Terms of Business for the Provision of Professional Services

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

1.        Where applicable, “we”or “our”means or refers to Wellwood Hoyle Associates Limited, a company registered in England and Wales (Numbered 4173162) whose registered office is at 56a Main Road, Bolton le Sands, Carnforth, Lancashire,  LA5 8DN.  The firm holds a practising certificate from The Chartered Association of Certified Accountants, firm reference number 0663949 and the principal, Philip Hoyle is a Fellow of The Chartered Association of Certified Accountants, membership number 0954997.

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

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

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

5.        Clients are required to be fully honest with us, and to ensure all relevant information & documentation is correct and provided to us in a timely manner.  We accept no liability or responsibility where we have not been provided with full, complete and accurate information and documenation within the timescales agreed.

6.        We accept no responsibility for loss or damage to client’s property (including books of account, statements, invoices, etc)  and all clients should ensure that their business insurance policy adequately covers such loss or damage in transit or at our premises.  Clients must arrange to collect their property as soon as practicable after we have completed the services for which they were required, any client’s property not collected within a reasonable time may be disposed of at our discretion.  Any documents (either in physical or electronic format) we create during the course of our engagement, such as photocopies, working papers, schedules, correspondence, etc., remains our legal property.

7.        We shall normally charge each client for all the time we spend on their affairs and for all expenses we incur directly resulting from providing our services to that client.  Our charges vary according to the nature, technical complexity and urgency of the services required.  Time is charged in time units of ten minutes, at between £5 and £15 per unit of time.  Invoices will be raised at regular intervals and are due for payment within fourteen days.  Alternative charging structures may be available, such as retainers and fixed fee agreements, and will be agreed within our letter of engagement.

8.        In the case of private limited company clients, our letter of engagement must be signed by all directors and shareholders owning more than 10% of the issued share capital of the company.  All individuals signing our letter of engagement shall be jointly and severally liable for payment of our fees should the private limited company be unable or unwilling to settle its liabilities to us.

9.        Should we receive any commission from a third party resulting from providing any services to you, we shall apply the amount received towards our time costs in providing those services.  Due to administration costs, we will not advise you of any amounts received which are less than £50 unless you advise us in writing to the contrary.

10.     To enable us to perform our services, 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.  Communications and documentation between ourselves and our clients may be recorded in electronic format.  Your agreement to these terms and conditions authorises us to do so without further notice to yourself.  You have a right of access, under data protection legislation, to the personal data that we hold about you.  We will keep electronic information only for such a period as we think it is reasonably required and then it will be destroyed.  All information in our possession is treated as private and confidential and will not be divulged to third parties except with our client’s express consent except in circumstances permitted by law, which include:- (i) where we are legally compelled to do so. (ii) where there is a duty to the public to disclose, or (iii) where our interests require disclosure (i.e. in defence of an action against us).  For the purposes of the Data Protection Act 1998, the Data Controller in relation to personal data supplied about you is Philip Hoyle.  Our registration number with the Information Commissioner’s Office is Z8404820.

11.     Investment business is regulated under the Financial Services and Markets Act 2000. We are not authorised under this Act.  The firm is registered with the Association of Chartered Certified Accountants for carrying out exempt regulated activities and may therefore provide a limited range of investment business services that arise out of the provision of our main professional services. 

12.     We are not permitted to hold client’s monies and clients must not send us cash or cheques made out to us, for onward submission to third parties for payments such as tax and pensions.  We shall, however, forward our client’s cheques in such cases on the grounds that they are already made out payable directly to the third party and not ourselves.  Payment of our fees must be made by cheque, standing order or bank transfer.  As we are neither insured, nor have special security measures in place, to handle cash, we cannot accept payments in cash in excess of £500 except by prior agreement.  Cash must be paid in person and a receipt obtained – we accept no responsibility for cash sent through the post or our letterbox.

13.     We shall not be liable for loss of any nature not caused by our negligence or breach of this agreement.  Except in the case of  death or personal injury our entire liability shall never exceed the actual fee paid for the specific service causing the loss.  Should any client require a higher level of compensation, which may be available by prior agreements, the letter of engagement shall confirm the level agreed.  We shall never be liable for fines, penalties, or interest charged upon the client due to late or inaccurate submissions or payments.

14.     This agreement shall be governed in accordance with the Laws of England.If any provision of these terms and conditions is held to be invalid or unenforceable in whole or in part, the validity of the other provisions shall not be affected.

 If you want any explanations of these terms and conditions, or if you are unable to accept any particular section, please let us know.