General Terms & Conditions of Business

This post sets out the basis on which we provide services to your company, partnership or sole trader business, so as to avoid any misunderstandings.

Purpose, Scope and Output of the Engagement

Services being provided

Integrated Accounts Limited will provide professional services at your request.

The details of the services provided during the engagement will be agreed between us at the commencement of the engagement. The period of the engagement will be set out in the engagement letter.

Our fees for providing these services are payable monthly in arrears by direct debit.

Anti money laundering legislation

All accountants and bookkeepers must comply with the Proceeds of Crime Act 2002, the Terrorism Act 2000 and the Money Laundering Regulations 2017 (the “Anti Money Laundering Legislation”), which are intended to stop the activities of terrorists and other criminals by preventing them using accountancy services. If we do not comply with this legislation, we risk imprisonment.

Before we can act for your business, we have to confirm the identity of the directors, shareholders, partners and business owners. At any time we may also need to obtain evidence confirming the identities of third parties, the source of any money or funding of property or other assets, and other matters.

We assume that our clients are honest and law abiding. However, if at any time we have grounds to suspect that crime is being committed, we are obliged to make a report to the National Crime Agency (NCA). We are prohibited by the legislation from telling you that we have done this. In such circumstances, we cannot do any work for your company without consent from NCA.

‘Criminal property’ is money, property, other assets, rights or any benefit derived from criminal activity. Activity is considered ‘criminal’ if it is a crime under UK law, no matter how trivial. Tax evasion is a criminal offence but an honest mistake is not.

It does not matter who carried out the criminal activity. Even if you are honest in your dealings, if your property represents a benefit from someone else’s crime, we must still make a report.

Disclaimer: We will not be liable for any loss suffered by you or any third party as a result of our compliance with the Anti Money Laundering Legislation or any UK law.

Client monies

We do not generally hold monies on behalf of clients.

However, exceptionally if we were to hold monies and if there were grounds to suspect that any monies held are derived directly or indirectly from any criminal activity whatsoever, we may not release such monies until we receive permission to do so from NCA.

Fees

As a modern & progressive firm we have moved all of our engagements to a fixed price agreement model. What does this mean for you?

You will always know how much you will pay for services in advance, and will always have the opportunity to discuss the agreement before we get started on any work. If new work is required outside of the scope of our existing agreement we will issue a written proposal for you to accept (or discuss) before we commence new services.

It places the risk back on us, the practice. You don’t have to worry about paying for more hours than you thought it would take. We have to focus on being more efficient to ensure our relationship is mutually profitable.

This means we can leverage the best in breed technology to constantly improve the quality of the services we deliver to you. It opens the lines of communication. You don’t have to be afraid to contact us with questions and be worried about receiving a bill for your time.

All of our fixed price agreements include support and regularly scheduled review sessions. In fact, we encourage constant communication between you and your team and ours. Becoming your trusted advisor is our mission and open communication is the key.

Recurring fess are payable monthly by Direct Debit on or around the 22nd of the month and you will be advised in advance by email of the amount being collected every month. Single invoice fees are also payable by Direct Debit after 7 days and again, you will be advised in advance via email of the amount being collected.

Direct Debit is one of the safest and most secure payment methods available. All transactions are covered by the Direct Debit Guarantee. This means you can request an immediate refund of any Direct Debit payment, taken from your account by any organisation in error, simply by calling your bank and asking for it. You can’t get much better peace of mind than that.

You can view the Direct Debit Guarantee here: GoCardless Direct Debit Guarantee

Integrated Accounts Limited uses GoCardless Ltd to process Direct Debits on it’s behalf.

Interest will be charged on all overdue debts at the rate stated on the invoice or, at the rate applicable under the Late Payment of Commercial Debts (Interest) Act 1998, whichever is the higher.

Should you have any disagreement concerning a fee, this must be notified to us within 7 days of the invoice date. In the absence of such notification, you are deemed to have accepted the invoice and it is payable in full accordance with our normal terms.

If you are not satisfied with the outcome of our services, we will work towards a mutual agreement regarding the payment for services completed. As an example, we may agree to either forgive the related payment or accept a portion of the originally agreed price that reflects your level of satisfaction.

If this letter of engagement covers work for a limited company or partnership and the company or partnership is unable to meet our fees as and when they fall due then the company’s directors or the partners in the partnership will be personally, jointly and severally liable in respect of our outstanding fees.

Commissions or other benefits

While we will notify you of any commissions received, you agree that we may retain any such commissions.

Ownership of records

In the event of non-payment of our fees, we may exercise a right of lien over the books and records in our possession and withhold the documents until such time as payment of our invoice is received in full.

File destruction

Correspondence and other papers that we may hold older than 6 years will be destroyed unless you request their return in writing. Documents can be collected FOC but a fee will be charged for returning documents by post.

Customer service

We are committed to providing a high standard of customer service. We welcome suggestions on how our service to you could be improved. We hope that you will not have the need to complain but if you do, we will look into your complaint carefully and promptly and do all we can to explain the position to you and address your concerns.

Third parties

All accounts, statements and reports prepared by us are for your exclusive use within your business or to meet specific statutory responsibilities.

No third party shall acquire any rights under any agreement to provide professional services.

Applicable law

This engagement letter is governed by, and construed in accordance with the law of the relevant UK jurisdiction as determined by law. Each party irrevocably waives any right it may have to object to any action being brought in Courts of the relevant jurisdiction.

Agreement of terms

Once agreed, the engagement letter will remain effective from the date of signature until it is replaced. Either party may vary or terminate our authority to act for you at any time without penalty and the engagement may be cancelled by either party giving the other 30 days notice in writing.

If you do not sign the engagement letter to indicate that it is in accordance with your understanding of the engagement but continue to instruct us and/or request us to undertake work on your behalf we will consider those instructions and/or requests for work product as an acceptance by you of these terms.

Disengagement

Should you wish to start using an alternative firm of advisers and give notice of cancellation as set out above any fees due will continue to be payable during the disengagement process.

Integrated Accounts Limited is unable to refund fees paid for work in advance, for example accounts preparation, as work will have been undertaken during the year, and as part of the handover to your new advisers, that ensures the disengagement goes as smoothly as possible.