Terms of engagement

1 · Who we are

Finox Limited is a company registered in England and Wales (company number 17084281). Registered office: Office 17847, 182–184 High Street North, East Ham, London E6 2JA. Trading as “Finox”.

Contact: info@finox.co.uk · finox.co.uk

2 · What we do — and don’t

Finox provides bookkeeping, accounts preparation, tax compliance, VAT, PAYE, management accounts, financial modelling, fractional CFO services and operational finance support to UK-registered businesses.

We do not provide:

Statutory audit — where audit is required (turnover > £10.2m, balance sheet > £5.1m, employees > 50, or as required by shareholders / regulator), we will refer you to an independent audit firm.
Regulated financial advice under FSMA 2000. We do not advise on investments, pensions, mortgages or insurance products. For those, use an FCA-authorised adviser.
Legal advice. Term sheets, articles, share schemes, employment contracts — instruct a solicitor.
Custom software or AI builds. Handled by our sister company oranzai.com under a separate engagement.

3 · The engagement letter

Every engagement begins with a written engagement letter issued by Finox. It sets out, for that specific client:

The services in scope and their deliverables.
The fee, billing cadence and payment terms.
The named account lead and back-up.
Any specific dependencies on you (e.g. access to Xero, receipts submitted by the 5th of the month).
The minimum engagement term (typically 3 months) and notice period (30 days).

These terms of engagement are incorporated by reference into that letter. Where the engagement letter and these terms conflict, the engagement letter prevails.

4 · Your responsibilities as a client

For us to deliver good work you agree to:

Provide accurate, complete and timely information — including access to your accounting records, bank feeds, receipts and any explanations we reasonably ask for.
Complete our Client Due Diligence (see §7) before we begin work.
Approve statutory filings, tax returns and other regulated submissions before we file them on your behalf.
Pay our invoices in accordance with the engagement letter.
Notify us promptly of material changes to your business (new entity, new director, new VAT scheme, change of registered office, etc.).

The accuracy of any output we produce depends on the accuracy of what you give us. We’ll flag things that look wrong; we don’t independently verify every underlying transaction unless the engagement expressly includes assurance work.

5 · Fees, invoicing & payment

Fixed monthly fees for retainer clients (Essentials, Foundations, Growth, Scale). Fees are charged monthly in advance and cover the services listed in your engagement letter.
Fixed-scope projects (e.g. investor model build, R&D claim, DD sprint) are billed 50% on start, 50% on delivery.
Ad-hoc / à la carte work is billed against a written estimate agreed in advance. If a piece of work exceeds the estimate, we will pause and re-quote before continuing.
All fees are quoted ex-VAT. VAT is added at the prevailing UK rate where applicable.
Invoices are due within 14 days unless otherwise stated. Overdue invoices may attract statutory interest under the Late Payment of Commercial Debts (Interest) Act 1998.
We reserve the right to suspend work if invoices remain overdue by more than 30 days. We will always warn you in writing before doing so.

Where your business changes shape materially — new entity, VAT registration, additional payroll, active fundraise — we will discuss and re-quote the retainer with you before applying any change.

6 · Confidentiality

All information you give us is treated as confidential. We will not disclose it to any third party except:

Where you specifically authorise us to do so (e.g. to your investors, lawyers, previous accountants).
Where we are required to by law (e.g. HMRC information notices, court orders, Suspicious Activity Reports under the Proceeds of Crime Act 2002).
Where required by our AML supervisor as part of routine oversight.
To our named subprocessors listed in the Privacy Notice for the specific purposes there described.

The obligation of confidentiality survives termination of the engagement.

7 · Anti-Money Laundering (AML) & Client Due Diligence

Finox Limited is subject to the UK Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (as amended). Accordingly, before we accept any engagement we are required to:

Verify the identity of each client (and, where the client is a company, its beneficial owners with > 25% ownership or control).
Understand the nature and intended purpose of the business relationship.
Screen against relevant sanctions lists.
Assess the money-laundering risk of the engagement.

You agree to provide, on request, the identity and address evidence we reasonably require to complete this due diligence. We may re-run these checks periodically during the life of the engagement.

If, at any time, we form a suspicion that any activity may involve money laundering or terrorist financing, we are legally obliged to report it to the National Crime Agency, and we may be prohibited by law from telling you that we have done so (“tipping-off”).

Finox Limited is currently registering with HMRC as an Accountancy Service Provider for AML supervision. Registration details will be published on this page once complete. Until then, engagements are accepted only on a limited-scope basis.

8 · Data protection

We are the “controller” of personal data you provide about you and your employees, contractors and business contacts, and a “processor” for personal data that reaches us through your bookkeeping. Our full data-protection posture is set out in the Privacy Notice, including:

What we collect and why.
Our named subprocessors (Xero, Dext, Fathom, Float, Microsoft 365, etc.).
UK / EEA data residency where practical.
Retention periods aligned with the Companies Act 2006 (6 years) and HMRC record-keeping rules (5–6 years).
Your rights under UK GDPR: access, rectification, erasure (where applicable), portability, restriction, and objection.
How to raise a data-protection complaint (to us, and to the ICO).

We do not train third-party AI models on your data. Where we use AI internally (for first-pass draft commentary, categorisation suggestions, anomaly flagging), it is used with named tools under contract, on a no-training basis, and always with a qualified human in the loop before any output leaves the firm.

9 · Intellectual property & working papers

Any spreadsheets, models, templates and reports we produce for you as deliverables under the engagement letter belong to you on payment of the associated fees.
Our internal working papers, checklists and methodology remain the property of Finox.
Where we use pre-existing Finox templates (e.g. board pack templates, investor model chassis) as the starting point for your bespoke deliverable, you receive a perpetual, royalty-free licence to use the completed deliverable for your own business.
Data belongs to you. On termination we return your records in a portable format (typically Xero, Sheets or CSV) within 30 days of the final invoice being settled.

10 · Limitation of liability

To the maximum extent permitted by law:

Our total liability to you in connection with the engagement is capped at 3× the fees paid to us in the 12 months immediately preceding the event giving rise to the claim.
We are not liable for indirect or consequential loss, loss of profit, loss of business or loss of goodwill, however caused.
Nothing in these terms excludes liability for death or personal injury caused by our negligence, or for fraud or fraudulent misrepresentation.

We maintain professional indemnity insurance appropriate to the nature and scale of the services we provide. Certificate details are available on request.

11 · Termination

Either party may terminate the engagement by giving 30 days’ written notice, subject to the initial minimum term in the engagement letter (typically 3 months).
Either party may terminate immediately on written notice if the other commits a material breach that is not remedied within 14 days, or becomes insolvent.
We may terminate immediately if we form a suspicion that an engagement would put us in breach of AML, sanctions or professional conduct obligations.
On termination you remain liable for fees for work performed up to the effective termination date, plus any reasonable costs of orderly handover to a successor firm.

12 · Complaints

If you’re unhappy with any aspect of our service, please tell us. Our full Complaints Procedure sets out how, and what to expect. In summary: raise it first with your account lead; if that doesn’t resolve it, escalate in writing to the Managing Director. We aim to acknowledge within 5 working days and give a substantive response within 30.

13 · Governing law & jurisdiction

These terms and any engagement letter with Finox Limited are governed by the laws of England and Wales. The courts of England and Wales have exclusive jurisdiction over any dispute or claim.

14 · Changes to these terms

We may update these terms from time to time. The version in force at the date of your most recent engagement letter (or a superseding letter you counter-sign) is the one that applies to your engagement. Any material change will be notified to you in writing at least 30 days before it takes effect.

Nothing on this page constitutes tax, legal or financial advice. It sets out the terms under which we engage. Advice under the engagement is delivered in writing under the engagement letter and follow-up correspondence.

Terms of engagement.