2. Written instructions will normally be required before the Practice will act for the Client but, at the Practice's discretion, it may act on verbal instructions, which will be confirmed in writing. Authority to act on behalf of the Client may be terminated through written notice by either party to the other at any time, without penalty and without prejudice to the completion of work already initiated on the Client's behalf.
3. The Practice will, pursuant to the Client's instructions:
a) Prepare and submit to the Client annual and other intermediate accounts for their consideration and approval.
b) Review the Client's financial affairs and report thereon.
c) Prepare and submit to the relevant authorities statutory Annual or periodic Returns and Accounts, correspond, deal and liaise with said authorities concerning same as necessary.
d) Act on the Client's behalf in the preparation of Taxation Schedules, Returns and Forms for submission to H.M. Revenue and Customs, prepare and submit supporting accounts, correspond and liaise with and make representation and appeals to HMRC on any of the Client's corporate or personal taxation matters.
e) Advise the Client on tax mitigation and tax/estate planning matters.
f) Procure or provide ancillary legal, financial, management consultancy, company secretarial, IT and administrative services.
g) Procure the Appointment and the Services of a suitable Registered Auditor as the Client's Auditor under the Companies Acts and other relevant legislation which Terms and Conditions and the regulations of the appropriate Accountancy Bodies shall govern the conduct of any Audit.
4. The Client will maintain adequate and accurate financial and other relevant records and give the Practice and/or the Auditor appointed under 3(g) above full access to such records and provide written answers to any queries arising from the contents of or omissions in such records at the Practice's or Auditor's request so as to enable the services outlined in 3 above to be efficiently provided.
5. The Practice, in common with all accountancy and legal practices, is required by Proceeds of Crime Act 2002 and the Money Laundering Regulations 2003 to:- 'Maintain identification procedures for all clients; maintain records of identification evidence; report, in accordance with the relevant legislation and regulations, to the Serious Organised Crime Agency (SOCA) - previously NCIS.'
6. The Client's Auditor, where appropriate, has a professional and statutory responsibility to report to the Client whether in his opinion the financial statements prepared give a true and fair view of the state of the Client's affairs and whether they comply with the Companies Acts or other relevant legislation and to point out any anomalies, omissions, inconsistencies or other matters which, in his opinion do not give such a view and constitute or may constitute non-compliance.
7. Unless governed by a fixed fee, the Practice's fees are charged on an hourly basis and are based upon degree of skill and responsibility involved and the time necessarily occupied on the particular work undertaken. Regular invoices will be forwarded to the Client for settlement within 30 days following the date of the invoice and in consideration of the Practice continuing to provide the services requested by the Client, the signatory(ies) hereof, hereby (jointly and severally) personally guarantee to pay the Practice, in the event of the Clients default, the full amount shown in any outstanding invoice forwarded by the Practice to the Client for work done or services rendered. The Practice also reserves the right in the event of non-payment within the period specified, to suspend continuance of any work at hand and charge interest on the amount invoiced at the rate of 5% above the then NatWest Bank Rate.
8. The Practice, may at its discretion, charge for costs involved in transferring information and records to another appointed agent.
9. The Practice agrees to act on behalf of the client on the provision that the client accepts and takes out Fee Protection Insurance cover provided through the Company's (Practice) insurers, the current annual charge to be paid on initial instruction, together with signing this Terms of Business. Thereafter charged annually on 1 June.
The Practice, being obliged to hold Professional Liability Insurance, hereby undertakes to supply the Client on request, contact details of the relevant Insurer and the territorial coverage of the relevant Insurance.