Terms of Business • Client Engagement • Tax Accountant Exeter
Terms of Business
These Terms of Business explain how Financials Direct Limited T/A Tax Accountant Exeter works with clients, how we accept instructions, how fees are agreed, when work starts, what happens if a client cancels, and what both parties should expect during an engagement.
We do not normally start chargeable work until identity checks, proof of address, client due diligence, engagement terms and fee approval have been completed. This protects you, protects us and helps us comply with professional and anti-money laundering obligations.
Last updated: 30 July 2026
Important status
These terms apply with your engagement letter
These Terms of Business apply to services provided by Financials Direct Limited T/A Tax Accountant Exeter unless different terms are agreed in writing. They should be read together with our engagement letter, fee quote, privacy policy, legal disclaimer and any service-specific schedule we issue.
If there is a conflict between these Terms of Business and an accepted engagement letter or service-specific schedule, the more specific accepted term will normally take priority for that engagement. A later variation is effective only where it is agreed or confirmed in writing by an authorised person.
Financials Direct Ltd is a private company limited by shares incorporated in England and Wales under company number 07496275. It trades through the Tax Accountant brand, including Tax Accountant Exeter. The practice states that its Institute of Financial Accountants reference is 211804.
These terms cover
- How we accept instructions.
- AML, identity and onboarding checks.
- Engagement letters and scope of work.
- Fees, deposits and payment terms.
- Cancellation and withdrawal rights.
- Client responsibilities and records.
- Use of staff, consultants, subcontractors and technology providers.
- Records, confidentiality, data protection and intellectual property.
- Termination, handover, liability and complaint handling.
Our engagement process
How we accept a client and start work
We use a structured process so that the scope, fee, records, responsibilities and compliance checks are clear before work begins.
Initial enquiry
You contact us with a tax, accounting, HMRC or advisory issue. An enquiry, booking, quotation or preliminary discussion does not create an adviser-client relationship. We do not accept responsibility for a deadline unless an authorised person expressly confirms in writing that the relevant work and deadline have been accepted.
Information review
We may ask for basic facts such as the tax year, income type, HMRC deadline, property details, company information, records available and the outcome required.
ID and AML checks
Before accepting work, we may request identity documents, proof of address, company and beneficial-owner details, source-of-funds or source-of-wealth information where relevant, and other information required for anti-money laundering, sanctions and risk checks.
Quote and scope
We confirm the proposed service, estimated or fixed fee, what is included, what is excluded and whether any extra work would require a separate quote.
Engagement letter
We issue an engagement letter setting out the agreed work. You must accept the engagement terms before we start chargeable work, unless agreed otherwise in writing.
Work starts
Work starts only after onboarding, engagement acceptance and any required payment or deposit, unless an authorised person expressly agrees otherwise in writing. We may decline, postpone or pause work if information, authority, approval or payment is missing.
Anti-money laundering
Identity checks, proof of address and client due diligence
We are required to carry out risk-based client due diligence and anti-money laundering checks when establishing and throughout a business relationship. This may include verifying identity and address, understanding ownership and control, obtaining source-of-funds or source-of-wealth information where relevant, sanctions screening, politically exposed person checks, proliferation-financing risk and ongoing monitoring.
We may use electronic identity verification systems, secure onboarding tools, public registers or specialist third-party providers to carry out these checks. You agree to provide accurate, current and complete information and to tell us promptly if ownership, control, residence, business activity or other relevant circumstances change.
We may refuse to act, suspend work or withdraw from an engagement where required information is not provided, identity or beneficial ownership cannot be verified, risk is outside our acceptance criteria, or professional, legal or regulatory obligations prevent us from continuing. We may be prohibited by law from explaining a report, enquiry, delay or decision where doing so could amount to unlawful disclosure or tipping off.
We are not responsible for delay caused by incomplete onboarding, missing identification, failed verification, unresolved ownership information, legal restrictions or delayed client responses. AML records are retained in accordance with applicable law and our Privacy Policy.
Engagement letter
No chargeable work starts until the engagement is accepted
An engagement letter records the scope of work, responsibilities, fee basis and service terms. It protects both parties by confirming what we have agreed to do and what is outside scope.
Unless an authorised person expressly agrees otherwise in writing, we do not begin chargeable work until the engagement letter has been accepted, onboarding has been completed and any required payment or deposit has been received. Starting work urgently does not expand the agreed scope.
The engagement letter may include
- The client name and service required.
- The tax year, company year or period covered.
- The fixed fee, estimated fee or hourly rate.
- The documents and records required.
- Client approval and filing responsibilities.
- Exclusions and work outside scope.
- Cancellation, termination and payment terms.
- Any authorised use of subcontractors, specialists or technology providers.
- Any specific liability cap, reliance restriction or document-retention term.
Client responsibilities
Your responsibilities as a client
You are responsible for providing complete, accurate and timely information. We rely on records, explanations and documents supplied by you and authorised third parties. You must tell us about every relevant fact, income source, gain, ownership interest, HMRC communication, deadline, previous filing and uncertainty, and promptly correct information that later proves incomplete or inaccurate.
You remain legally responsible for your tax returns, accounts, disclosures, claims, elections, submissions and tax payments even where we prepare or file them on your behalf. You must review drafts carefully, ask about anything you do not understand and give approval by the requested date. Silence, payment of an invoice or attendance at a meeting is not approval to file.
You must tell us about
- All income sources and gains for the relevant tax year.
- HMRC letters, penalties, enquiries or deadlines.
- Foreign income, overseas tax, crypto, property sales or gifts.
- Joint ownership, trusts, nominees or beneficial ownership issues.
- Business records, VAT records, payroll records and company details.
- Any uncertainty, missing documents or estimated figures.
- Changes in residence, ownership, control, address or contact details.
- Advice, calculations or filings prepared by another adviser.
- Any suspected error discovered after a return or document is approved.
Fees and payment
How our fees work
Fees are agreed before work starts where the scope is clear. Unless expressly stated otherwise, quoted fees exclude VAT and external disbursements. Where the facts, volume of records, urgency or scope change, we may pause the work and agree a revised fee or separate quote before continuing.
Fixed fees
A fixed fee applies only to the work described in the engagement letter and on the assumptions stated there. It assumes complete facts, usable records, timely responses and no material change in scope, law, transaction or deadline.
Estimated fees
Estimated fees are not final fees. They are guide prices until we review the facts, records, deadline and complexity. We confirm the fee before starting work.
Hourly work
Where work is charged by time, fees are based on recorded time, the seniority and expertise required, complexity, urgency and professional judgement. The applicable hourly rate or basis will be stated in the engagement or quotation.
Deposits and advance payments
We may request full payment, part payment or a deposit before work starts or before a later stage begins. Advance payments are applied against invoices for the agreed work and do not guarantee completion where required information or authority is not supplied.
Extra work
Work outside the agreed scope is charged separately only after the need is identified and, where reasonably possible, the revised basis is agreed. Examples include HMRC correspondence, missing-record reconstruction, amendments, disclosure work, new transactions, urgent deadlines or technical advice.
Payment before filing
Invoices are payable by the date stated in the engagement letter or invoice. Subject to legal, professional and consumer-law requirements, we may pause further work or decline to submit work that has not been paid for. We will not withhold original client records where law or professional obligations require their return.
Cancellation and withdrawal
Your right to cancel and our right to charge for work done
Before the engagement letter is accepted, you may withdraw your request for a quote or proposal at any time. Unless we have agreed otherwise or already carried out chargeable work at your request, there will normally be no fee before engagement.
Once the engagement letter has been accepted, a contract may exist between you and us. If you later cancel or withdraw instructions, we may charge a fair and reasonable amount for work actually carried out, time reasonably spent and agreed third-party costs incurred up to cancellation. For consumers, any charge remains subject to statutory cancellation rights and fairness requirements.
Where a fixed fee was agreed and you cancel before completion, the full fixed fee is not automatically payable. We may deduct or invoice a proportionate amount reflecting work actually supplied and legitimate committed costs, taking account of the completed stage and the agreed price. We will not impose a cancellation charge that is unlawful or unfair.
If work has been fully completed before you cancel, the full agreed fee may remain payable, subject to any legal cancellation rights that apply.
Consumer cancellation rights
Distance and off-premises contracts
If you are acting wholly or mainly outside your trade, business, craft or profession and the contract is agreed at a distance or away from our premises, you will normally have 14 days from the day after the contract is made to cancel without giving a reason, unless a statutory exception applies.
We will not normally begin a consumer service during that period unless you make an express request on a durable medium, such as the engagement acceptance or email. If you then cancel before completion, we may charge only a proportionate amount for the service actually supplied, calculated against the agreed total price.
If the service is fully performed during the cancellation period after your express request to start and your acknowledgement that the cancellation right will be lost on full performance, the right to cancel that completed service may end. We will provide cancellation information and a cancellation method where the law requires it.
Important practical point
Many tax matters are time-sensitive. If you ask us to start urgently within the 14-day period, you should understand that cancellation may not mean a full refund if work has already been done.
These provisions do not reduce rights under the Consumer Rights Act 2015, including the requirement to perform consumer services with reasonable care and skill. They should be read with the engagement letter and any statutory cancellation information or form supplied to you.
Business clients
Cancellation by business clients
If you instruct us for business, trade, profession, company, partnership, landlord business or commercial purposes, consumer cancellation rights may not apply.
If a business client cancels after engagement, we may charge for work actually carried out, reasonable time spent and agreed third-party costs or commitments incurred up to the cancellation date. A fixed-fee cancellation charge will reflect the completed stage and legitimate loss rather than automatically becoming the whole fee.
Examples of chargeable work after cancellation
- Reviewing documents and records.
- AML, onboarding and risk assessment time.
- Email, call and meeting time.
- Tax calculations or draft advice.
- HMRC correspondence or draft replies.
- Return preparation, accounts work or disclosure preparation.
- Administrative time and third-party costs.
Urgent work
Urgent deadlines and work started at your request
Where you ask us to start urgently, including during a consumer cancellation period, you must provide clear written instructions, the required early-start request, documents, authority and approval promptly. Any urgency charge must be disclosed and agreed before it applies.
Once urgent work is expressly accepted, we may immediately allocate time, review documents, prepare calculations, draft responses and carry out the agreed professional work. If you later cancel, charges remain limited to the lawful and contractually agreed amount for work supplied and legitimate costs incurred.
We do not guarantee that urgent deadlines can be met unless we expressly confirm this in writing and you provide all required information, authority, approval and payment in time.
Scope and limitations
What is included and what is outside scope
We provide only the services described in the engagement letter. Unless expressly agreed, we do not audit records, verify every document or representation, provide legal or immigration advice, give FCA-regulated investment or pension-product advice, value assets, advise every connected party or monitor future deadlines after the engagement ends.
A new issue, changed transaction, further tax year, HMRC correspondence, appeal, disclosure, amendment, residence review, Capital Gains Tax, VAT, company restructuring or implementation work may require a written variation, separate quote or new engagement. Advice is based on law and HMRC practice at the date stated and is not automatically updated for later changes.
Not included unless agreed
- Responding to future HMRC enquiries.
- Amending earlier-year returns.
- Preparing disclosures for undeclared income.
- Reviewing all bank transactions unless agreed.
- Legal, immigration, investment or financial advice.
- Monitoring deadlines after the agreed work is completed.
- Advice for connected parties who are not our client.
- Valuations, legal drafting, investment selection or regulated pension advice.
- Automatic updates after a change in law, rates, HMRC practice or the client’s facts.
HMRC work
HMRC checks, disclosures and investigations
HMRC work can be unpredictable. The time required may depend on record quality, number of taxpayers and periods, HMRC questions, information powers, behaviour and penalty issues, technical complexity and the pace of HMRC correspondence. We cannot guarantee HMRC acceptance, response time, settlement, penalty level or appeal outcome.
A quote for HMRC work covers only the agreed stage unless stated otherwise. Further HMRC questions, meetings, appeals, settlement discussions or additional calculations may require a further quote.
HMRC work may include
- Reviewing HMRC letters and deadlines.
- Preparing disclosure calculations.
- Drafting replies and explanations.
- Reviewing penalties and reasonable excuse points.
- Corresponding with HMRC where authorised.
- Advising on next steps and settlement options.
- Identifying where independent legal, valuation or expert evidence may be needed.
Documents and records
Documents you provide to us
You are responsible for retaining original records for the applicable statutory period and providing complete, legible copies where required. We may request documents through email, portal, secure upload, onboarding links or another agreed method. Sending a document does not transfer ownership of the original to us.
We are not responsible for an error or delay caused by material information that was missing, incomplete, misleading or supplied late, except to the extent that our own failure to use reasonable professional care contributed to the loss. If records are incomplete, we may pause work, request further information, qualify the work or agree a revised scope and fee.
Record quality matters
- Keep copies of all tax and accounting records.
- Tell us where figures are estimated.
- Do not withhold HMRC letters or earlier returns.
- Provide records by the requested deadline.
- Tell us if documents are incomplete or uncertain.
- Approve final figures only after checking them.
- Download and retain copies of final returns, accounts and advice.
- Tell us promptly if a submitted figure later appears incorrect.
Files, work product and support providers
Records, intellectual property and outsourced support
We may retain copies of correspondence, records, working papers and final deliverables for legal, professional, insurance, AML and practice-management purposes. Retention periods are described in our Privacy Policy and may continue after the engagement ends.
Templates, methodologies, internal working papers, software processes and know-how remain ours or our licensors’ property. You may use final deliverables prepared for you for the agreed purpose, but no third party may rely on them without our written agreement.
Staff, consultants and technology providers
- Work may be performed by suitably supervised employees, network accountants, consultants or subcontractors.
- Secure software, cloud, identity, communication and document-processing providers may support the engagement.
- Confidentiality, data protection, competence and access controls apply to authorised support arrangements.
- Where another regulated professional is separately engaged, that person is responsible under their own engagement.
- Restricted international data access is governed by our Privacy Policy and applicable safeguards.
Communication
Email, telephone, video meetings and portals
We may communicate by email, telephone, video call, appointment systems, online portals, secure upload tools, electronic signature or other reasonable methods. Electronic acceptance and approvals may be treated as written instructions. You must keep contact details and authorised contacts up to date.
Ordinary email is not completely secure. Sensitive documents should be sent through the secure method we identify, and passwords should be transmitted separately. You must verify any unexpected request to change bank details or make payment using a known telephone number; we are not responsible for payment sent to fraudulent details where our genuine details were not independently checked.
Client communication duties
- Respond promptly to information requests.
- Notify us of new HMRC letters immediately.
- Tell us if your address, email or telephone changes.
- Check draft returns, reports and calculations carefully.
- Do not assume work has been filed until we confirm submission.
- Check the recipient and attachments before sending confidential information.
- Verify any change to payment instructions independently.
- Keep copies of approvals and submission confirmations.
Filing and approval
Approval before submission
Where we prepare returns, accounts, VAT or payroll submissions, disclosures, claims, elections, company documents or HMRC replies, we may require written or electronic approval before submission. You are responsible for checking the identity, period, figures, statements, bank details and disclosures and for asking about anything that appears incomplete or unclear.
We will not normally submit a return, disclosure, company document or substantive HMRC response without the required approval unless a specific legal authority or accepted engagement term permits otherwise. We may refuse to submit a document that we believe is inaccurate, misleading, unlawful or unsupported.
You remain responsible for paying tax, interest, penalties, VAT, PAYE, Corporation Tax or other liabilities by the relevant deadline. We are not responsible for late payment where funds, approvals or instructions are not provided in time.
Confidentiality and data
Confidentiality, data protection and privacy
We will treat client information as confidential and use it for the engagement and legitimate practice purposes. Disclosure may occur where authorised by you, necessary for staff or service providers to perform the work, required by law, HMRC, a court, insurers, legal advisers, AML obligations or professional and regulatory duties.
Personal data is handled under current UK data protection law and our Privacy Policy. The policy explains the purposes, lawful bases, service providers, international safeguards, retention and individual rights. Confidentiality does not prevent a disclosure that the law prohibits us from telling you about.
Related policies
Professional limitations
Liability and professional responsibility
We will perform the agreed work with reasonable professional skill and care. Our duty is owed only to the client named in the engagement letter for the purpose and scope stated there. No connected person, lender, purchaser, authority or other third party may rely on the work without our prior written agreement.
We are not responsible to the extent a loss is caused by incomplete or inaccurate information, late instructions, missing approval, third-party error, change in law, HMRC or another authority, failure to pay tax, failure to mitigate loss or a matter outside scope. This does not exclude responsibility to the extent our own breach or failure to use reasonable skill and care caused the loss.
Important limitation
Advice is provided for the client and purpose stated in the engagement. It should not be passed to another person or used for a different transaction without written permission.
Any financial limitation of liability specific to the engagement must be stated in the engagement letter and is subject to applicable law and reasonableness or fairness requirements. Nothing excludes liability for fraud or fraudulent misrepresentation, death or personal injury caused by negligence, or another liability that cannot lawfully be excluded or restricted.
Right to stop work
When we may pause, refuse or terminate work
We may pause, refuse or terminate work where required information, authority or approval is not provided; AML checks cannot be completed; invoices or deposits are unpaid; information appears misleading; you ask us to act improperly; or continuing would breach law, professional standards, independence or regulatory obligations.
We may also stop acting for conflict of interest, loss of trust, abusive or threatening conduct, repeated non-cooperation, non-payment, a material change in risk, suspected criminal conduct or another good professional reason. Where lawful and practical, we will give reasonable written notice and explain the effective date without disclosing information we are legally prohibited from revealing.
On termination, you remain responsible for legal obligations, tax and payment deadlines, HMRC correspondence and appointing another adviser. Subject to law, confidentiality, professional rules, payment and any valid lien, we will provide reasonable cooperation with an authorised handover. Work not yet completed or approved may not be suitable for filing or third-party reliance.
Complaints
If you are unhappy with our service
If you are unhappy with our service, please use our Complaints Procedure so the concern can be recorded, investigated and answered. We aim to provide a written response within 14 calendar days or a progress update with a revised response date where more time is reasonably needed.
Complaints should include your name, contact details, the service involved, what went wrong and what outcome you are seeking.
Complaint contact
Email: info@taxaccountant.co.uk
Telephone: +44 800 135 7323
Financials Direct Ltd states that its principal professional-body reference is with the Institute of Financial Accountants under reference 211804. A different professional-body route may apply where another regulated accountant or adviser carried out the work.
Read the Complaints Procedure
Governing law
Law and jurisdiction
Unless mandatory law requires otherwise, these Terms of Business, each engagement and any non-contractual obligation arising from them are governed by the law of England and Wales.
The courts of England and Wales will have jurisdiction, subject to mandatory consumer rights and any rule allowing a consumer to bring proceedings in another part of the United Kingdom. A failure or delay in enforcing a term is not a waiver, and if one provision is unenforceable the remaining provisions continue so far as legally possible.
Before you instruct us
- Read these Terms of Business.
- Read the engagement letter carefully.
- Ask questions before accepting the engagement.
- Tell us if you need urgent work during a cancellation period.
- Keep records of all approvals, payments and submissions.
Common questions
Terms of Business FAQs
Do I become a client when I send an enquiry?
No. An enquiry, appointment or quotation does not create an adviser-client relationship or transfer responsibility for a deadline. We must confirm that we can act, complete required onboarding, agree the scope and fee and issue an engagement letter.
Why do you need ID and proof of address?
We must carry out risk-based client due diligence when establishing and throughout relevant business relationships. This can include identity, address, ownership, sanctions, PEP, source-of-funds and ongoing monitoring checks.
When does work start?
Work normally starts only after required ID and AML checks, engagement acceptance and any required payment or deposit. An authorised person must expressly agree any exception or urgent start in writing.
Can I cancel after signing the engagement letter?
You may cancel or withdraw instructions. Any charge for an incomplete engagement will reflect work actually supplied and legitimate agreed costs, subject to statutory consumer cancellation rights and the fairness of the contract term.
Will I be charged the full quoted fee if I cancel?
Not automatically. A charge for an incomplete fixed-fee engagement should reflect the stage completed and legitimate costs rather than automatically becoming the whole fee. A fully completed service may remain payable, subject to legal cancellation rights.
Do I have a 14-day cooling-off period?
A consumer distance or off-premises service contract will normally carry a 14-day cancellation right. If you expressly request an early start and cancel before completion, only a proportionate charge for the service supplied may be due. The right may end on full performance where the required request and acknowledgement were given.
Can you refuse to act?
Yes. We may refuse, pause or stop work where AML checks cannot be completed, information or approval is missing, invoices are unpaid, a conflict or risk issue arises, conduct is abusive, or law or professional obligations prevent continuation.
Do you submit returns without approval?
We normally require written or electronic approval before submitting returns, disclosures, accounts, company documents or substantive HMRC replies. You remain responsible for reviewing the complete document and paying liabilities by the deadline.
Do quoted fees include VAT and external costs?
Quoted fees exclude VAT and third-party costs unless the quotation or engagement letter says otherwise. Any material external cost or revised scope should be identified and agreed before it is incurred where reasonably possible.
Can other staff or specialists work on my engagement?
Yes. Suitably supervised employees, network accountants, consultants, subcontractors and secure technology providers may support the work. Confidentiality, competence, access control and data-protection requirements apply to authorised arrangements.
Does the engagement exclude every type of liability?
No. Any engagement-specific limitation is subject to applicable law and fairness or reasonableness requirements. Nothing excludes liability for fraud or fraudulent misrepresentation, death or personal injury caused by negligence, or another liability that cannot lawfully be excluded.
Ready to instruct us?
Contact us before the deadline becomes a problem
If you need Self Assessment, landlord tax, CGT, VAT, payroll, Corporation Tax, HMRC compliance check or tax disclosure support, contact us and we will explain the next step.