Terms & Conditions

We wish we lived in a world where everything could be done on a handshake, but our legal advisers tell us that in today’s world we must have some written terms and conditions, so here they are:-

Our standard terms of business apply to all clients for all our services, unless mutually varied within our letter of engagement.  Our terms of business are occasionally updated to reflect recent changes in law or practice and the latest version is published on our website.

We have a professional responsibility to maintain the reputation and integrity of our profession and our practice and reserve the right to stop acting on any clients’ behalf immediately, should we feel that such integrity and reputation may be compromised by acting on your behalf.

A person who is not party to this agreement shall have no right under the Contracts (Rights of Third Parties) Act 1999 to enforce any term of this agreement.  This clause does not affect any right or remedy of any person, which exists or is available otherwise than pursuant to that Act.  Any services or advice provided to a client is for the sole use of that client only, and no liability or responsibility is accepted by us to any third party who may be affected by such advice or services. Until our appointment formalities have been completed, including the client providing us with satisfactory evidence of their identity and address, and until we have formally written to the client accepting our appointment, we accept no liability or responsibility to that potential client.

The following terms of business apply to all engagements accepted by S. Kainth & Co Limited T/a S. Kainth & Co (“S. Kainth & Co.” thereafter).  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 The Chartered Institute of Taxation 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

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 Services Authority, as we are not.

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.  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.

4.2      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.

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 preparation of your financial statements, financial information and tax return.  You should retain them for 6 years from the 31 January 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.

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 or 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 or the company or 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.

8.0 – Data Protection Act 1998

8.1    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 / your business / company / partnership / its officers and employees.  We confirm when processing data on your behalf we will comply with the relevant provisions of the Data Protection Act 1998.

8.2     The processing of personal payroll data where the firm is acting as a data processor places additional requirements on the firm in connection with the Data Protection Act 1998.  Sections 11 and 12 of the Data Protection Act 1998 place express obligations on you as a data controller where we as a data processor undertake the processing of personal data on your behalf.  We therefore confirm that we will at all times comply with the requirements of the Data Protection Act 1998 when processing data on your behalf.

9.0 – Proceeds of Crime Act 2002 and Money Laundering Regulations 2007

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 2007 to:

  • have identification procedures for all new 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 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 Sanjev Kainth, Principal partner.

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.  Our fees will be billed quarterly, together with outlays and our invoices will be due for payment when issued.

13.2    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.

13.3    We normally ask clients to pay their fee on a monthly standing order.  These standing orders will be applied to fees for work performed under our engagement letter for the current and ensuing years.

13.4    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 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.

15.0 – Limitation of liability

15.1      We have discussed with you the extent of our liability to you in respect of the professional services described within this Engagement Letter (the professional services).  Having considered both your circumstances and our own, we have reached a mutual agreement that £ (value as agreed) represents a fair maximum limit to our liability.

In reaching this agreement it is also agreed that:

  • In the event of any claim arising in respect of the professional services, you have agreed that the £ (value agreed) represents the maximum total liability to you in respect of the firm, its principals and staff.  This maximum total liability includes any claims in respect of breaches of contract, tort or otherwise in respect of the professional services and shall also include interest; Any claim must be made within four years of date of work completed.
  • We acknowledge that the limit in respect of our total aggregate liability will not apply to any acts, omissions or representations that are in any way criminal, dishonest or fraudulent on the part of the firm, its principals or employees; and
  • 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 employees on a personal basis.

16.0 – Electronic communication

16.1     Internet communications are capable of data corruption and therefore we do not accept any responsibility for changes and corruptions made to such communications after their despatch. It may therefore be inappropriate to rely on advice contained in an email without obtaining written confirmation of it. We do not accept responsibility for any errors or problems that may arise through the use of internet communication and all risks connected with sending commercially sensitive information relating to the scheme are borne by you. If you do not agree to accept this risk, you should notify us in writing that email is not an acceptable means of communication.

16.2      Although we take steps to prevent viruses affecting emails and attachments sent by us it is your responsibility as the recipient to carry out a virus check on any attachments received.

17.0 – Completeness of Information

17.1     We will provide our professional services outlined in the specific engagement letter with reasonable care and skill. However, we will not be responsible for any losses, penalties, surcharges, interest or additional tax or other liabilities arising from the supply by you or others of incorrect or incomplete information, or your or others’ failure to supply any appropriate information or your failure to act on our advice or to respond promptly to communications from us or the tax or other authorities.

18.0 – Use of Subcontractors

18.1      The use of subcontractors by accountants is widespread in the profession and can provide important benefits. For example, subcontracting provides access to a flexible additional time resource particularly when we are faced with time or cost constraints or when a particular, specialist service or knowledge is required.

18.2        You agree that in appropriate circumstances, we may subcontract part of the work we are to undertake for you and for such work to be carried out either at our premises or at the premises of the subcontractor.

18.3            When subcontracting work, we will only do so if we are satisfied that the subcontractor is competent and reliable. Notwithstanding any such subcontracting arrangement, we remain responsible for the terms we agree with you and for the quality of work supplied to you and, in addition, we will:

  • only subcontract work to those subcontractors who have the necessary expertise to carry it out;
  • ensure that when subcontractors are employed by us they undertake to comply with the terms and conditions of our contract with you;
  • ensure that any subcontractor working on an assignment is properly advised as to the proprietary nature of any intellectual property rights;
  • ensure that procedures and policies are in place to protect client confidentiality and that such procedures are observed by any subcontractors carrying out any part of the assignment with you;
  • ensure that the subcontractor complies fully with all relevant aspects of the Money Laundering Regulations and our internal procedures relating to these, including establishing/maintaining awareness of the provisions of the Regulations and the operation of relevant aspects of our internal procedures;
  • maintain responsibility for the custody and safekeeping of your books and records whether at our premises or at the premises of a subcontractor.

19.0 – Work to be undertaken

19.1     Each category of work to be undertaken is described in separate schedules. This engagement letter should be read in conjunction with such schedules

20.0 – The provision of services regulations 2009

20.1        Our professional indemnity insurer is Aviva Insurance Limited, of Pitheavlis, Perth, Scotland, PH2 ONH. 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 brought in any court in the United States or Canada.