Terms of business

The following terms of business apply to all engagements accepted by Addison & Co (Teesdale) Ltd. All work is carried out under these terms except where changes are expressly agreed in writing.

1. Applicable law

1. Our engagement letter, the schedules of services and our standard terms and conditions of business are governed by and should be construed in accordance with, English law. Each party agrees that the courts will have exclusive jurisdiction in relation to any claim, dispute or difference concerning this engagement letter and any matter arising from it on any basis. 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. We will not accept responsibility if you act on advice previously given by us without first confirming with us that the advice is still valid in light of any change in the law or in your circumstances. We will accept no liability for losses arising from changes in the law, or the interpretation thereof, that occur after the date on which the advice is given.

2. Client identification

1. 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. If we are not able to obtain satisfactory evidence of your identity, we will not be able to proceed with the engagement.

3. Clients’ money

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 ICAEW’s Clients’ Money Regulations.
2. We will promptly return monies held on your behalf as soon as there is no longer any reason to retain those funds. Where you have instructed HMRC to make tax or VAT refunds to us you are deemed to authorise us to deduct our fees before refunding he balance to you. If any funds remain in our client account that are unclaimed, and the client to which they relate has remained untraced for five years, or we as a firm cease to practise, we may pay those monies to a registered charity.

4. Commissions or other benefits

1. In some circumstances we may receive commissions or other benefits for introductions to other professionals or in respect of transactions which we arrange for you.
2. If this happens, we will notify you in writing of the amount and terms of payment and receipt of any such commissions or benefits. The fees you would otherwise pay will not be reduced by the amount of the commissions or benefits. You agree that we can retain the commission or other benefits without being liable to account to you for any such amounts.

5. Confidentiality

1. Unless we are authorised by you to disclose information on your behalf, we confirm that if you give us confidential information we will, at all times during and after this engagement, keep it confidential, except as required by law or as provided for in regulatory, ethical or other professional pronouncements applicable to us or our engagement.
2. This applies in addition to our obligations on data protection in section [7]

6. Conflicts of interest

1. 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, unless we are unable to do so because of our confidentiality obligations. We have safeguards that can be implemented to protect the interests of different clients if a conflict arises. If conflicts are identified which cannot be managed in a way that protects your interests, we regret that we will be unable to provide further services.
2. During and after our engagement, you agree that we reserve the right to act for other clients whose interests are or may compete with, or be adverse to, yours subject, of course, to our obligations of confidentiality and the safeguards set out in the paragraph on confidentiality above.

7. Data protection

1. The Data Protection Act 2018 and the General Data Protection Regulation set out a number of requirements in relation to the processing of personal data.
2. We take your privacy and the privacy of the information we process very seriously. We will only use your personal information and the personal information you give us access to under this contract to administer your affairs and to provide the services you have requested from us.
3. You can access our privacy notice on our website www.addisonandco.co.uk which sets out our approach to handling your information.

8. Electronic and other communication

1. Unless you instruct us otherwise, we may, if appropriate, communicate with you and with third parties by email or other electronic means. The recipient is responsible for virus checking emails and any attachments.
2. 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 in emails or by electronic storage devices. Nevertheless, electronic communication is not totally secure and we cannot be held responsible for damage or loss caused by viruses or for communications which 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 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 when electronic submission is mandatory.
3. Any communication by us with you sent through the postal system is deemed to arrive at your postal address two working days after the day the document was sent.

9. Fees and payment terms

1. Unless otherwise agreed, our fees will be computed on the basis of the time spent on your affairs by the directors and staff and on the level of skill and responsibility involved.
2. If we provide you with an estimate of our fees for any specific work, then the estimate will not be contractually binding unless we explicitly state that that will be the case.
3. Fees will be billed at appropriate intervals during the course of the year and will be due for payment within 14 days of issue.
4. 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 you have. You will remain liable for our fees regardless of whether all or part are liable to be paid by your insurers.
5. It is our normal practice to issue ‘Requests for Payment’ when dealing with continuous or recurring work. The payment terms for ‘Requests for Payment’ are the same as for invoiced fees. A VAT invoice will be issued to you upon receipt of your payment.

10. Lien

1. Insofar as we are permitted to so by law or by 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.

11. Complaints

1. We aim to provide a fully satisfactory service, but if you have any difficulties which cannot be satisfactorily resolved by the member of staff you normally deal with please contact a Director. We undertake to look into any complaints promptly and to do what we can to resolve the position. If you are still not satisfied you may of course take up the matter with the Institute of Chartered Accountants in England and Wales, whose address will be provided on request.

12. Professional indemnity insurance

1. In accordance with the Institute of Chartered Accountants in England and Wales requirements, we hold professional indemnity insurance. Details about the insurer and level of coverage will be provided on request.