Terms of Engagement

Last updated: March 2026

Huw Davies, trading as Finstem Accountants.

1. About these terms

These terms govern the professional relationship between Huw Davies, trading as Finstem Accountants (“we”, “us”), and you (“the client”) when you engage our accountancy, tax compliance, financial modelling, or business valuation services. By engaging our services, you agree to these terms.

2. Engagement and commencement

Services will not commence until both parties have agreed a letter of engagement (or you have accepted our terms digitally during onboarding) and we have completed our Customer Due Diligence (CDD) obligations under the Money Laundering Regulations 2017. The letter of engagement will set out the specific scope, fees, and timelines for the services to be provided.

3. Our obligations

• Deliver services with reasonable skill and care, in accordance with applicable professional standards and our Code of Professional Ethics
• Maintain professional indemnity insurance appropriate to the services provided
• Keep your information confidential and secure
• Comply with all relevant UK legislation, including anti-money laundering regulations
• Respond to communications within 12 hours
• Provide clear, fixed pricing with no hidden charges
• Disclose any potential conflicts of interest and, where necessary, decline the engagement

4. Your obligations

• Provide accurate and complete information in a timely manner
• Respond to our requests for information within a reasonable timeframe
• Notify us promptly of any changes that may affect the services
• Pay invoices within 14 days of the invoice date
• Comply with your own legal and regulatory obligations
• Authorise us to act as your agent with HMRC and other statutory bodies as required to deliver the agreed services (e.g. filing tax returns, responding to HMRC enquiries)

5. Fees and payment

• Essentials: £120/mo — invoiced on the 1st of each month, payable by direct debit or bank transfer
• Analytics: £290/mo — invoiced on the 1st of each month
• Pinnacle: £660/mo — invoiced on the 1st of each month
• Business valuation: £500 fixed project fee, 50% payable upfront and 50% on delivery

All fees are quoted inclusive. Finstem is not currently VAT registered. The only additional cost would be your third-party software subscription (e.g. Xero, Sage, or FreeAgent), which is billed directly by the software provider. For full plan details, see our pricing page.

6. Minimum term and renewal

• All monthly service plans (Essentials, Analytics, Pinnacle) carry a 12-month minimum commitment from the date of engagement
• Early cancellation within the minimum term remains liable for all outstanding fees due for the remainder of the 12-month period
• Plans automatically renew at the end of each 12-month period. We will send a renewal reminder at least 30 days before the anniversary
• Business valuation projects are not subject to a minimum term as they are billed on a fixed-project basis

7. Scope of services

The specific scope of work will be agreed in writing before we begin (see section 2). Any work outside the agreed scope will be discussed and quoted separately before we proceed.

8. Limitations

We provide tax compliance and planning advice within the scope of accountancy services. We do not provide legal or investment advice. For specialist matters outside the scope of accountancy, we will recommend appropriate professionals.

9. Client money

We do not hold client money. All payments to HMRC, Companies House, or other bodies are made directly by you or on your behalf using your own payment methods. We will never request your bank or payment card details.

10. Confidentiality

All information you share with us is treated as strictly confidential. We will not disclose your information to third parties except where required by law, regulation, or with your explicit consent.

11. Electronic communications

As a remote-first practice, we deliver our services primarily via email, video call, and cloud-based platforms. By engaging our services, you consent to communication via these channels and acknowledge the inherent risks of electronic communication, including (but not limited to) interception or misdirection. We take reasonable steps to secure all communications, including encrypted channels where available.

12. Intellectual property

• All working papers, internal notes, and proprietary methodologies remain the property of Finstem Accountants
• All deliverables (reports, financial models, dashboards, tax returns) become your property upon payment of the relevant fees in full

13. Third-party reliance

Our reports and deliverables are prepared solely for your use and for the purposes set out in the letter of engagement. They may not be relied upon by third parties (including banks, investors, or other advisers) without our prior written consent. We accept no liability to any third party who relies on our work without such consent.

14. Anti-money laundering

As a licensed practice, we are subject to the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017. We are required to verify your identity before providing services and to report any suspicious activity to the National Crime Agency. We are prohibited by law from informing you if such a report is made (the “tipping off” offence under section 333A of the Proceeds of Crime Act 2002).

15. Conflicts of interest

In accordance with our Code of Professional Ethics, we will identify and evaluate any potential conflicts of interest before accepting an engagement. Where a conflict exists or arises during an engagement, we will disclose this to you and, where necessary, decline or withdraw from the engagement.

16. Termination and cancellation

• All monthly service plans are subject to the minimum term set out in section 6
• After the minimum term, either party may terminate the engagement by giving 30 days’ written notice
• Cancellation requires 30 days’ written notice before the renewal date
• On termination, all outstanding fees become immediately payable
• We will return all client documents and provide reasonable assistance with handover to a new accountant

17. Force majeure

Neither party shall be liable for any delay or failure to perform obligations under these terms where such delay or failure results from circumstances beyond reasonable control, including (but not limited to) natural disaster, pandemic, government action, failure of third-party systems (e.g. HMRC, Xero, banking platforms), power failure, or internet outage. The affected party will notify the other as soon as reasonably practicable and resume performance when the circumstances have ceased.

18. Liability

Our liability for any claim arising out of or in connection with our services is limited to the total fees paid by you for the specific service giving rise to the claim. Any claim must be brought within 12 months of the date on which you became aware (or ought reasonably to have become aware) of the circumstances giving rise to the claim. We maintain professional indemnity insurance to protect against claims arising from our professional services.

19. Complaints

If you are dissatisfied with our services:

• Contact us at info@finstem.co.uk setting out your concerns
• We will acknowledge your complaint within 2 business days
• We will investigate and provide a written response within 10 business days
• If the matter remains unresolved, it will be reviewed by the firm’s principal (Huw Davies)
• If you remain dissatisfied, you may refer the complaint to the AAT at aat.org.uk or by writing to: Association of Accounting Technicians, 140 Aldersgate Street, London, EC1A 4HY

20. Governing law

These terms are governed by the laws of England and Wales. The courts of England and Wales shall have exclusive jurisdiction over any disputes arising from or in connection with these terms.