Melot Accounting Limited – Terms and Conditions of Business

Updated January 2016

 

In accordance with the recommendations of the professional body Melot Accounting Limited (the company) is licensed to practice by: the Association of Accounting Technicians, these terms and conditions confirm the basis on which the company provides services to clients, so as to avoid any misunderstandings of our respective responsibilities.

 

Anti money laundering legislation

All accountants must comply with onerous duties imposed by the Proceeds of Crime Act 2002, the Terrorism Act 2000 and the Money Laundering Regulations 2007 (the “Anti Money Laundering Legislation”), which are intended to inhibit the activities of terrorists and other criminals by denying them access to technical expertise. If the company fails to perform these duties, we risk imprisonment.

Before the company accepts your instructions, we may need to obtain ‘satisfactory evidence’ to confirm your identity. In certain circumstances, we may need to obtain evidence confirming the identities of third parties, the source of any funds or other property, the purpose of any instructions or any other matter. We may also need to obtain such evidence after we have begun to act on your instructions.

We assume that our clients are honest and law abiding. However, if at any time, there appear to be grounds to suspect (even if we do not actually suspect) that your instructions relate to ‘criminal property’, we are obliged to make a report to the Serious Organised Crime Agency (“SOCA”), but we are prohibited from telling you that we have done so.

In such circumstances, we must not act on your instructions without consent from SOCA. If SOCA do not refuse consent within 7 working days we may continue to act. If SOCA issue a refusal within that time, we must not act for a further 31 days from the date of the refusal.

‘Criminal property’ is property in any legal form, whether money, real property, rights or any benefit derived from criminal activity. It does not matter who carried out the criminal activity or how removed the property is from the original crime. 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.

Activity is considered ‘criminal’ if it is a crime under UK law, no matter how trivial For example, tax evasion is a criminal offence but an honest mistake is not. We will assume that all discrepancies are mistakes unless there is contrary evidence.

 

Client monies

Melot Accounting Limited does not hold any monies on behalf of clients.

 

Non payment of fees

In the event of non-payment of fees for services rendered, the company may exercise a particular right of lien over the books and records in our possession and withhold the documents until such time as payment of invoices is received in full.

In the event that a limited company is unable to meet its liability in respect of outstanding fees owing to Melot Accounting Limited as and when they fall due then the company’s directors would be personally, jointly and severally liable in respect of the outstanding fees.

 

File destruction

Whilst certain documents may legally belong to you, unless you tell us not to, the company intends to destroy correspondence and other papers that we store which are more than seven years old, other than documents which the company thinks may be of continuing significance. If you require the retention of any document, you must notify the company of that fact in writing.

 

Ethical guidelines

We will observe the ethical guidelines of the Association of Accounting Technicians and accept instructions to act for you on the basis that we will act in accordance with those guidelines. A copy of these guidelines will be supplied to you on request.

 

Customer service

The company is committed to providing a high standard of customer service. If you have any ideas as to how the service to you could be improved, or if you are dissatisfied with the service you are receiving, please let us know. In the event that you have a complaint, we will look into this carefully and promptly and do all we can to explain the position to you or address your concerns. If you are still not satisfied you may of course make a complaint to the Association of Accounting Technicians.

 

Third parties

All accounts, statements and reports prepared by Melot Accounting Limited are for your exclusive use within your business or to meet specific statutory responsibilities. They should not be shown to any other party without our prior consent.

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

Applicable law

This engagement letter is governed by, and construed in accordance with, English law. The Courts of England 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 it may have 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.

 

Disclaimer

The company 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 or at all.

 

Agreement of terms

Once agreed, these terms will remain effective from the date of acceptance until they are replaced. Either party may vary or terminate our authority to act on your behalf at any time without penalty. Notice of termination must be given in writing.

 

Please confirm your agreement to the terms set out above by signing and returning the enclosed copy letter of engagement. If anything is unclear to you or you require any further information please let us know.