work involved is likely to take more than 30 days. Mortgages, Insurance Mediation and Regulation We are not authorised by the Financial Conduct Authority (FCA).
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19. 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. We will investigate any potential for a conflict of interest. We may decline to act if a conflict arises or may potentially arise. If a conflict of interest should arise, either between two or more of our clients, or in the provision of multiple services to a single client, we will take such steps as are necessary to deal with the conflict.
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20. Using our Registered Office service
Where you use our office address as your registered office, you give us the right to open mail on your behalf to filter out marketing and un-solicited material. We will then forward to you all substantive correspondence at no charge. Should you wish to receive all mail sent to us as your registered office address please let us know. We forward all mail and charge a fee to cover administration and postage.
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21. Help us to give the right service
If at any time you would like to discuss with us how our service could be improved, please talk to the person dealing with your work.
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22. Continuity of practice
AAT requires all licence holders to have continuity of practice cover in place to ensure their practice can continue in the event of any short-term illness, long term absence or cessation of the firm. It is in the public interest that AAT ensures licence holders have continuity of practice cover to ensure services are uninterrupted to protect the interests of clients at all times. The professional nominee appointed is PSM Reid Masters t/a Tolvern, Tre-Ru House, The Leats, Truro, Cornwall, TR1 3AG.
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23. What you can do if dissatisfied
We always strive to provide a high-quality service. If, however, you have any concerns about our work, please raise them initially with the person who is actually looking after you. They will look into any concern or complaint carefully and promptly and they will do everything reasonable to address your concerns.
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24. Entire Agreement of the Terms of Engagement
Together with the engagement letter, these terms of business record the entire understanding and Terms of Engagement between us and will remain a conclusive record of same until replaced by updated written terms or additional service(s) agreed to by us. No additional services can be implied by the client or any third party, neither shall a duty of care nor a duty to advise extend beyond the scope of the agreed Terms of Engagement referred to above. Important: If we do not receive a countersigned engagement letter from you your continued instructions shall be proof of your agreement to the Terms of Engagement which shall then be reckoned to have commenced on the earlier of the date of the engagement letter.