The following terms of business apply to all engagements accepted by Glazers Chartered Accountants. All work is carried out under these terms except where changes are expressly agreed in writing.
| 1.0 | Professional rules and practice guidelines |
| 1.1 | We will observe the bye-laws, regulations and the code of ethics of the Institute of Chartered Accountants in England and Wales and accept instructions to provide services to you on the basis that we will act in accordance with them. You can see copies of these requirements in our offices. The requirements are also available on the internet at www.icaew.com/membershandbook. We confirm that we are Registered Auditors eligible to conduct audits under the Companies Act 2006. |
| 2.0 | Investment advice (including insurance mediation services) |
| 2.1 | Investment business is regulated by the Financial Services and Markets Act 2000. If during the provision of professional services to you, you need advice on investments (including insurances), we may have to refer you to someone who is authorised by the Financial Conduct Authority, as we (Glazers Chartered Accountants) are not. However, as we are licensed by the Institute of Chartered Accountants in England and Wales, we may be able to provide certain investment services that are complementary to, or arise out of, the professional services we are providing to you. In the unlikely event that we cannot meet our liabilities to you, you may be able to claim compensation under the Chartered Accountants’ Compensation Scheme in respect of exempt regulated activities undertaken. |
| 3.0 | Commissions or other benefits |
| 3.1 | In some circumstances we (or one of our associates) may receive commissions or other benefits for introductions to other professionals or transactions we (or such associates) arrange for you. You consent to such commission or other benefits being retained by us (or, as the case may be, by our associates) without us (or them) being liable to account to you for any such amounts. |
| 4.0 | Clients’ money regulations |
| 4.1 | 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. |
| 4.2 | Interest earned on client bank account will not be paid to you unless specifically agreed otherwise in advance. |
| 5.0 | Retention of records |
| 5.1 | During 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 work. You should retain them for 7 years following the end of the accounting/tax year. You should retain them for longer if HM Revenue & Customs enquire into your tax return. |
| 5.2 | 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. You have a right to request that documents containing your personal data are destroyed earlier than this. Provided the documents do not need to be kept for legal, regulatory, commercial or other valid reasons, we will destroy them following your request. |
| 6.0 | Conflicts of interest and independence |
| 6.1 | We reserve the right during our engagement with you to deliver services to other clients whose interests might compete with yours, subject to 7 below. We confirm that we will notify you immediately should we become aware of any conflict of interest involving us and affecting you. |
| 7.0 | Confidentiality |
| 7.1 | 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. |
| 8.0 | Proceeds of Crime Act 2002 and Money Laundering Regulations 2007 |
| 8.1 | 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:
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| 9.0 | Data Protection |
| 9.1 | 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 and your employees, if applicable. We confirm when processing data on your behalf that we will comply with the General Data Protection Regulation 2016 and the Privacy and Electronic Communications Regulations 2003. Please click here for our Data Protection Privacy Policy, which explains the use we make of personal data we receive in the course of our work. |
| 9.2 | Data Protection in Respect of Money Laundering Checks |
| Any personal data we receive from you for the purposes of our money laundering checks will be processed only for the purposes of preventing money laundering and terrorist financing, or as otherwise permitted by law or with your express consent. You consent to us retaining such data for longer than the five year statutory period, unless you tell us otherwise. | |
| 9.3 | Data Protection – Your Obligations |
| If you send us personal data about anyone other than yourself you agree that you will ensure you have any appropriate consents and notices in place to enable you to transfer that personal data to us, and so that we may use it for the purposes for which you provide it to us. | |
| 10.0 | Quality control |
| 10.1 | 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 principals and staff. |
| 11.0 | Help us give you the best service |
| 11.1 | We wish to provide a high quality of service at all times. If at any time you would like to discuss with us how we could improve our service, or if you are dissatisfied with the service you are receiving please let us know by contacting any of our partners, details of which are shown on our letterhead. |
| 11.2 | We will look into any complaint carefully and promptly and do all we can to explain the position to you. If we have given you a less than satisfactory service, we undertake to do everything reasonable to put it right. If you are still not satisfied you may of course refer the matter to our Institute. |
| 12.0 | Contracts (Rights of Third Parties) Act 1999 |
| 12.1 | 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. |
| 12.2 | 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. |
| 13.0 | Fees |
| 13.1 | Our fees are calculated on the basis of the time spent on your affairs by the principals and staff and on the levels of skill or responsibility involved. |
| 13.2 | Our fees are payable within 7 days or alternatively by prior standing order arrangement. We reserve the right to charge interest on late payment at the rate of 3% per annum above the Coutts & Co base rate. We also reserve the right to terminate our engagement and cease acting if payment of any fees billed is unduly delayed. |
| 13.3 | A fee will be chargeable, as shown below, in the event that we introduce a member of staff to you, or in the event that a member of our staff joins you, either as an employee or in any other capacity. |
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| 13.4 | If we need to do work outside the responsibilities outlined in our engagement letter, we will advise you in advance. This will involve additional fees. |
| 14.0 | Applicable law |
| 14.1 | 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. |
| The signing of our Letter of Engagement signifies acceptance of these Terms of Business. | |