TTAM Ltd
Terms and Conditions of Business

1.	Introduction
The services you have engaged us for are based on the package you selected and the information you provided to us. It is your responsibility to ensure that all information you provide is accurate and complete. The scope of services included in your package is detailed in your engagement letter. Only the services stated in that agreement are covered by your agreed fees (monthly, periodic, or catch-up fees).
If you have provided us with the start date of your trading or financial year and we have issued a contract based on that information, we reserve the right to charge additional fees if it later becomes clear that the dates or details you provided do not adequately cover the work required.

2.	Applicable law
Our engagement letter, the schedule of services and our standard terms and conditions of business are governed by, and should be construed in accordance with, the law and practice of England and Wales. Each party agrees that the courts of England and Wales will have exclusive jurisdiction in relation to any claim, dispute or difference concerning this engagement letter and any matter arising from it. 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.
3.	Client identification and verification
As with other professional services firms, we are required to identify and verify our clients for the purposes of the UK anti-money laundering legislation. Save in exceptional circumstances we cannot start work until this requirement has been met. We may request from you, and retain, such information and documentation as we require for these purposes and/or make searches of appropriate databases including ID verification software. If you are undertaking business that requires you to be supervised by an appropriate supervisory authority to follow anti-money laundering regulations, including if you accept or make high value cash payments of €10,000 or more (or equivalent in any currency) in exchange for goods, you must inform us.
4.	Commissions and other benefits
In some circumstances we may receive commissions and/or other benefits for introductions to other professionals or in respect of transactions that we arrange for you. Where this happens, we will notify you in writing of the amount and terms of payment and receipt of any such commissions or benefits. The same will apply where the payment is made to, or the transactions are arranged by a person or business connected with ours. The fees you would otherwise pay will not be reduced by the amount of the commissions or benefits.
5.	Complaints 
We are committed to providing you with a high-quality service that is both efficient and effective. However, should there be any cause for complaint in relation to any aspect of our service, please contact the Managing Director at TTAM Ltd. Where your complaint relates to that person, you should instead please contact our Compliance Officer. We agree to look into any complaint carefully and promptly and do everything reasonable to try and resolve it. If you are still not satisfied you can refer your complaint to our professional body, the Association of Accounting Technicians (AAT).
6.	Confidentiality
Communication between us is confidential. We shall take all reasonable steps not to disclose your information except where we are required to and as set out in our privacy notice. Unless we are authorised by you to disclose information on your behalf, this undertaking will apply during and after this engagement. 
We may, on occasions, subcontract work on your affairs to other tax or accounting professionals. The subcontractors will be bound by our client confidentiality and security terms.
7.	Conflicts of interest
If there is a conflict of interest in our relationship with you or in our relationship with you and another client that is capable of being addressed successfully by the adoption of suitable safeguards to protect your interests, then we will adopt those safeguards. 
Where conflicts are identified that cannot be managed in a way that protects your interests then we regret that we will be unable to provide further services. If this arises, we will inform you promptly. We reserve the right to act for other clients whose interests are not the same as or are adverse to yours, subject, of course, to the obligations of confidentiality referred to above.

8.	Data protection
You acknowledge that we will process your personal data in accordance with the Privacy Notice provided to you as part of the engagement letter.
9.	Disengagement 
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 365 days or more, we may issue to your last known address a disengagement letter and thereafter cease to act. 
We reserve the right following termination for any reason to destroy any of your documents that we have not been able to return to you after a period of six months unless other laws or regulations require otherwise.
10.	Electronic and other communication
As instructed, we will communicate with you and with any third parties you instruct us to as set out in our covering letter and privacy notice via email or by other electronic means. The recipient is responsible for virus-checking emails and any attachments.
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 that 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. These are risks you must accept in return for greater efficiency and lower costs. If you do not wish to accept these risks, please let us know and we will communicate by hard copy, other than where electronic submission is mandatory. 
Any communication by us with you sent through the post or DX system is deemed to arrive at your postal address two working days after the day that the document was sent.
When accessing information held electronically by HMRC, we may have access to more information than we need and will only access records reasonably required to carry out the contract.
You are required to keep us up to date with accurate contact details at all times. This is important to ensure that communications and papers are not sent to the incorrect address.
10. Fees and payment terms
Our fees may depend not only upon the time spent on your affairs but also on the level of skill and responsibility, and the importance and value of the advice that we provide, as well as the level of risk.
If we provide you with an estimate of our fees for any specific work, then the estimate will not be contractually binding unless we explicitly state that that will be the case.
Where requested, we may indicate a fixed fee for the provision of specific services or an indicative range of fees for a particular assignment. It is not our practice to identify fixed fees for more than a year ahead as such fee quotes need to be reviewed in the light of events. If it becomes apparent to us, due to unforeseen circumstances, that a fee quote is inadequate, we reserve the right to notify you of a revised figure or range and to seek your agreement thereto. 

In some cases, you may be entitled to assistance with your professional fees, particularly in relation to any investigation into your tax affairs by HMRC. Assistance may be provided through insurance policies you hold or via membership of a professional or trade body. Other than where such insurance was arranged through us, you will need to advise us of any such insurance cover that you have. You will remain liable for our fees regardless of whether all or part are liable to be paid by your insurers.
We will issue invoices periodically or collect payment via agreed direct debit arrangements. Unless otherwise agreed, payment is due immediately upon receipt of the invoice. Our fees are exclusive of VAT, which will be added where it is chargeable. Any disbursements we incur on your behalf and expenses incurred in the course of carrying out our work for you will be added to our invoices where appropriate. 
Unless otherwise agreed to the contrary, our fees do not include the costs of any third party, counsel or other professional fees. 
Where this contract exists between us and a purchaser acting in the course of a business, we reserve the right to charge interest on late-paid invoices at the rate of 8% above the Bank of England 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 on giving written notice if payment of any fees is unduly delayed. We intend to exercise these rights only where it is fair and reasonable to do so. 
If you do not accept that an invoiced fee is fair and reasonable you must notify us within 21 days of receipt, failing which you will be deemed to have accepted that payment is due. 
On termination of the engagement, you may appoint a new adviser. Where a new adviser requests professional clearance and handover information, we reserve the right to charge you a reasonable fee for the provision of handover information.
12. Implementation
We will only assist with implementation of our advice if specifically instructed and agreed in writing.
13. Intellectual property rights
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.
14. Interpretation 
If any provision of this engagement letter, schedules of services or standard terms and conditions is held to be void, then that provision will be deemed not to form part of this contract, and the remainder of this agreement shall be interpreted as if such provision had never been inserted.
In the event of any conflict between these standard terms and conditions and the engagement letter or schedules of services, the relevant provision in the engagement letter or schedules will take precedence.
15. Internal disputes within a client
If we become aware of a dispute between the parties who own or are in some way involved in the ownership and management of a business client, it should be noted that where our client is the business, 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 registered office for the attention of the directors. If conflicting advice, information or instructions are received from different directors/principals in the business, we will refer the matter back to the board of directors/the partnership/the LLP and take no further action until the board/partnership/LLP has agreed the action to be taken.
16. Investment advice (including insurance mediation services)
Investment business is regulated under the Financial Services and Markets Act 2000.
If, during the provision of professional services to you, you require advice on investments, including insurance products, we may need to refer you to someone who is authorised by the Financial Conduct Authority (FCA), as we are not authorised to provide such advice.
However, Tervel Mihaylov is licensed and regulated by the Association of Accounting Technicians (AAT) under licence number 1009263, which permits us to provide certain investment-related services that are incidental to, or arise out of, the professional services we provide to you. These services are limited to those allowed under the AAT’s licensing arrangements and do not include regulated investment advice.
17. Lien
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 liability
We will provide our services with reasonable care and skill. Our liability to you is limited to losses, damages, costs and expenses directly caused by our negligence, fraud or wilful default. We will not be liable for losses caused by others, circumstances beyond our control, or non-disclosure/misrepresentation of material information. You agree to indemnify us against any claim arising from unauthorised disclosure of our advice. Where an aggregate liability limit is specified in the engagement letter, that sum shall be the maximum aggregate liability of TTAM Ltd, its directors, agents and 

19. Limitation of third-party rights
The advice and information we provide to you as part of our service is for your sole use and not for any third party unless expressly agreed in writing. We accept no responsibility to third parties for any advice, information or material produced as part of our work for you that you make available to them. No rights or benefits are conferred on any third party under the Contracts (Rights of Third Parties) Act 1999.
20. Period of engagement and termination
Unless otherwise agreed in the engagement letter our work will begin when we receive your implicit or explicit acceptance of that letter, except as stated in that letter we will not be responsible for periods before that date. 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. In the event of termination of this contract, we will endeavour to agree with you the 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. If you engage us for a one-off piece of work (for example advice on a one-off transaction or preparation of a tax return for one year only) the engagement ceases as soon as that work is completed. The date of completion of the work is taken to be the termination date, and we owe you no duties and we will not undertake further work beyond that date. Where recurring work is provided (for example ongoing compliance work such as the completion of annual tax returns) the engagement ceases on the relevant date in relation to the termination as set out above. Unless immediate termination applies, in practice this means that the relevant termination date is: 
• 21 days after the date of notice of termination; or 
• A later agreed date. We owe you no duties beyond the date of termination and will not undertake any further work.
21. Professional body rules 
We will observe and act in accordance with the byelaws, regulations and ethical guidelines of the Association of Accounting Technicians (AAT) and will accept instructions to act for you on this basis. 
You are responsible for bringing to our attention any errors, omissions or inaccuracies in your returns that you become aware of after the returns have been submitted in order that we may assist you to make a voluntary disclosure. In particular, you give us the authority to correct errors made by HMRC where we become aware of them. In addition, we will not undertake tax planning which breaches Professional Conduct in Relation to Taxation. 
We will therefore comply with the general anti-abuse rule and the targeted anti-avoidance rule. 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 at our offices. The requirements are also available online at www.aat.org.uk. 
The implications of professional body membership as it relates to GDPR are set out in the privacy notice, which should be read alongside these standard terms and conditions of business.
22. Reliance on advice
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. However, bear in mind that advice is only valid at the date it is given.
23. Retention of papers
You have a legal responsibility to retain documents and records relevant to your tax affairs. During the course of our work, we may collect information from you and others relevant to your tax affairs. We will return any original documents to you nd others relevant to your tax affairs.
When we cease to act for you, we will seek to agree the position on access to cloud-accounting records to ensure continuity of service. This may require you to enter direct engagements with the software providers and pay for that service separately. Documents and records relevant to your tax affairs are required by law to be retained as follows:
Individuals, trustees and partnerships
•	with trading or rental income: five years and 10 months after the end of the tax year.
•	otherwise: 22 months after the end of the tax year.

Companies, LLPs and other corporate entities
six years from the end of the accounting period.
While certain documents may legally belong to you, we may destroy correspondence and other papers that we store, electronically or otherwise, which are more than seven years old. This includes your documents if they have not been reclaimed by you within the seven-year period. You must tell us if you require the return of any specific document or their retention for a longer period. 
You should retain documents that are sent to you by us as set out in the privacy notice, which should be read alongside these terms and conditions.
24. The Provision of Services Regulations 2009 (‘Services Directive’)
In accordance with our professional body rules, we are required to hold professional indemnity insurance. Details about the insurer and coverage can be found at our offices or by request from us. 
25. Your Responsibility for the Preparation of Accounts
You agree to provide us with complete, accurate, and timely accounting records and all relevant financial information necessary for the preparation of your accounts. You must make full disclosure of all matters that may affect the accounts. The accounts must be reviewed and approved by you before we issue our report. You are responsible for ensuring that financial information is reliable, that the business operates honestly, and that appropriate arrangements are in place to safeguard assets and prevent fraud. You are also responsible for ensuring compliance with all applicable laws and regulations, and for implementing systems to prevent and detect non-compliance.
26. Our Responsibilities for the Preparation of Accounts
We will compile your annual accounts based on the records and information you provide. We will advise you on the adequacy of your records and recommend improvements where necessary. We will exercise reasonable skill and care in preparing your accounts but cannot accept responsibility for errors arising from incomplete or inaccurate information supplied by you. Our report will state that the accounts have been compiled from information provided by you without audit or independent verification. We have a professional duty to ensure that the accounts comply with generally accepted accounting principles. Where this is not the case, or where accounting policies are unclear, we will highlight this in our report.
27. Fair Use Policy
TTAM Ltd is committed to delivering a high standard of service to all clients. To ensure fairness, we operate a Fair Use Policy. While we welcome reasonable communication to clarify matters, excessive or repeated requests for advice outside the agreed scope of work may impact our ability to serve other clients effectively. In such cases, we will discuss the situation with you and may suggest adjustments to your service level or apply additional charges where appropriate. Our aim is to maintain efficiency and fairness for all clients.