Premier UK Business LLP
STANDARD TERMS AND CONDITIONS OF BUSINESS (14th May 2018)
These terms and conditions should be read alongside your engagement letter and the privacy policy.
Contents
1. Applicable Law
2. Client identification and verification
3. Client money
4. Complaints
5. Confidentiality
6. Conflicts of interest
7. Data protection
8. Disengagement
9. Electronic and other communication
10. Fees and payment terms
11. Intellectual property rights
12. Interpretation
13. Internal disputes within a client
14. Investment advice (including insurance mediation services)
15. Lien
16. Limitation of liability
17. Limitation of third-party rights
18. Period of engagement and termination
19. Professional body rules
20. Reliance on advice
21. Retention of papers
22. The Provision of Services Regulations 2009 (‘Services Directive’)
1. Applicable law
Our engagement letter, the schedule of services and our standard terms and conditions of business are
governed by, and should be construed in accordance with the law and practice of the Institute of
Chartered Accountants in England and Wales (ICAEW) and the General Data Protection Regulations
(GDPR). Each party agrees that the courts of England and Wales 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 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 and verification
As with other professional services firms, we are required to identify and verify our clients for the
purposes of the UK anti-money laundering legislation. Save in exceptional circumstances we cannot start
work until this requirement has been met. We may request from you, and retain, such information and
documentation as we require for these purposes and/or make searches of appropriate databases
including ID verification software.
3. Client money
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 the amount earned on the balances held on your behalf in any calendar
year exceeds £25.00. 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.
We will return monies held on your behalf promptly as soon as there is no longer any reason to retain
those funds. 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 practice then we may pay those
monies to a registered charity.
4. 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 email
details to clientsupport@premierukbusiness.com, where the complaint will be distributed to the correct
management team. We agree to look into any complaint carefully and promptly and do everything
reasonable to try and resolve it. If you are still not satisfied you can refer your complaint to our
professional body, ICAEW.
In event of any complaint to the ICAEW you will need to refer your complaint in the name of Mr Hammad
Farooqi and provide the email address of clientsupport@premierukbusiness.com.
5. Confidentiality
Communication between us is confidential. We shall take all reasonable steps not to disclose your
information except where we are required to and as set out in our privacy notice. Unless we are
authorised by you to disclose information on your behalf, this undertaking will apply during and after this
engagement.
We may, on occasions, subcontract work on your affairs to other tax or accounting professionals who
may be based outside the EU. The subcontractors will be bound by our client confidentiality and security
terms and will process any personal information in accordance with applicable UK legislation.
6. Conflicts of interest
If there is a conflict of interest in our relationship with you or in our relationship with you and another
client that is capable of being addressed successfully by the adoption of suitable safeguards to protect
your interests, then we will adopt those safeguards.
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.
7. Data protection
You acknowledge that we will act in accordance with the privacy policy we have supplied to you.
8. 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 6 months or more, we may issue a disengagement
letter to your last known postal and email address and thereafter cease to act.
We reserve the right, following termination for any reason, to destroy any of your documents that we
have not been able to return to you after a period of six months unless other laws or regulations require
otherwise.
9. Electronic and other communication
As instructed, we will communicate with you and with any third parties you instruct us to as set out in
our covering letter and privacy notice via email 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 accept 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 hard
copy, other than where electronic submission is mandatory.
When accessing information held electronically by HMRC, we may have access to more information than
we need and will only access records reasonably required to carry out the contract.
You are required to keep us up to date with accurate contact details at all times. This is important to
ensure that communications and papers are not sent to the incorrect address.
10. Fees and payment terms
Our fees may depend not only upon the time spent on your affairs but also on the level of skill and
responsibility, and the importance and value of the advice that we provide, as well as the level of risk.
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 and to seek your
agreement thereto.
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.
Our fees are exclusive of VAT, which will be added where it is chargeable. Any disbursements we incur
on your behalf and expenses incurred during carrying out our work for you will be added to our invoices
where appropriate.
Unless otherwise agreed to the contrary, our fees do not include the costs of any third party, counsel or
other professional fees.
We will quote you job fees prior to commencing work, if you do not accept our quoted fees you must
notify us prior to us commencing work, failing to do so you will be deemed to have accepted that payment
is due as per our invoice. We reserve the right to quote overtime fees for jobs whereby information/
documentation has been handed over at what we deem as ‘late’ to meet the legal filing deadlines. If we
do not quote you prior to commencing work, fees will remain as per the last agreed fee for the job in
question for periods passed.
Upon termination of engagement you may appoint a new adviser. Where a new adviser requests
professional clearance and handover information we reserve the right to charge you a reasonable fee for
the provision of handover information.
11. 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.
12. Interpretation
If any provision of this engagement letter, schedules of services or standard terms and conditions is held
to be void, then that provision will be deemed not to form part of this contract and the remainder of this
agreement shall be interpreted as if such provision had never been inserted.
13. 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 a business client, it should be noted that where our client is the business,
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 registered office/normal place of business for the attention of the directors/proprietors. If conflicting
advice, information or instructions are received from different directors/principals in the business, we
will refer the matter back to the board of directors/the partnership/the LLP and take no further action
until the board/partnership/LLP has agreed the action to be taken.
14. Investment advice (including insurance mediation services)
Investment business is regulated under the Financial Services and Markets Act 2000 and the Financial
Services Act 2012.
Should you require advice on investment business which we are unable to give as we are not authorised
by the Financial Conduct Authority or the Prudential Regulation Authority we can introduce you to Saul
Jackson at Throgmorton Private Capital, who are a permitted third party authorised by the Financial
Conduct Authority.
The permitted third party will issue you with their own terms and conditions letter, they will be
remunerated separately for their services and will take full responsibility for compliance with the
requirements of the Financial Services and Markets Act 2000 and the Financial Services Act 2012. We will
act as introducers but would be pleased to comment on, or explain any advice received and, if required,
attend any meetings with you.
15. 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.
16. 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, fraud or wilful default and in any case
will not exceed 5 times the fee charged for the assignment or £25,000 whichever is higher.
a. Exclusion of liability for loss caused by others We will not be liable if such losses, penalties, 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.
In particular, where we refer you to another firm whom you engage with directly, we accept no
responsibility in relation to their work and will not be liable for any loss caused by them.
b. 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 under this
engagement letter if the delay or failure is caused by circumstances outside our reasonable
control.
c. Exclusion of liability relating to non-disclosure or misrepresentation
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 exclusion shall not apply where such misrepresentation, withholding or concealment is or
should (in carrying out the procedures that 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.
d. 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.
You have agreed that you will not bring any claim of a kind that is included within the subject of the limit
against any of our partners, directors, members or employees on a personal basis.
17. 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 in the engagement letter
that a specified third party may rely on our work. We accept no responsibility to third parties, including
any group company to whom the engagement letter is not addressed, for any advice, information or
material produced as part of our work for you that you make available to them. A party to this agreement
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.
18. Period of engagement and termination
Unless otherwise agreed in the engagement letter our work will begin when we receive your implicit or
explicit acceptance of that letter, except as stated in that letter we will not be responsible for periods
before that date.
You may terminate your agreement with us by giving no less than 3 months/ 90 days written notice. You
are required to pay any outstanding invoices and agreed monthly accountancy fee for the 3 months’
notice period. Should you wish to terminate services immediately, the 3 months fees will be invoiced in
full, upon receiving payment immediate clearance will be handed over. Should you wish to serve notice
we will complete any jobs that fall within the notice period, invoice as usual and handover clearance after
the 3 months notice is served.
Should you fail to cooperate with us or we have reason to believe that you have provided us or HMRC
with misleading information, we may terminate this agreement immediately. Termination will be without
prejudice to any rights that may have accrued to either of us prior to termination.
In the event of termination of this 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.
If you engage us for a one-off piece of work (for example advice on a one-off transaction or preparation
of a tax return for one year only) the engagement ceases as soon as that work is completed. The date of
completion of the work is taken to be the termination date and we owe you no duties and we will not
undertake further work beyond that date.
Where recurring work is provided (for example ongoing compliance work such as the completion of
annual tax returns) the engagement ceases on the relevant date in relation to the termination as set out
above. Unless immediate termination applies, in practice this means that the relevant termination date
is:
• 3 months/ 90 days after the date of notice of termination; or
• A later agreed date
We owe you no duties beyond the date of termination and will not undertake any further work.
19. Professional body rules
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 (ICAEW) and accept instructions to act for you
on the basis that we will act in accordance with those ethical guidelines.
You are responsible for bringing to our attention any errors, omissions or inaccuracies in your returns
that you become aware of after the returns have been submitted in order that we may assist you to make
a voluntary disclosure.
In particular, you give us the authority to correct errors made by HMRC where we become aware of them.
In addition, we will not undertake tax planning which breaches Professional Conduct in Relation to
Taxation. We will therefore comply with the general anti-abuse rule and the targeted anti-avoidance rule.
We will not be liable for any loss, damage or cost arising from our compliance with statutory or regulatory
obligations.
The implications of professional body membership as it relates to GDPR are set out in the privacy notice,
which should be read alongside these standard terms and conditions of business.
20. Reliance on advice
We will endeavour to record all advice on important matters in writing. Advice given orally is not intended
to be relied upon unless confirmed in writing. Therefore, if we provide oral advice (for example, during
the course of a meeting or a telephone conversation) and you wish to be able to rely on that advice, you
must ask for the advice to be confirmed by us in writing. However, bear in mind that advice is only valid
at the date it is given.
21. 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. We will
return any original documents to you via tracked or recorded delivery post or via courier – please note
you are liable to pay any postal or courier charges in respect of us sending documents back to you.
When we cease to act for you we will seek to agree the position on access to cloud-accounting records
to ensure continuity of service. This may require you to enter direct engagements with the software
providers and pay for that service separately. 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 10 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.
While 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. This includes your
documents if they have not been reclaimed by you within the seven-year period. You must tell us if you
require the return of any specific document or their retention for a longer period.
You should retain documents that are sent to you by us as set out in the privacy notice, which should be
read alongside these terms and conditions.
22. 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 at our offices or by request from us.