The following information applies to those who receive services from us or who are seeking todo so (“our Clients”), and tothose who work for our Clients or who are otherwise connected to our Clients’ businessesin any other capacity. These conditions apply in addition to those for the useof our website. Where any conflict arises between the terms of our websitestatement and this statement the terms contained in this statement shallprevail.
The types of personal data collected andprocessed by us will vary depending on the data we are required to process inaccordance with the contracts with our Clients. We may be asked to process both‘personal data’ as definedin Section 3(2) of the Data Protection Act 2018 and or ‘Special Category Personal Data’ as defined in Article 9(1) GDPR.
Personal data we process for our own purposesand/or in accordance with contracts with our Clients may include but may not belimited to third party and prospective clients data, our Client’s staff data, our Client’s contractor data supplier data and dataof children.
Data about these individuals may include butnot be limited to the following categories:
Category
Examples
Demographic
Name, address, date of birth, telephone number, email address, marital status
Financial
Bank details, salary information, tax liabilities, other pay deductions, payments to others
Employment
Employer,job title, employment contact details, employment history
Social
Achievements, social media information, education
Special category
Racial or ethnic origin, political opinions, religious or philosophical beliefs, trade union membership, health data, sexual orientation
Categories of data subjects will, for so far aswe act as a Data Processor, be determined by our Clients and as contemplated byour contracts with them. Normally, we will only require limited aspectsof our Client’s staff datafor our own purposes and will advise our Clients should it become necessary forus to process any other categories of personal data for our own purposes.
Generally, it will be our Client’s responsibility as a Data Controller toensure we are provided with personal data for processing activities for whichthey have identified a legal basis for such processing. We will notaccept responsibility for our Client’s providingus with personal data where they have no legal basis for doing so.
Where we require personal data from our Clientsfor our own purposes we normally do so on the following legal bases as definedunder GDPR:
Where we receive Special Category Personal Dataas a result of our professional engagements with Clients, we process these onthe basis that explicit consent has been given to our Clients to provide suchdata to us, or otherwise in accordance with the other legal bases set outthrough Article 9 GDPR (Section 10 DPA).
Where we process Special Category Personal Datarelating to an individual for our own purposes, we will seek consent to processsuch data or otherwise process the same in accordance with the other legalbases set out through Article 9 GDPR (Section 10 DPA).
We will process personal data for as long as weare required to do so for the purposes of the services we provide to ourClients and to meet our legal, professional and statutory rights and/orobligations, and for our prudent risk management purposes of data retention inaccordance with our Data Retention Policy. At the cessation of ourprocessing activities it is our Client’s choice as to what happens to thepersonal data we have been provided with, however, we will need to retainpersonal data as evidence of the services that we have provided to our Clients. Anypersonal data retained in this way shall be kept confidential and shall bemaintained by us appropriately until it is destroyed in accordance with ourData Retention Policy. We will work with our Clients to carry out theirreasonable instructions.
Personal data we collect for our own purposeswill be managed in accordance with our Data Retention Policy which reflectscurrent legal, professional and regulatory rights and obligations.
As part of our service delivery it may benecessary for us to use sub-processors. Where we engage a sub-processorsto work directly on the services provided to our Clients we will notify ourClients of the same.
We also use a number of ancillary serviceproviders in the delivery of our services to our Clients. Our IT supportis largely provided by parties external to MFT Some solutions we utiliseare cloud based and our need to rely upon those systems varies depending uponthe services we deliver. All ancillary service providers are bound by MFT toprovide at least the same level of protection for personal data as we do.
Most ancillary providers do not engage directlywith an individual’s data and simplyprovide secure storage solutions for the data we process. Unless we haveotherwise expressly agreed conditions with them, sub-processors and ancillaryproviders are prohibited from using an individual’s personal data for their own purposes.
MFT and our group companies and affiliatedcompanies utilise a number of suppliers to provide us with IT and otherassociated services for the delivery of our business and services. Insome cases, the suppliers we use will be granted access to the personal data weare processing in order to provide us with technical assistance. Suchprocessing activities are not directly related to our principal services toClients and are considered ancillary to our own internal activities.
As an International firm, our people need to beable to work from anywhere in the world using our IT services. Personaldata may be stored on MFT encrypted devices and transported with individuals asnecessary for the delivery of our services in accordance with the terms andconditions we have agreed with our Clients. We have put in placeappropriate technical measures to ensure data remain secure irrespective ofwhere our people deliver our services.
We may process personal data through any of ourother Group member firms worldwide. In the event this is necessary we willensure appropriate controls exist and execute EU standard contractual clauseswhere necessary to protect personal data and data subject rights and freedoms.
Where we act as a Data Processor on our Client’s behalf you we are permitted by our Clientsto use EU standard contractual clause agreements with our chosensub-processors. All such agreements will be in our name and individualscovered by this statement may enforce rights against the sub-processor(s)directly through us.
Where we act as a Data Controller for personaldata you may exercise a number of rights.
You may:
We will handle all exercise of your datasubject rights in accordance with the requirements of GDPR and any nationallaws at the time of your request. Requests should be submitted in writingto our Privacy Officer:privacy@myfinanceteam.co.uk
If you are dissatisfied with the way we havehandled your personal data and we are unable to resolve the matter for you, youmay take your complaint to the Information Commissioner’s Office. Furtherdetails can be found via their website at:www.ico.org.ukShould we receive a request from any individualto exercise data subject rights but we are only acting as a Data Processor, wewill forward the request to our Client as Data Controller to process. Unlesswe are explicitly instructed not to we will advise the individual that we havepassed their request to the Data Controller.
MFT has put technological and organisationalcontrols, including policies and procedures, in place to protect personallyidentifiable information from loss, misuse, alteration or unintentionaldestruction. Our personnel who have access to the data have been trained tomaintain the confidentiality of such information. Conditions to protectdata to at least the same standard as we do are cascaded to all ourcontractors, sub processors and suppliers.
We carry out regular monitoring and testing ofour security defences to ensure they continue to be effective against thelatest threats.
Data transferred over the internet by us andthrough our website are protected using encryption technologies to ensure theyremain secure.
Please note that no communications over theinternet can be guaranteed as secure. Whilst we take appropriate steps toprotect personal data we cannot guarantee that it will remain secure intransit. Once data reaches your network it is your responsibility toensure it remains secure.
Some of our marketing emails may contain webbeacons, web bugs, cookies or other similar technologies which enable us tounderstand whether an individual opens, reads, or deletes the message and anyinteraction an individual makes with links contained therein. When anindividual clicks on a link in a marketing email they receive from us we mayalso use cookies to log what pages that individual views, in accordance withour cookies policy.
Targeted emails from us may include additionaldata privacy information as required by applicable privacy laws.
This statement was lastupdated in March 2023. We recommend you check this statement on aregular basis to ensure you remain in agreement with the activities we carryout in respect of processing personal data.
Should we make significant changes to the waywe process personal data, we will draw your attention to the relevant part(s)of this statement through email and or other appropriate communications as partof our business activities.
Any changes to our ‘Website’ privacy statement shall be managed inaccordance with the terms stated thereunder.
FOR ANY ENQUIRIES, PLEASE CONTACT: privacy@myfinanceteam.co.uk
StandardTerms of Business
Allengagements that we accept are subject to the following standard terms ofbusiness unless changes are expressly agreed in writing.
1. Professional obligations
1.1We are a member of the Institute of Chartered Accountants in England and Walesand in our conduct are subject to its Code of Ethics which can be found at www.icaew.com/regulations. We will observe and act in accordancewith the bye-laws and regulations of ICAEW. We accept instructions to act foryou on this basis.
1.2Where we become aware of errors made by HM Revenue & Customs you give usauthority to correct them. We will not be liable for any loss, damage or costarising from our compliance with statutory or regulatory obligations.
1.3As required by the Provision of Services Regulations 2009 (SI 2009/2999) we areregistered with the Institute of Chartered Accountants in England and Wales asChartered Accountants.
1.4For the purposes of this engagement, My Finance Team is a trading name of TAGMy Finance Team Limited a company registered in the UK, at 9 Shottery BrookOffice Park, Timothys Bridge Road, Stratford-upon-Avon, CV37 9NR, undercompany registration number 04227619. Our VAT registration is GB781969861.
1.5TAG My Finance Team Limited is a member of the TAG Accountants Holdings LimitedGroup of Companies ("TAGAHL")
Provisionof probate-type services
1.6We are not licensed or authorised for the reserved legal activity of non-contentiousprobate. Consequently, any work we do for you on closely aligned activities,such as estate administration or inheritance tax advice, will not be covered bythe ICAEW Probate Compensation Scheme, this service will not be covered bylegal personal privilege and you will not have access to the Legal Ombudsman.
Professionalindemnity insurance
1.7Our professional indemnity insurer, contact details and geographical scope ofcover are available on request.
1.8 If for any reason circumstances arise that may result in a claim to ourprofessional indemnity insurers, you give us your permission to notify them.
2 Fees
2.1Our fees may depend not only upon the time spent on your affairs, but also onthe level of skill and responsibility and the importance and value of theadvice we provide, as well as the level of risk.
2.2If we provide you with an estimate of our fees for any specific work, theestimate will not be contractually binding unless we explicitly state that willbe the case. Otherwise, our fees will be calculated on the basis of the hoursworked by each member of staff necessarily engaged on your affairs, multipliedby their charge-out rate per hour, VAT being charged thereon. Charge-out ratesare dynamic and can vary both by team member, and by task. Charge-out rates arealso subject to regular change. Details of the charge-out rates likely to beapplied to this engagement are set out in the engagement letter.
2.3If requested, we may indicate a fixed fee for the provision of specificservices or an indicative range of fees for a particular assignment. You willthen know how much you will pay for services in advance, and will always havethe opportunity to discuss the agreement before we get started on any work. Ifnew work is required outside of the scope of our existing agreement, we willissue a written proposal for you to accept (or discuss) before we commence newservices. It is not our practice to identify fixed fees for more than a yearahead as such fee quotes need to be reviewed in the light of events. If itbecomes apparent to us, due to unforeseen circumstances, that a fee quote isinadequate, we reserve the right to notify you of a revised figure or range andto seek your agreement to the change..
2.4In 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 viamembership of a professional or trade body. Other than where such insurance wasarranged through us, you will need to advise us of any such insurance cover youhave. You will remain liable for our fees regardless of whether all or part areliable to be paid by your insurers.
2.5We will bill in accordance with the fee schedule in this agreement and ourinvoice payment terms will be clearly displayed thereupon. Our fees areexclusive of VAT which will be added where it is chargeable. Any disbursementswe incur on your behalf, and expenses incurred in the course of carrying out ourwork for you, will be added to our invoices where appropriate.
2.6Unless otherwise agreed to the contrary, our fees do not include the costs ofany third party, counsel or other professional fees. If these costs areincurred to fulfil our engagement, such necessary additional charges may bepayable by you.
2.7It is our normal practice to collect payment details from clients as part ofthe engagement process for the automatic settlement of invoices. Thissubstantially reduces the administrative burden on both parties. We partnerwith Practice Ignition Pty Limited to facilitate client payments and youragreement to this engagement includes acceptance of the payment terms andconditions at https://www.ignitionapp.com/terms/client-payments.
2.8Where recurring billing has been implemented through the acceptance of thisagreement, invoicing and the associated payment collections may continue beyondthe end of the contracted period. This is purely to ease the administrativeburden on both parties and to enable payments for, and delivery of, serviceswhich are likely to be continuous in nature to endure without interruption.This will normally be in the interests of both parties. Discussing and agreeinga new engagement with you prior to the expiry of this agreement will always bethe preferred option. Please let us know if these arrangements are notacceptable.
2.9We reserve the right to charge interest on late paid invoices under the LatePayment of Commercial Debts (Interest) Act 1998. We also reserve the right tosuspend our services or to cease to act for you, having given written notice,if payment of any fees is unduly delayed. We intend to exercise these rightsonly if it is fair and reasonable to do so.
2.10If you do not accept that an invoiced fee is fair and reasonable, you mustnotify us within 21 days of receipt, failing which, you will be deemed to haveaccepted that payment is due.
2.11In the event of your defaulting on payments due under this agreement you agreeto pay any costs incurred by us in the process of attempting to collect thebalance of your account, including but not limited to fees paid to a thirdparty debt collection provider and/or reasonable legal fees. In addition to anyother right or remedy provided by law, if you fail to pay invoices when due, wehave the option to treat such failure to pay as a material breach of thiscontract, and may cancel it forthwith, reserving our right for further legalremedy.
2.12As directors you guarantee to pay personally any fees (including disbursements)for services provided to the company that the company is unable to pay. Thisclause shall become effective in the event of a receiver or liquidator beingappointed to the company or the company otherwise being wound-up.
2.13Where our services are in a combined package for a specified period, ourservices our integrated to ensure that services recurring less frequently havethe necessary groundwork completed for them. On this basis should an agreementbe terminated part way through the period, whilst we will not charge for futureperiods we will not refund for past periods because of the integrated nature ofwhat we do. Where significant upfront work has been completed and not fullyrecovered on termination, we reserve the right to collect an additional feeequivalent to reflect the work completed.
3Help us to give you the right service
3.1If at any time you would like to discuss with us how our service to you couldbe improved, or if you are dissatisfied with the service you are receiving,please let us know by contacting Client partner name.
3.2We undertake to look into any complaint carefully and promptly and do all wecan to explain the position to you. If we do not answer your complaint to yoursatisfaction you may of course take up the matter with the Institute ofChartered Accountants in England and Wales.
3.3In order for us to provide you with a high quality service on an ongoing basisit is essential that you provide us with relevant records and information whenrequested, reply to correspondence in a timely manner and otherwise follow theterms of the agreement between us set out in this Standard Terms of Businessand associated Engagement letters. We therefore reserve the right to cancel theengagement between us with immediate effect in the event of:
• yourinsolvency, bankruptcy or other arrangement being reached with creditors;
• failureto pay our fees by the due dates;
• eitherparty being in breach of their obligations where this is not corrected within30 days of being asked to do so.
3.4In the event that this engagement falls within the scope of a consumeragreement should we be unable to resolve your complaint you may also be able torefer your complaint to an alternative dispute resolution (ADR) provider to tryand reach a resolution. We will provide details of an ADR provider if we cannotresolve your complaint using our internal procedures. This is in addition toyour ability to complain to our professional body.
4Commissions or other benefits
4.1In some circumstances, commissions or other benefits may become payable to usor one of our associates in respect of transactions we or such associatesarrange for you.
4.2If this happens, we will notify you in writing within 14 days of the amount andterms of payment and receipt of any such commissions or benefits. The same willapply (if applicable) if the payment is made to, or the transactions arearranged by, one of our associates. The fees you would otherwise pay may bereduced by the amount of the commissions or benefits. You agree that we (or ourassociates, if applicable) can retain the commission or other benefits withoutbeing liable to account to you for any such amounts. If we reduce the fees thatwe would otherwise charge by the amount of commission retained, we will applythe HMRC concession which allows VAT to be calculated on the net fee afterdeduction of the commission. Note that this does not give us permission toretain commission in respect of exempt regulated activities done under any DPBlicence (if applicable).
4.3Information regarding likely commissions that may be received by us (or ourassociates, if applicable) and the likely amounts are available on request.This information will include: provided service; name or type of firm payingcommission; basis of commission; rate of commission; frequency.
4.4If in the future, abnormally large commissions are received which were notenvisaged when this engagement letter was signed, we will obtain specificconsent to the retention of those commissions.
4.5In some circumstances we may receive commissions or other benefits forintroductions to other professionals or in respect of transactions which wearrange for you.
4.6If this happens you agree that we or one of our associates, can retain thecommissions or other benefits without being liable to account to you for anysuch amounts.
4.7The following are examples of likely commissions that may be received and thelikely amounts. These are examples only, and may not cover all receipts infuture.
Provided Service
Name of provider paying commission
Basis of commission
Rate of frequency of commission
Pensions
TAG Financial Planning Limited
% of first year fees
Up to 20% of first year fees
Insurances
Investments
Mortgages and Corporate Finance
TAG Mortgages and Corporate
% of net fees
From 17% to 20% of fees
Property Investments
HJ Collection
% of Invested Value
Up to 4% of investment value – one off (note – these are high risk investments)
EIS / SEIS Investments
Growthdeck
% of Invested Value
Up to 2% of investment
4.8.if in the future, abnormally large commissions (for example more than doublethe largest amount in 4.3 are received which were not envisaged when theengagement letter was signed, we will obtain specific consent to the retentionof those commissions.
5 Client monies
5.1TAG My Finance Team Limited does not have a client account and therefore willnever hold money on your behalf.
5.2 Fees paid by you in advance for professional work to be performed and clearlyidentifiable as such shall not be regarded as clients' monies.
6Retention of and access to records
6.1During the course of our work we will collect information from you and othersacting on your behalf and will return any original documents to you followingthe preparation of your accounts and returns. You have a legal responsibilityto retain these records. The law requires individuals, trustees andpartnerships to keep records in relation to trading or rental income 6 yearsfrom the 31 January following the end of the tax year to which they relate.Other records should be kept for 22 months after the end of the tax year theyrelate to. Companies, Limited Liability Partnerships and other corporateentities are required to keep records for 6 years from the end of theaccounting period.
6.2While certain documents may legally belong to you, unless you tell us not to,we intend to destroy correspondence and other papers that we store which aremore than seven years old, other than documents which we consider to be ofcontinuing significance. If you require retention of any document you mustnotify us of that fact in writing.
7Conflicts of interest and independence
7.1We reserve the right during our engagement with you to deliver services toother clients whose interests might compete with yours or are or may be adverseto yours. We confirm that we will notify you immediately should we become awareof any conflict of interest involving us and affecting you. We have safeguardsthat can be implemented to protect the interests of different clients if aconflict arises. Where conflicts are identified which cannot be managed in away that protects your interests then we regret that we will be unable toprovide further services.
7.2If a conflict of interest should arise, either between two or more of ourclients, or in the provision of multiple services to a single client, we willtake such steps as are necessary to deal with the conflict. In resolving theconflict, we would be guided by the Code of Ethics of the Institute ofChartered Accountants in England and Wales which can be viewed atwww.icaew.com/regulations.
8Confidentiality
8.1Unless we are authorised by you to disclose information on your behalf, weconfirm that if you give us confidential information we will, at all timesduring and after this engagement, keep it confidential, except as required bylaw or as provided for in regulatory, ethical or other professionalpronouncements applicable to us or our engagement.
8.2You agree that, if we act for other clients who are or who become yourcompetitors, to comply with our duty of confidentiality it will be sufficientfor us to take such steps as we think appropriate to preserve theconfidentiality of information given to us by you, both during and after thisengagement. These may include taking the same or similar steps as we take inrespect of the confidentiality of our own information.
8.3In addition, if we act for other clients whose interests are or may be adverseto yours, we will manage the conflict by implementing additional safeguards topreserve confidentiality. Safeguards may include measures such as separateteams, physical separation of teams, and separate arrangements for storage of,and access to, information.
8.4You agree that the effective implementation of such steps or safeguards asdescribed above will provide adequate measures to avoid any real risk ofconfidentiality being impaired.
8.5We may, on occasion, subcontract work on your affairs to other tax oraccounting professionals or to other members of the TAGAHL Group. Thesubcontractors and/or TAGAHL will be bound by our client confidentiality terms.
8.6We will inform you of the proposed use of a subcontractor before they commencework, except where your data will not be transferred out of our systems and thesubcontractor is bound by confidentiality terms equivalent to an employee.
8.7Where we use external or cloud based systems, we will ensure confidentiality ofyour information is maintained.
8.9This clause applies in addition to our obligations on data protection in clause13.
9Quality control
9.1As part of our ongoing commitment to providing a quality service, our files areperiodically subject to an independent regulatory or quality review. Ourreviewers are highly experienced and professional people and are, of course,bound by the same requirements of confidentiality as our principals and staff.
10Applicable law
10.1This engagement letter is governed by, and construed in accordance with,English law. The Courts of England will have exclusive jurisdiction in relationto any claim, dispute or difference concerning this engagement letter and anymatter arising from it. Each party irrevocably waives any right it may have toobject to any action being brought in those courts, to claim that the actionhas been brought in an inappropriate forum, or to claim that those courts donot have jurisdiction.
10.2If any provision in these terms of business or any associated engagementletter, or its application, are found to be invalid, illegal or otherwiseunenforceable in any respect, the validity, legality or enforceability of anyother provisions shall not in any way be affected or impaired.
11Changes in the Law
11.1We will not accept responsibility if you act on advice previously given by uswithout first confirming with us that the advice is still valid in the light ofany change in the law or your circumstances.
11.2We will accept no liability for losses arising from changes in the law or theinterpretation thereof that occur after the date on which the advice is given.
12 Internet communication
12.1Unless you tell us otherwise we will at times use email or other electronicmeans to communicate with you.
12.2Internet communications are capable of data corruption and therefore we do notaccept any responsibility for changes made to such communications after theirdespatch. It may therefore be inappropriate to rely on advice contained in ane-mail without obtaining written confirmation of it. We do not acceptresponsibility for any errors or problems that may arise through the use ofinternet communication and all risks connected with sending commerciallysensitive information relating to your business are borne by you. If you do notagree to accept this risk, you should notify us in writing that e-mail is notan acceptable means of communication.
12.3It is the responsibility of the recipient to carry out a virus check on anyattachments received.
12.4Secure communications and transfer of data. We will communicate or transferdata using the following:
• Post/hard-copydocuments
• Password-protectedemails
• Encryptedemails
• Portals:such as Google Workspace
• Cloud-basedsoftware: Slack
• Emails
• Other
13Data Protection
13.1To enable us to discharge the services agreed in this engagement letter, complywith related legal and regulatory obligations and for other related purposesincluding updating and enhancing client records and analysis for managementpurposes, as a data controller, we may obtain, use, process and disclose personaldata about you and/or your business as described in our privacy notice. Weconfirm when processing data on your behalf that we will comply with theprovisions of all relevant data protection legislation and regulation.
13.2You are also an independent controller responsible for complying with dataprotection legislation and regulation in respect of the personal data youprocess and, accordingly where you disclose personal data to us you confirmthat such disclosure is fair and lawful and otherwise does not contravenerelevant requirements. Nothing within this engagement letter relieves you as adata controller of your own direct responsibilities and liabilities under dataprotection legislation and regulation (including the Data Protection Act 2018,the General Data Protection Regulation (GDPR) and any related regulations.)
13.3Data protection legislation and regulation places obligations on you as a datacontroller where we act as a data processor to undertake the processing ofpersonal data on your behalf, for instance where we operate a payroll servicefor you. We therefore confirm that we will at all times take appropriatemeasures to comply with relevant requirements when processing data on yourbehalf. In particular we confirm that we have adequate security measures inplace and that we will comply with any obligations equivalent to those placedon you as a data controller. Terms relating to our responsibilities as a dataprocessor are set out in an appendix to these terms of business.
13.4Our privacy notice, can be found below..
Ifyou require us to correspond with you by email that is not encrypted orpassword protected, you also accept the risks associated with this form ofcommunication.
14Contracts (Rights of Third Parties) Act 1999
14.1Persons who are not party to this agreement shall have no rights under theContracts (Rights of Third Parties) Act 1999 to enforce any term of thisagreement. This clause does not affect any right or remedy of any person whichexists or is available otherwise than pursuant to that Act.
14.2The advice we give you is for your sole use and is confidential to you and willnot constitute advice for any third party to whom you may communicate it. Wewill accept no responsibility to third parties for any aspect of ourprofessional services or work that is made available to them.
15 Client Identification
15.1As with other professional services firms, we are required to identify ourclients for the purposes of the UK anti-money laundering and counter terrorismlegislation (AML). We may request from you and retain such information anddocumentation as we require for these purposes and/or make searches ofappropriate databases. If we are not able to obtain satisfactory evidence ofyour identity, we will not be able to proceed with the engagement. Knowing yourClient (KYC) is a fundamental process that is part of the AML framework.
15.2If you undertake business that requires you to be supervised by an appropriatesupervisory authority to follow anti-money laundering regulations including ifyou accept or make high value cash payments of €10,000 or more (or equivalent in any currency) inexchange for goods you should inform us.
15.3Any personal data received from you to comply with our obligations under theAML will be processed only for the purposes of preventing money laundering orterrorist financing. No other use will be made of this personal data unless useof the data is permitted by or under enactment other than the AML, or we haveobtained the consent of the data subject to the proposed use of the data.
15.4We may use electronic checks as part of our identification procedures. Weconfirm that these electronic checks are not credit checks.
16General limitation of liability
16.1We will provide services as outlined in this letter with reasonable care andskill. However, to the fullest extent permitted by law, we will not beresponsible for any losses, penalties, surcharges, interest or additional taxliabilities where you or others supply incorrect or incomplete information, orfail to supply any appropriate information or where you fail to act on ouradvice or respond promptly to communications from us or the tax authorities.
16.2You will not hold us, the owners of this firm and any staff employed by thefirm, responsible, to the fullest extent permitted by law, for any losssuffered by you arising from any misrepresentation (intentional orunintentional) supplied to us orally or in writing in connection with thisagreement. You have agreed that you will not bring any claim in connection withservices we provide to you against any of the principals or employeespersonally.
16.3Our work is not, unless there is a legal or regulatory requirement, to be madeavailable to third parties without our written permission and we will accept noresponsibility to third parties for any aspect of our professional services orwork that is made available to them.
17Use of our name in statements or documents issued by you
17.1You are not permitted to use our name in any statement or document that you mayissue unless our prior written consent has been obtained. The only exception tothis restriction would be statements or documents that in accordance withapplicable law are to be made public.
18Draft/interim work
18.1In the course of our providing services to you we may provide advice or reportsor other work products in draft or interim form. However final written workproducts will always prevail over any draft or interim statements. Where yourequest it, we will provide up with written confirmation of matters statedorally.
19Advice
19.1Advice we give you orally should not be relied upon unless we confirm it inwriting. We endeavour to record all advice on important matters in writing.However if you particularly wish to rely upon oral advice we give you during atelephone conversation or a meeting, you must ask for the advice to beconfirmed in writing.
19.2Unless specifically instructed and agreed in advance we will not assist withthe implementation of our advice.
20Intellectual property rights
20.1The copyright in any document prepared by us belongs to us in entirety unlessthe law specifically provides otherwise.
21 Interpretation
21.1If there is a conflict between the engagement letter and these terms ofbusiness then the engagement letter takes precedence.
21.2If any provision of this engagement letter or terms of business or itsapplication is held to be invalid, illegal or unenforceable in any respect, thevalidity, legality or enforceability of any other provision and its applicationshall not in any way be affected or impaired.
22Provision of cloud-based services
22.1Where the firm provides accounting software in the Cloud, this will be providedby a third party (the 'Cloud Supplier'). The third party has signed a confidentialityagreement with the firm to ensure compliance with the relevant clauses in thefirm's standard terms of business i.e. our fees (2), Confidentiality (8),Internet Communication (12), Data Protection Act (13) and General Limitation ofLiability(16).
22.2The service provided by the Cloud Supplier will be a discrete web based hostedfacility, and you agree that access will also be provided to the firm and thethird party.
22.3The firm cannot be held liable for any interruption of service provided by theCloud Supplier. However, we will liaise with them to help ensure that normalservice is resumed as soon as possible.
22.4Software licences for services provided to you maybe held and controlled byother members of the TAGAHL group. These members of the group follow the samestandards as ourselves to ensure compliance with clauses: Our Fees (2),Confidentiality (8), Internet Communication (12), Data Protection Act (13) andGeneral Limitation of Liability(16).
23Investment services
23.1We are not authorised by the Financial Conduct Authority to conduct InvestmentBusiness. If you require investment business services we will refer you to afirm authorised by the Financial Conduct Authority.
24Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standards
24.1Unless agreed specifically in a separate engagement letter, we are notresponsible for your compliance with the International Tax Compliance (UnitedStates of America) Regulations 2013, produced as a result of FATCA. Inparticular, we are not responsible for the categorisation of any UK entity intoeither a Financial Institution (FI) or an active or passive Non-FinancialForeign Entity (NFFE) nor, if a Financial Institution, for its registrationwith the US Internal Revenue Service (IRS) and subsequent submission of therequired annual returns to HM Revenue & Customs.
24.2However, if requested to do so we can provide advice on the completion of theforms supplied by Financial Institutions under these Regulations, or underCommon Reporting Standards, and used by them to determine the status of anentity. We can also provide advice on setting up the appropriate systems toidentify and report on your clients or beneficiaries who are foreign citizensaffected by FATCA or Common Reporting Standards.
25Period of engagement and termination
25.1Unless otherwise agreed in the engagement covering letter our work will beginwhen we receive your implicit or explicit acceptance of that letter. Except asstated in that letter we will not be responsible for periods before that date.
25.2Each of us may terminate this agreement by giving not less than 90 days' noticein writing to the other party except where you fail to cooperate with us or wehave reason to believe that you have provided us or HMRC with misleadinginformation, in which case we may terminate this agreement immediately.Termination will be without prejudice to any rights that may have accrued toeither of us prior to termination.
25.3We reserve the right to terminate the engagement between us with immediateeffect in the event of: your insolvency, bankruptcy or other arrangement beingreached with creditors; an independence issue or change in the law which meanswe can no longer act; failure to pay our fees by the due dates; or either partybeing in breach of their obligations if this is not corrected within 30 days ofbeing asked to do so.
25.4In the event of termination of this contract, we will endeavour to agree withyou the arrangements for the completion of work in progress at that time,unless we are required for legal or regulatory reasons to cease workimmediately. In that event, we shall not be required to carry out further workand shall not be responsible or liable for any consequences arising fromtermination.
25.5If we resign or are asked to resign, we will normally issue a disengagementletter to ensure that our respective responsibilities are clear. If we have nocontact with you for a period of 2 years or more, we may issue to your lastknown address a disengagement letter and thereafter cease to act.
26Limitation of third party rights
26.1Any advice we give you will be supplied on the basis that it is for yourbenefit only and shall not be disclosed to any third party in whole or partwithout our prior written consent. It may not be used or relied upon for anyother purpose or by any other person other than you without our prior writtenconsent. If our advice is disclosed to any third party (with or without ourconsent), then we accept no responsibility or liability to that third party forany consequences that may
arise to them, should they rely on the advice.
26.2If it is proposed that any documents or statement which refer to our name, areto be circulated to third parties, please consult us before they are issued.
27Timetable
27.1The services we undertake to perform for you will be carried out on a timescaleto be determined between us on an ongoing basis.
27.1The timing of our work will in any event be dependent on the prompt supply ofall information and documentation as and when required by us.
28Service and Price Guarantee
28.1 Practicename will always stand behind the quality and professional nature of theservices that we offer. If at any point you are not completely satisfied withthe services we have performed, we encourage you to bring this to our attentionimmediately. We would like the opportunity to correctly address your concernsand allow us a chance to win your trust back and prevent similar problems fromhappening in the future. If you are still not satisfied with the outcome of ourservices, we will work towards a mutual agreement regarding the payment forservices completed. As an example, we may agree to either forgo the relatedpayment or accept a portion of the originally agreed price that reflects yourlevel of satisfaction.
TAGMy Finance Team Limited Processors
Thefollowing information sets out the company name, address, and high-levelinformation on services provided to us by personal data processors. Thesesuppliers may act as sub processors in our provision of services.
Processor Name
Business Address
Activities
Airtable
799 Market St, San Francisco , USA
Standing data
Approval Max
69 Great Hampton Street
Birmingham
B18 6EW
Approval workflow automation solution for Xero and QuickBooks.
Befree Limited
3rd Floor
86-90 Paul Street
London EC2A 4NE
Support for delivery of some services
BrightPay and BrightPay Connect
Unit 35, Duleek Business Park, Co. Meath, Ireland
Payroll solutions
Capium
86-90 Paul Street
London EC2A 4NE
Accounts, Tax and Payroll production
Dext
Unit 1.1
Techspace Shoreditch South
32-38 Scrutton Street
London
EC2A 4RQ
Financial and account data SaaS
Fusesign
Level 1, 200 Creek Street
Brisbane, QLD, Australia
Document storage as part of document review and signature services
44-46 Barrow Street, Dublin, Ireland
Cloud based data storage and provision of Office applications.
Hubspot
Hubspot House, 1 Sir John Rogerson's Quay Dublin 2, Dublin 2, Dublin, Ireland
CRM software
Practice Ignition Pty Ltd
Level 7, 54-66 Wentworth Ave
Surry Hills
NSW 2010
Australia
Proposal tool, document storage as part of document review and signature services
Informdirect
Clydesdale House, 1-5 Queen Street, Ipswich, Suffolk, IP1 1SW, England.
Cloud based provider of Company Secretarial software for maintaining books of the company
Karbon
548 Market St #45902
San Francisco, California 94104-5401 US
Practice Management and Time Management software
Microsoft
One Microsoft Place
South County Business Park
Leopardstown
Dublin 18
D18 P521
Ireland
Cloud based data storage and provision of Office applications.
Xama
1 Fore St Ave, Moorgate, Barbican, London EC2Y 9DT
Anti money laundering and know your client verification SaaS including technical support.
Xero
56 Canford Cliffs Road
Poole
Dorset
BH13 7AA
Accounting software provider, including associated technical support and data storage
Zoom Video Communications Inc
55 Almaden Blvd
Suite 600
San Jose
CA 95113
Video conferencing service provision. Storage of recordings.