Standard Terms & Conditions of Business

1. Applicable Law
These terms and conditions, together with any engagement letters, are governed by and construed in accordance with English law. Both parties agree that the courts of England will have exclusive jurisdiction in any disputes or claims arising from these terms. Each party irrevocably waives any objection to the courts of England and Wales as the forum for disputes.

2. Client Identification
In compliance with UK anti-money laundering legislation, we are required to verify the identity of all clients. We may request identification documents and perform necessary searches in relevant databases.

3. Client Money
Where applicable, any money held on your behalf will be kept in a segregated client account, separate from the firm’s funds. This money will be held in trust until disbursed or returned.

4. Commissions and Benefits
In some cases, we may receive commissions or other benefits from third parties. We will disclose the amount and the terms of such benefits in writing to you if this occurs. These payments may result from introductions made or transactions arranged on your behalf.

5. Complaints Procedure
We aim to provide high-quality service at all times. However, if you are dissatisfied, please contact your assigned accountant. If the issue remains unresolved, escalate your complaint in writing to info@daykinscott.co.uk, and it will be addressed by a director of the company. We adhere to the complaints procedures of ACCA, AAT, and CTA, and will refer unresolved issues to these regulatory bodies if necessary.

6. Confidentiality
All communication and information shared with us will be treated as confidential. We will not disclose any information unless required by law, regulation, insurers, or for professional peer review. We may subcontract certain tasks to other professionals who will also be bound by these confidentiality obligations.

7. Conflicts of Interest
We will inform you promptly if any conflict of interest arises. If a conflict of interest is identified, we will implement safeguards to manage the conflict or cease acting for you if it cannot be resolved in your best interests.

8. Data Protection (GDPR)
We are committed to protecting your personal data in accordance with the General Data Protection Regulation (GDPR). For details on how we process personal data, please see our Privacy Policy. We will not share your data without your permission unless required by law.

9. Disengagement
If you request that we resign or we choose to resign, we will issue a disengagement letter to confirm the end of our services. If we have had no contact with you for more than one month, we may issue a disengagement letter to your last known address and cease providing services.

10. Electronic Communication
We may communicate with you via email or other electronic means. While we take reasonable precautions to ensure security, electronic communication is not entirely secure, and we cannot be held responsible for any damages arising from electronic communication failures. If you prefer not to use electronic communication, please inform us in writing.

11. Fees and Payment Terms
Our fees will be based on the time spent on your affairs, the complexity of the work, and the level of responsibility involved. We will bill monthly, and payment is due within 14 days of invoice issuance. VAT will be added where applicable. If invoices are not paid on time, we reserve the right to charge interest at 5% above the Bank of England base rate and suspend or cease services until the outstanding balance is cleared.

12. Limitation of Liability
We will provide our services with reasonable care and skill. Our liability to you is limited to the value of the fees paid for the specific service in question, except in cases of negligence or wilful default. We are not liable for losses arising from incomplete or inaccurate information provided by you or any delays beyond our control.

13. Retention of Papers
You are legally required to retain records for a specified period. For individuals with trading or rental income, documents must be retained for 5 years and 10 months after the end of the tax year. Companies, LLPs, and other corporate entities must retain documents for 6 years after the accounting period ends. We may destroy older documents unless you specifically request otherwise.

14. Intellectual Property
Any advice, reports, or other documents produced by Daykin Scott Accountants LTD remain our intellectual property unless otherwise agreed in writing.

15. Termination
Both parties have the right to terminate this agreement with 30 days’ notice, except in cases of serious breaches, such as providing false information, which will result in immediate termination. Upon termination, we will work with you to complete any outstanding work unless required to cease immediately due to legal or regulatory reasons.