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Terms and Conditions
The following terms of business apply to all engagements accepted by Hedley Dunk Limited. 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 ethical guidelines of the Institute of Chartered Accountants in England and Wales and accept instructions to act for 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.co.uk/ membershandbook. We confirm that we are Registered Auditors eligible to conduct audits under the Companies Act 2006.
2.0 Investment advice
2.1 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 Conduct Authority (FCA), as we are not. However, as we are licensed by the Institute of Chartered Accountant 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. Such advice may include fee protection insurance and introduction to a permitted third party (PTP) (an independent financial adviser who is authorised and regulated by the FCA). The PTP will issue you with their own terms and conditions letter, will be remunerated separate for their services and will take full responsibility for compliance with the Financial Services and Markets Act 2000. The firm may receive commission from such an introduction, in which case you will be fully informed of the expected size and nature of the commission at the time of the introduction. 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.
2.2 This firm is not authorised by the Financial Conduct Authority. However, we are included on the register maintained by the Financial Conduct Authority so that we can carry on insurance mediation activity, which is broadly the advising on, selling and administration of insurance contracts. This part of our business, including arrangements for complaints or redress if something goes wrong, is regulated by The Institute of Chartered Accountants in England and Wales. The register can be accessed via the Financial Conduct Authority website at www.fca.org.uk/register
3.0 Commissions or other benefits
3.1 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. The fees you would otherwise pay as described below will not be reduced by such amounts. You agree that we can retain the commission or other benefits without 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.
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 assignment undertaken. You should retain them for 6 years from the 31 January following the end of the tax year.
This period can be extended if the H M 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 six years old, except documents we think may be of continuing significance. You must tell us if you wish us to keep any document.
6.0 Conflicts of interest and independence
6.1 We reserve the right to act during our engagement with you for other clients whose interests are or may be adverse to 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/the company/the partnership.
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.
7.2 You agree that we will be complying sufficiently with our duty of confidence if we take steps that we in good faith think fit to keep appropriate information confidential during and after our engagement.
8.0 Data Protection and privacy
8.1 Please refer to our data protection policy for details of your rights and our obligations under these terms of business. A copy of the policy is available on our website, http://www.hedleydunk.co.uk/privacy-policy or by writing to us.
8.2 We may undertake a search with third parties for the purposes of verifying your identity. To do so the third party may check the details you supply against any particulars on any database (public or otherwise) to which they have access. They may also use your details in future to assist other companies for verification purposes. A record of the search will be retained by Hedley Dunk Limited.
9.0 Proceeds of Crime Act 2002 and Money Laundering Regulations 2017
9.1 In common with all accountancy and legal practices the firm is required by the Proceeds of Crime Act 2002 and the Money Laundering Regulations 2017 to:
• have identification procedures for all clients;
• maintain records of identification evidence; and
• report in accordance with the relevant legislation and regulations.
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 controller. Our 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 the Directors.
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.
11.2 In accordance with the disclosure of the Services Regulations 2009, our professional indemnity insurer is disclosed on our website which is Allied World Assurance Company (Europe) Limited c/o MGB Insurance Brokers Limited, 6 Bevis Marks, London EC3A 7BA. 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 bought in any court in the United States of America.
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 shall not create or give rise to any rights for any third party to whom you may communicate it. We 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. Our fees will be billed on completion of the assignment and will be due when issued.
13. Where by arrangement clients pay by monthly standing order in advance the receipts will be offset against the bill rendered, with any balance due as above.
13.3 We have agreed fixed fees with some clients and in these instances the fees are payable by way of monthly standing order over the course of the assignment.
13.4 If we need to do work outside the responsibilities outlined in our original agreement, we will advise you in advance. This will involve additional fees. Accordingly it is in your interest to ensure that your records etc are completed to the agreed stage.
13.5 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.
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 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.
OCTOBER 2019