The following comprise the standard terms and conditions governing the relationships between (1) Foreign Tax Returns Limited (the “Agent”) and (2) the person(s) or entity to which the Agent provides or is to provide services (the “Client”).
The Client gives the undertakings and indemnities set out herein in consideration for the Agent agreeing to provide the Services to the Client. The expressions “Relevant Tax Authorities” “Relevant Tax” and “Relevant Law” means the Revenue Authorities, Tax and Law in the jurisdiction of the client property and is governed by the tax legislation and law of that jurisdiction.
The expression “Indemnified Persons” means the Agent and each of its employees, agents, officers and servants from time to time, together with where appropriate former employees, agents, officers and servants.
1. Personal Taxation – The Agent’s Duties
1.1 We will prepare the income tax computations based on the accounts of your business (if applicable) from the accounting records and other information and explanations provided by you.
1.2 We will prepare your personal tax return together with such supporting schedules as are appropriate and we will prepare a computation of your self-assessment liability of Relevant tax.
1.3. We will send you your tax return, tax computations and supporting schedules for you to approve and sign. We will then submit the form to the Relevant Tax Authorities on your behalf.
1.4 We will tell you how much Relevant Tax you should pay and when. If appropriate we will initiate repayment claims when Relevant Taxes have been overpaid.
1.5 We will deal with Relevant Tax Authorities regarding any amendments required to your return and prepare any amended returns which may be required.
1.6 We will advise as to possible claims and elections arising from the tax return and from information supplied by you. Where instructed by you, we will make such claims and elections in the form and manner required by Relevant Tax Authorities.The expression “Indemnified Persons” means the Agent and each of its employees, agents, officers and servants from the tax return and from information supplied by you. Where instructed by you, we will make such claims and elections in the form and manner required by Relevant Tax Authorities.
2. Duties of the Client: Provision of information by you
2.1 You are legally responsible for making correct returns by the due date and for payment of tax on time. Failure to meet the deadlines may result in automatic penalties, surcharges and/or interest.
2.2 To enable us to carry out our work you agree:
(a) that all returns are to be made on the basis of full disclosure of all sources of income, charges, allowances and capital transactions;
(b) to provide full information necessary for dealing with your affairs: we will rely on the information and documents being true, correct and complete and will not audit the information or those documents;
(c) that we can approach such third parties as may be appropriate for information that we consider necessary to deal with your affairs;
(d) to provide us with information in sufficient time for your tax return to be completed and submitted by the due date following the end of the tax year.
(e) to forward to us on receipt copies of all Relevant Tax Authorities statements of account, coding notices, notices of assessment, letters and other communications received from Relevant Tax Authorities to enable us to deal with them as may be necessary within the statutory time limits; and
(f) to keep us informed about significant changes in your circumstances if they are likely to affect your tax position
3. Indemnity and Limitation of Liability
3.1 To the extent permitted by law the Client undertakes (jointly and severally in the case of the Client being more than one person) and agrees to indemnify each Indemnified Person against all and any costs, claims, expenses, damages and liabilities whatsoever (including without limitation legal costs and expenses) that may be incurred or suffered by any Indemnified Person however arising (other than by reason of wilful negligence, fraud or dishonesty on the part of any Indemnified Person) in connection with the provision of the Services or the performance of this Agreement. The Agent accepts this indemnity for itself and as trustee for each Indemnified Person.
3.2 The Agent’s liability (together with that of any Indemnified Persons) in respect of all and any breaches of contract or breaches of duty or fault or negligence or negligent misstatement or otherwise howsoever and of whatever nature arising out of or in connection with this Agreement shall be subject to the limit stated in the Schedule, which limit shall cover claims of any kind whatsoever (including interest and costs) arising out of or in connection with this Agreement, provided that this provision shall have no application to any liability for death or personal injury arising from the negligence of the Agent or any Indemnified Person or to any liability arising as a result of fraud on the part of the Agent or any Indemnified Person. For the avoidance of doubt, the Agent’s liability shall not exceed the fees charged in performing of the service.
4. Information and confidentiality
4.1 The Agent agrees that where the Client gives it confidential information it shall use all reasonable endeavours to keep it confidential.
4.2 Without prejudice to the said duty of confidentiality, the Agent reserves the right to act for other clients (including competitors of the Client).
4.3 If Relevant law or the law of the country/ies of the Client’s fiscal residence requires disclosure of certain information to governmental or regulatory agencies, or as directed by the order of any Court, compliance shall not constitute a breach of the Agent’s duty of confidentiality. The said duty of confidentiality is subject to the Agent complying with any Court order or regulatory requirement to the contrary.
4.4 Any report, Schedule, information or advice the Agent gives to the Client during this engagement is given in confidence solely for the purpose of this engagement and is provided on condition that the Client undertakes not to disclose the same, or any other confidential information made available to the Client by the Agent without its prior written consent.
4.5 The Agent shall not in any event be required or obliged to take any action which it considers to be unlawful or improper or which may cause it or any person to incur any personal liability and the Client agrees that the Agent shall not be liable for refusing to take any such action.
5.1 The Client hereby authorises the Agent to communicate with him/her/them by unencrypted electronic mail and agrees that the Agent shall have no liability for any loss or liability incurred by the Client by reason of the use of electronic mail (whether arising from viruses or otherwise) and hereby releases the Agent from any such liability. The Agent shall not be liable for any loss or damage caused by the transmission by it of an infected email.
6. Entire Agreement
6.1 These Terms and Conditions shall constitute the entire agreement between the parties in relation to the Client and may only be varied by agreement in writing signed by or on behalf of the parties (save that the fees chargeable hereunder shall be variable).
7. Law and jurisdiction
7.1 These Terms and Conditions and the Agreement shall be governed by and construed in accordance with Relevant law and any dispute arising in respect thereof shall be subject to the jurisdiction of the Relevant Court and the Client hereby submits to the jurisdiction of the Relevant Court.
7.2 The Client acknowledges that the Agent is bound by regulatory obligations under Relevant law and agrees that any action or inaction on the part of the Agent as a result thereof shall not constitute a breach of the Agent’s duties hereunder.