Schedule of work

This document and the associated standard terms of business set out the basis on which we provide our services as accountants and tax agents. The wording is standard wording provided by the Institute of Chartered Accountants in England & Wales (ICAEW).

In places the document sets out your and our respective responsibilities, as legally this is where the responsibility lies, but it is acknowledged that in this regard you engage us to advise and assist you with all compliance matters.

This schedule should be read in conjunction with the engagement letter and the standard terms and conditions.

1        Preparation of company accounts

1.1       Our responsibilities

1.1.1      We will prepare the financial statements in accordance with the requirements of the Companies Act 2006 to enable profits to be calculated to meet the requirements of section 42 of the Finance Act 1998, as amended by the Finance Act 2002 and to provide sufficient and relevant information to complete a tax return. We will compile the financial statements for your approval based on the accounting records that you maintain and the information and explanations that you give us.

1.1.2      We will make enquiries of management and undertake any procedures that we judge appropriate but are under no obligation to perform procedures that may be required for assurance engagements such as audits or reviews.

1.1.3      We will check that the company is exempt from an audit of the financial statements. If we find that the company is not entitled to the exemption, we will inform you of this.

1.1.4      Our work will not be an audit of the financial statements in accordance with International Standards of Auditing (UK and Ireland). We will therefore not be able to provide any assurance that the accounting records or the financial statements are free from material misstatement, whether caused by fraud, other irregularities or error nor to identify weaknesses in internal controls.

1.1.5      Since we will not carry out an audit, nor confirm in any way the accuracy or reasonableness of the accounting records, we cannot provide any assurance whether the financial statements that we prepare from those records will present a true and fair view.

1.1.6      We will advise you on whether your records are adequate for preparation of the financial statements and recommend improvements.

1.1.7      We have a professional duty to compile financial statements that conform with generally accepted accounting principles from the accounting records and information and explanations given to us. Furthermore, as a director you have a duty to prepare financial statements that comply with the Companies Act 2006 and applicable accounting standards. If we find that the financial statements do not conform to generally accepted accounting principles, or if the accounting policies adopted are not immediately apparent, we must disclose this in the financial statements.

1.1.8      We also have a professional responsibility not to allow our name to be associated with financial statements that we believe may be misleading. Therefore, although we are not required to search for such matters, should we become aware, for any reason, that the financial statements may be misleading, we will discuss the matter with you with a view to agreeing appropriate adjustments and/or disclosures in the financial statements. In circumstances where adjustments and/or disclosures that we consider appropriate are not agreed by you or where we are not provided with appropriate information, and as a result we consider that the financial statements are misleading, we will withdraw from the engagement.

1.1.9      As part of our normal procedures we may ask you to confirm in writing any information or explanations given to us orally during our work.

1.1.10   We will report to the Board of Directors, as appropriate, that in accordance with this document and to assist you to fulfil your responsibilities, we have not carried out an audit but have compiled the financial statements from the accounting records and from the information and explanations supplied to us. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company’s Board of Directors, as a body, for our work or for this report.

1.2       Your responsibilities

1.2.1      As a director of the company, on behalf of the Company, you are responsible for preparing financial statements which give a true and fair view and which have been prepared in accordance with the Companies Act 2006 (the Act). As a director you must not approve the financial statements unless you are satisfied that they give a true and fair view of the assets, liabilities, financial position and profit or loss of the company.

1.2.2      In preparing the financial statements, you are required to:

  • Select suitable accounting policies and then apply them consistently
  • Make judgements and estimates that are reasonable and prudent
  • Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

1.2.3      You are responsible for keeping adequate accounting records that set out with reasonable accuracy at any time the company’s financial position, and for ensuring that the financial statements comply with United Kingdom Generally Accepted Accounting Practice (UK GAAP) and with the Companies Act 2006.
You are also responsible for safeguarding the assets of the company and hence for taking reasonable steps to prevent and detect fraud and other irregularities.

1.2.4      You are responsible for deciding whether, in each financial year, the company meets the conditions for exemption from an audit, as set out in section 477 (or 480) of the Companies Act 2006, and for deciding whether the exemption cannot be claimed that year for any of the reasons set out in sections 476, 478 or 479.

1.2.5      You are responsible for ensuring that the company complies with laws and regulations that apply to its activities, and for preventing non-compliance and detecting any that occurs.

1.2.6      You have undertaken to make available to us, as and when required, all the company’s accounting records and related financial information, including minutes of management and directors’ meetings that we need to do our work.

1.2.7      If financial information is published, which includes a report by us or is otherwise connected to us, on the company’s website or by other electronic means, you must inform us of the electronic publication and obtain our consent before it occurs and ensure that it presents the financial information and chartered accountants report properly. We have the right to withhold consent to the electronic publication of our report or the financial statements if they are to be published in an inappropriate manner.

1.2.8      You must set up controls to prevent or detect quickly any changes to electronically published information. We are not responsible for reviewing these controls nor for keeping the information under review after it is first published. You are responsible for the maintenance and integrity of electronically published information, and we accept no responsibility for changes made to any information after it is first posted.

2        Maintenance of accounting records

2.1       Our responsibilities

We agree to prepare the financial statements based on the completed quarterly returns and supporting documents and information and explanations given to us.

2.2       Your responsibilities

2.2.1      You agree that you will:

  • Keep records of all receipts and payments
  • Keep records of all company bank and debit and credit card transactions
  • Maintain accounting records using the electronic bookkeeping software provided by us, and as set out in our handbook
  • Permit us to access your electronic bookkeeping software
  • Email to us any supporting documents required by us to prepare the financial statements.

3        Taxation services (Corporation Tax)

3.1       Our responsibilities

3.1.1      We will prepare the Company’s corporate tax self-assessment (CTSA) return. After obtaining your approval as an authorised nominated director, we will submit it to HM Revenue & Customs (HMRC).

3.1.2      We will prepare the corporation tax computation and the supporting schedules required for the preparation of the CTSA return from the accounts and any further information and explanations provided to us by you.

3.1.3      We will tell you how much tax the company should pay and when. If appropriate, we will initiate repayment claims when tax has been overpaid.

3.1.4      We will advise you as to possible tax return related claims and elections arising from information supplied by you. Where instructed by you, we will make such claims and elections in the form and manner required by HMRC.

3.1.5      A private company is required to file its financial statements at Companies House within nine months of the year end. The company will be liable to a fine if it fails to do so.

We will act as your agent to submit the financial statements to Companies House. However, we accept no responsibility for fines or regulatory action taken against the directors where the statutory financial statements are not available for filing.

3.2       Your responsibilities

3.2.1      As a director, on behalf of the Company, you are legally responsible for:

  • Ensuring that the Corporation Tax Self-Assessment (CTSA) return is correct and complete
  • Filing any returns by the due date
  • Making payments of tax on time

Failure to do this may lead to automatic penalties, surcharges and/ or interest.

3.2.2      To enable us to carry out our work, you agree:

  • That all returns are to be made on the basis of full disclosure of all sources of income, charges, allowances and capital transactions
  • To provide full information necessary for dealing with the company’s affairs (we will rely on the information and documents being true, correct and complete and will not audit the information or those documents)
  • To authorise us to approach such third parties as may be appropriate for information that we consider necessary to deal with the company’s affairs
  • To provide us with information in sufficient time for the Company’s return to be completed and submitted by the due date following the end of the tax year (for the sake of good order we ask that all relevant information be made available to us no later than two months after the end of the accounting year)
  • To provide us with information on advances or loans made to the directors, shareholders or their associates during an accounting period, and any repayments made or write offs authorised at least within two months of the end of the relevant accounting period.

3.2.3      You will keep us informed of material changes in circumstances that could affect the tax liabilities of the company. (If you are unsure whether the change is material or not please let us know so that we can assess the significance).

3.2.4      You will forward to us all HMRC statements of account, copies of notices of assessment, letters and other communications received from HMRC in time to enable us to deal with them as may be necessary within the statutory time limits. (Although HMRC have the authority to communicate with us when their form 64-8 has been signed and submitted, it is essential that you let us have copies of any correspondence received as HMRC are not obliged to send us copies of all communications issued to you).

3.2.5      The work described in this section of this document will be in respect of the company’s tax affairs. Any work to be carried out for the directors on a personal basis will be as set out in a later section of this document.

4        Company secretarial

Companies are open to the fraudulent activities of third parties unless their details and those of their directors are removed from the public register at Companies House.

4.1       Our responsibilities

4.1.1      If contracted to do so:

  • We will register our address as your registered office address
  • We will appoint a member of our staff to act as your company secretary
  • We will register our office as your Single Alternative Inspection Location (SAIL) address
  • We will register your Company under the Companies House PROtected Online Filing (PROOF) scheme
  • We will register our office address as the Director’s Service Address for each director of the Company
  • We will complete and submit to Companies House the company’s annual return
  • We will complete and submit to Companies House any other forms which are required by law to be filed at Companies House, provided that you keep us fully informed of any relevant changes or events which are required to be notified to Companies House
  • We will maintain the statutory books at the registered office.

5        Payroll services

FreeAgent bookkeeping software is capable of processing your payroll. However, if you feel uncomfortable taking responsibility for the compliance issues involved, we will assume responsibility for processing your payroll.

5.1       Our responsibilities

5.1.1      If contracted to do so, we will process your payroll as follows:

(a) As your agent, we will register your PAYE scheme with HMRC.

(b) We will prepare your UK payroll for each payroll period to meet UK employment tax requirements, specifically:

  • Calculating the pay as you earn (PAYE) deductions
  • Calculating the employees’ National Insurance Contributions (NIC) deductions
  • Calculating the employer’s NIC liabilities
  • Calculating statutory payments, for example, Statutory Sick Pay and/or Statutory Maternity pay
  • Calculating other statutory and non-statutory deductions.

5.1.2      We will prepare and send to you the following documents for each payroll period at or before the time of payment:

  • A payslip for each employee unless not required
  • A payroll summary report showing the reconciliation from gross to net for each employee and all relevant payroll totals
  • A P45 for each leaver.

5.1.3      We will prepare and send to you a Form P60 for each employee on the payroll at the yearend by the statutory due dates at the end of the payroll year, provided we have the necessary information from you.

5.1.4      We will prepare and submit your Employer Annual Return (forms P35 and P14) to HMRC by the statutory due dates at the end of the payroll year, provided we have the necessary information from you.

5.2       Your responsibilities

5.2.1      You will decide on the level of salary to be paid each month, inclusive or exclusive of National Insurance,

5.2.2      You will pay net salaries, after deductions, into employees’ personal bank accounts, and pay the PAYE and National Insurance directly to HMRC.

6        Benefits in kind returns (forms P11D, P9D and declaration P11D(b)) and Class 1A National Insurance contributions

6.1       Our responsibilities

6.1.1      If contracted to do so:

  • We will prepare forms P11D and P9D as may be required for each employee, including directors, based on the accounts, information and explanations provided to us by you.
  • We will submit the forms P11D and P9D with the form P11D(b) after the form P11D(b) has been signed by the Company Secretary.
  • We will prepare and send to you the P11D information for you to forward to your employees and directors by the statutory due date.
  • We will calculate the Class 1A NIC liability on the benefits returned in forms P11D that you are obliged to pay HMRC by the due date and send payment instructions to you.

7        Value added tax

It may be appropriate to register for value added tax (VAT). FreeAgent bookkeeping software is capable of processing your VAT returns.

7.1       Our responsibilities

7.1.1      If contracted to do so:

  • We will register your company for VAT, and assist with any initial enquiries.
  • We will review and submit your VAT return on your behalf.

7.2       Your responsibilities

7.2.1      You will be responsible for completing all VAT returns using the FreeAgent bookkeeping software.

7.2.2      You will be responsible for managing all visits by HMRC to your own premises for the purpose of inspecting company records.

8        Personal tax – individuals

Company directors are required to complete a self-assessment tax return with an employment page for their directorship. If contracted to do so, we will undertake the preparation of self-assessment tax returns for directors and the agreement of the directors’ personal tax liabilities for each fiscal year.

8.1       Our responsibilities

8.1.1      We will prepare your self assessment tax returns together with any supplementary pages required from the information and explanations that you provide to us. After obtaining your approval and signature, we will submit your returns to HM Revenue & Customs (HMRC).\

8.1.2      We will calculate your income tax, national insurance contributions (NIC) and any capital gains tax liabilities and tell you how much you should pay and when. We will advise on the interest, penalty and surcharge implications if tax or NIC is paid late. We will also check HMRC’s calculation of your tax and NIC liabilities and initiate repayment claims if tax or NIC has been overpaid.

8.1.3      Other than as regards tax credits (see below) we will advise you as to possible tax return related claims and elections arising from information supplied by you. Where instructed by you, we will make such claims and elections in the form and manner required by HMRC.

8.1.4      If requested, we will review PAYE notices of coding provided to us and advise accordingly.

8.2       Your responsibilities

8.2.1      You are legally responsible for:

(a) Ensuring that your self assessment tax returns are correct and complete;

(b) Filing any returns by the due date; and

(c) Making payment of tax on time.

Failure to do this may lead to automatic penalties, surcharges and/or interest. Taxpayers who sign their returns cannot delegate this legal responsibility to others. You agree to check that returns that we have prepared for you are complete before you approve and sign them.

8.2.2      To enable us to carry out our work you agree:

(a) That all returns are to be made on the basis of full disclosure of all sources of income, charges, allowances and capital transactions;

(b) To provide full information necessary for dealing with your affairs: we will rely on the information and documents being true, correct and complete and will not audit the information or those documents;

(c) To authorise us to approach such third parties as may be appropriate for information that we consider necessary to deal with your affairs; and

(d) To provide us with information in sufficient time for your tax return to be completed and submitted by the due date following the end of the tax year. In order that we can do this, we need to receive all relevant information by 15 November at the very latest. Where feasible we may agree to complete your return within a shorter period but may charge an additional fee of £50 plus VAT for so doing.

8.2.3      You will keep us informed of material changes in your circumstances that could affect your tax liability. If you are unsure whether the change is material or not please let us know so that we can assess its significance.

8.2.4      You will forward to us HMRC statements of account, copies of notices of assessment, letters and other communications received from HMRC in time to enable us to deal with them as may be necessary within the statutory time limits. Although HMRC have the authority to communicate with us when form 64-8 has been signed and submitted it is essential that you let us have copies of any correspondence received because HMRC are not obliged to send us copies of all communications issued to you.

8.2.5      Our services as set out above are subject to the limitations on our liability set out in the engagement letter and in paragraph 18 of our standard terms of Business. These are important provisions which you should read and consider carefully

9        Tax Credits

If contracted to do so, we will advise you on tax credits we will issue a separate letter or schedule to cover this area. Tax credits are, in effect, a social security benefit. Your entitlement or otherwise will depend not only on your own circumstances but also those of your household and we would require all relevant information to advise in this regard.

10     Ad hoc and advisory work

If contracted to do so, we will provide such other taxation ad hoc and advisory services as may be agreed between us from time to time. These may be the subject of a separate engagement letter at our option. Where appropriate we will discuss and agree an additional fee for such work when it is commissioned by you. Examples of such work include:

  • Advising on ad hoc transactions, preparing additional supplementary pages to your tax return and calculating any related liabilities;
  • Dealing with any enquiry opened into your tax return by HMRC;
  • Preparing any amended returns which may be required and corresponding with HMRC as necessary;
  • Where specialist advice is required on occasions we may need to seek this from or refer you to appropriate specialists.

Terms of Business

The following terms of business apply to all engagements accepted by Accounting For Less Limited. All work is carried out under these terms except where changes are expressly agreed in writing.

1        Applicable law

1.1      Our engagement letter and our standard terms and conditions of business are governed by, and should be construed in accordance with English law. Each party agrees that the courts of England will have exclusive jurisdiction in relation to any claim, dispute or difference concerning this engagement letter and any matter arising from it on any basis. 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

2.1      As with other professional services firms, we are required to identify our clients for the purposes of the UK anti-money laundering legislation. We may request from you, and retain, such information and documentation as we require for these purposes and/or make searches of appropriate databases.

3        Client money

3.1      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.

3.2      We will not pay interest on monies held by us on your behalf.

3.3      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 practise then we may pay those monies to a registered charity.

4        Commissions or other benefits

4.1      In some circumstances we may receive commissions or other benefits for introductions to other professionals or transactions we arrange for you. You agree that we retain such commission or other benefits without being liable to account to you for any such amounts.

5        Complaints

5.1      We are committed to providing you with a high quality of service that is efficient and effective. However, should there be any cause for complaint in relation to any aspect of our service, or if at any time you would like to discuss with us how our service to you could be improved please contact Charles Fowler.

5.2      We agree to look into any complaint carefully and promptly and do everything reasonable to put it right. If you are still not satisfied you can refer your complaint to our professional body, the Institute of Chartered Accountants in England and Wales.

6        Confidentiality

6.1      Communication between us is confidential and we shall take all reasonable steps to keep confidential your information except where we are required to disclose it by law, by regulatory bodies, by our insurers or as part of an external peer review. Unless we are authorised by you to disclose information on your behalf this undertaking will apply during and after this engagement.

6.2      We may, on occasions, subcontract work on your affairs to other tax or accounting professionals. The subcontractors will be bound by our client confidentiality terms.

6.3      We reserve the right, for the purpose of promotional activity, training or for other business purpose, to mention that you are a client. As stated above we will not disclose any confidential information.

7        Conflicts of interest

7.1      We will inform you if we become aware of any conflict of interest in our relationship with you or in our relationship with you and another client unless we are unable to do so because of our confidentiality obligations. We have safeguards that can be implemented to protect the interests of different clients if a conflict arises. Where conflicts are identified which cannot be managed in a way that protects your interests then we regret that we will be unable to provide further services.

7.2      If there is a conflict of interest that is capable of being addressed successfully by the adoption of suitable safeguards to protect your interests then we will adopt those safeguards. We reserve the right to provide services for other clients whose interests are not the same as yours or are adverse to yours subject of course to the obligations of confidentiality referred to above.

8        Copyright

8.1 The handouts, supplementary notes and accounting schedules supplied by Competex Limited are the subject of copyright and are for your personal use. We would ask you to respect this copyright and not to make copies available to third parties. 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.

9        Data Protection

9.1      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 company, its officers and employees. We confirm that when processing data on your behalf we will comply with the relevant provisions of the Data Protection Act 1998.

10     Disengagement

10.1      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 six months or more we may issue to your last known address a disengagement letter and hence cease to act.

11     Electronic and other communication

11.1      Unless you instruct us otherwise we may, where appropriate, communicate with you and with third parties via email or by other electronic means. The recipient is responsible for virus checking emails and any attachments

11.2      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 which 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. If you do not wish to accept these risks, please notify us in writing and we will communicate by paper mail, other than where electronic submission is mandatory.

11.3      Any communication by us with you sent through the post system is deemed to arrive at your postal address two working days after the day that the document was sent.

12     Fees and payment terms

12.1      We reserve the right to charge interest on overdue accounts at the rate of 3% above bank base rate under the Late Payment of Commercial Debts (Interest) Act 1998. We also reserve the right to suspend our services or to cease to act for you if payment of any fees is unduly delayed.

12.2      If you do not accept that an invoiced fee is fair and reasonable you must notify us within 21 days of the invoice date, failing which you will be deemed to have accepted that payment is due.

12.3      If a client company, trust or other entity is unable or unwilling to settle our fees we reserve the right to seek payment from the individual giving us instructions and we shall be entitled to enforce any sums due against that individual.

12.4      Unless otherwise agreed to the contrary our fees do not include the costs of any third party, counsel or other professional fees.

13     Implementation

13.1      We will only assist with implementation of our advice if specifically instructed and agreed in writing.

14     Internal disputes within a client

14.1      If we become aware of a dispute between the parties who own or are in some way involved in the ownership and management of the business, it should be noted that our client is the business and 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 normal place of business for the attention of the directors. If conflicting advice, information or instructions are received from different directors in the business we will refer the matter back to the board of directors and take no further action until the board has agreed the action to be taken.

15     Interpretation

15.1      If any provision of our engagement letter or terms of business is held to be void, then that provision will be deemed not to form part of this contract. In the event of any conflict between these terms of business and the engagement letter, the relevant provision in the engagement letter will take precedence.

16   Investment advice

16.1      We are not authorised by the Financial Services Authority (or licensed by a designated professional body) to give investment advice.

17   Lien

17.1      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.

18     Limitation of third party rights

18.1      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 which 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.

19     Professional Indemnity Insurance

19.1      Our professional indemnity insurer is Liberty Mutual Insurance Europe Ltd of Fishburns, 60 Fenchurch Street, London, EC3M 4AD. The territorial coverage is worldwide excluding USA/Canada.

20     Professional rules and statutory obligations

20.1      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 and accept instructions to act for you on this basis. In particular you give us the authority to correct errors made by HMRC where we become aware of them. We will not be liable for any loss, damage or cost arising from our compliance with statutory or regulatory obligations. You can see copies of these requirements in our offices. The requirements are also available at icaew.com/membershandbook.

21     Reliance on advice

21.1      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.

22     Retention of records

22.1      You have a legal responsibility to retain documents and records relevant to your financial affairs. You should retain them for 6 years from the end of the accounting period. You should retain them for longer if HM Revenue & Customs enquire into your company tax return.

22.2      During our work we may collect information from you and others acting on your behalf relevant to your tax and financial affairs. We will return any original documents to you if requested.

22.3      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.

23     Termination of engagement

23.1      Each of us may terminate this agreement by giving not less than 21 days’ notice in writing to the other party except where you fail to cooperate with us or we have reason to believe that you have provided us or HMRC with misleading information, in which case 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.

23.2      In the event of termination of this contract, we will endeavour to agree with you 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.

24     Limitation of liability

24.1    We will provide services as outlined in this document with reasonable care and skill. However, to the fullest extent permitted by law, we will not be responsible for any losses, penalties, surcharges, interest or additional tax liabilities where you or others supply incorrect or incomplete information, or fail to supply any appropriate information or where you fail to act on our advice or respond promptly to communications from us or the tax authorities.

24.2    You will not hold us, our principals, directors and staff, responsible, to the fullest extent permitted by law, for any loss suffered by you arising from any misrepresentation (intentional or unintentional) supplied to us orally or in writing in connection with this agreement. You have agreed that you will not bring any claim in connection with services we provide to you against any of our partners or employees personally.

24.3    Our work is not, unless there is a legal or regulatory requirement, to be made available to third parties without our written permission and we will accept no responsibility to third parties for any aspect of our professional services or work that is made available to them.

25     Changes in the law

25.1    We will not accept responsibility if you act on advice given by us on an earlier occasion without first confirming with us that the advice is still valid in the light of any change in the law or your circumstances.

25.2    We will accept no liability for losses arising from changes in the law or the interpretation thereof that are first published after the date on which the advice is given.

26     Period of engagement

26.1    This engagement will start on the date agreed below.

26.2    This letter supersedes any previous engagement letter for the period covered. Once agreed, this letter will remain effective from the date of signature until it is replaced. You or we may agree to vary or terminate our authority to act on your behalf at any time without penalty. Notice of variation or termination must be given in writing.

14     Confirmation of your agreement

14.1    By opting in at our website you confirm your agreement to the terms of business set out in this document and the attached terms of business.

14.2    If the Schedule of Work and Terms of Business are not in accordance with your understanding of our terms of appointment, please let us know.