TERMS OF BUSINESS (1 January 2007)

The following terms of business apply to all engagements accepted by Marine Tax Café Limited.  All work is carried out under these terms except where changes are expressly agreed in writing.

1.0       Retention of records

1.1       During our work we will collect information from you and others acting on your behalf and will return any original documents to you following preparation of your returns.  You should retain them for 6 years from the 31 January following the end of the accounting year. 

1.2       Whilst certain documents may legally belong to you, unless you tell us not to, we intend to destroy correspondence and other papers that are more than seven years old, except documents we think may be of continuing significance.  You must tell us if you wish us to keep any document for any longer period.

2.0       Conflicts of interest and independence

2.1       We reserve the right during our engagement with you to deliver services to other clients whose interests might compete with yours or are or may be adverse to yours, subject to 3 below.  We confirm that we will notify you immediately should we become aware of any conflict of interest involving us and affecting you or the partnership.

3.0       Confidentiality

3.1       We confirm that where you give us confidential information we shall at all times keep it confidential, except as required by law or as provided for in regulatory, ethical or other professional statements relevant to our engagement.

4.0       Data Protection Act 1998

4.1       To enable us to discharge the services agreed under our engagement, 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/ the LLP/ its officers and employees.  We confirm when processing data on your behalf we will comply with the relevant provisions of the Data Protection Act 1998.

5.0       Proceeds of Crime Act 2002 and Money Laundering Regulations 2003

5.1       In common with all accountancy and legal practices the firm is required by the Proceeds of Crime Act 2002 and the Money Laundering Regulations 2003 to:

• have identification procedures for all new clients;

• maintain records of identification evidence; and

• report in accordance with the relevant legislation and regulations.

6.0       Help us give you the best service

6.1       We wish to provide a high quality of service at all times.  If at any time you would like to discuss with us how we could improve our service, or if you are dissatisfied with the service you are receiving please let us know by contacting Peter Quinn.

6.2       We will look into any complaint carefully and promptly and do all we can to explain the position to you.  If we have given you a less than satisfactory service we undertake to do everything reasonable to put it right.  If you are still not satisfied you may of course refer the matter to our Institute.

7.0       Contracts (Rights of Third Parties) Act 1999

7.1       Only someone who is a party to this agreement has the right under the Contracts (Rights of Third Parties) Act 1999 to enforce any of its terms.  This clause does not affect any right or remedy that exists independently of the Act.

7.2       The advice we give you is for your sole use and is confidential to you and will not constitute advice for any third party to whom you may communicate it.  We will accept no responsibility to third parties for any aspect of our professional services or work that is made available to them.

8.0       Fees

8.1       Invoices are due for payment when issued.

8.2       If we need to do work outside the responsibilities outlined in our engagement letter, we will advise you in advance.  This will involve additional fees.

8.3       We reserve the right to charge interest on overdue accounts at the current rate under the Late Payment of Commercial Debts (Interest) Act 1998.  We also reserve the right to terminate our engagement and cease acting if payment of any fees billed is unduly delayed.

9.0       Applicable law

9.1       Our engagement with you is governed by, and interpreted in accordance with, English law.  The Courts of England shall have exclusive jurisdiction in relation to any claim, dispute or difference concerning our engagement letter and terms of business and any matter arising from or under them.  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 inconvenient forum, or to claim that those courts do not have jurisdiction.