Privacy Policy

PRIVACY NOTICE

This Privacy Notice tells you what to expect in relation to personal data about you which is collected, handled and processed by Tearle & Carver Limited.

Tearle & Carver Limited of Chandos House/School Lane, Buckingham MK18 1HD is the Data Processor.

We acknowledge and agree that any personal data of yours that we handle will be processed in accordance with all applicable data protection laws in force at the time.  Currently, the Data Protection Act 1998 applies.  With effect from 25 May 2018, the General Data Protection Regulations (“GDPR”) will come into force, which will change the law. 

A. Personal Data collected and processed for clients, suppliers and business contacts:

  • Your name
  • Your address
  • Your email address
  • Your telephone number
  • Salary and benefits
  • Passport or alternative proof of identification
  • In some cases, permits and visas
  • Date Of Birth
  • National Insurance number and Unique Taxpayer Reference
  • Financial information (including but not limited to payroll details and terms, HMRC data, pension scheme details, court orders and statutory payments)
  • Company Name
  • Company address
  • Your company email address
  • Your company telephone number
  • Company related social media

B. Personal Data in respect to individuals who are prospective, current or previous employees is as follows:

  • Your name
  • Your address
  • Your email address
  • Your telephone number
  • CV/employment history
  • Salary and benefits
  • Any other work related information you provide, for example, education or training certificates
  • Social media profiles
  • Passport or alternative proof of identification
  • In some cases, permits and visas
  • Date Of Birth
  • National insurance number
  • Full details of job offers and placement
  • Outcome of criminal record checks and security clearance for certain roles
  • In certain cases, medical information
  • References
  • Financial information (including but not limited to payroll details and terms, HMRC data, pension scheme details, court orders and statutory payments)
  • A log of our communications with you by email and telephone

In the case of categories A and B personal data may have been provided by you, in the case of category A it may have been provided by you or your company, in the case of category B it may have been provided by a third party such as a recruitment agency or internal referral.  In the case of reference requests, these will be obtained from your previous employer and with your consent. Medical information may be supplied by a third party such as your GP, Consultant or Occupational Health Advisor.  The outcome of criminal record checks and security clearance checks, where relevant, will be supplied by the Disclosure and Barring Service or other external company applicable to the placement.

How we use the information

The above personal data will be used to either provide our services to you in our capacity as an accountancy and business advisory firm or in the capacity of a current or prospective employer.

The Personal Data listed under A above may be used as follows:

  • To provide you with information on our services and business offerings
  • To deliver and/or receive services in accordance with contracts and agreements
  • To manage on-going intercompany relationships
  • To maintain data necessary to establish legal responsibility

The Personal Data listed under B above may be used as follows:

  • To establish that you have the right to work
  • To undertake relevant security and criminal record checks as required as permitted by law
  • To deal with any medical and health and safety issues relating to certain positions
  • To put in place contractual arrangements and documentation once a role has been secured
  • To pay you

 How we hold the information

All the personal data we have is securely stored on local and cloud based finance systems and programmes that are fully compliant with GDPR provisions.

Disclosure of your information

If you are a client or an employee of a client we may share your data with government organisations and third party service providers acting on our behalf, such as data storage, archiving and destruction companies.

If you are a prospective, current or previous employee of Tearle & Carver Limited we may share your personal data with partner organisations such as reference checking agencies, research companies or consulting assessment providers for the purposes of assessing and confirming your suitability for a role.

Personal data shall not be transferred to a country or territory outside the EEA unless that country or territory ensures an adequate level of protection or the appropriate safeguards are in place for your rights and freedoms.  Before such a transfer takes place outside of the EEA, we will provide you with further information concerning this.

Other trusted third parties that we may share your data with are as follows: HM Revenue and Customs, pension scheme providers, legal advisors and other companies for the purpose of undertaking pre engagement checks for the role or for paying you.

What is the legal basis for processing the information?

We record and maintain information and personal data in sections A and B above on the legal basis of fulfilling contractual obligations.

Information and documentation to establish an individual’s right to work is processed by us where we are legally obliged to do so.

In respect to an individual’s medical information, the basis for us processing this will depend on the circumstances, but will usually be for one of the following reasons: it is necessary to protect health and safety or to prevent discrimination on the grounds of disability or where consent has been obtained, if required.

Information in relation to criminal record checks, which are relevant for some roles, will be processed on the basis that it is necessary for us to comply with the law or consent will be obtained, if required.

Where employment has been offered to an individual, we will process their personal data, including financial information, for the purpose of their entering into a contract to fulfil the offered role and to enable them to be paid, depending on the specific contractual arrangements and circumstances.

For the purposes of paying salary, where relevant, we are legally obliged to provide information to HMRC.

Your Rights and Requests

All individuals who are the subject of personal data held by Tearle & Carver Limited are entitled to:

  • request a copy of their personal data which we hold about you
  • request that we correct and update any personal data if it is found to be inaccurate or out of date
  • request that their personal data be erased where it is no longer necessary for us to retain such data
  • request that we provide them with their personal data and where possible, to transfer that data directly to another data controller
  • request that a restriction be placed on further processing where there is a dispute in relation to the accuracy or processing of their personal data
  • object to the processing of personal data
  • lodge a complaint with the Information Commissioner’s Office

You can access the personal data that we hold about you and how we process it by submitting a Subject Access Request (SAR) to Tearle & Carver Limited at info@tearlecarver.co.uk. This request must be in writing and clearly specify the information you require. 

Retention of your data

We will keep personal data for a maximum of 12 months from the completion of a project or from the last point of contact, unless we have a legitimate reason for keeping it, for example, any legal requirement to keep the data for a set time period. In the event of a legal requirement to retain personal data we would for a maximum period of 7 years.

Security

We are committed to ensuring that your information is secure. In order to prevent unauthorised access or disclosure, we have put in place suitable physical, electronic and managerial procedures to safeguard and secure the information we collect online.

How we use cookies

A cookie is a small file which asks permission to be placed on your computer’s hard drive. Once you agree, the file is added and the cookie helps analyse web traffic or lets you know when you visit a particular site. Cookies allow web applications to respond to you as an individual. The web application can tailor its operations to your needs, likes and dislikes by gathering and remembering information about your preferences.

We use traffic log cookies to identify which pages are being used. This helps us analyse data about web page traffic and improve our website in order to tailor it to customer needs. We only use this information for statistical analysis purposes and then the data is removed from the system.

Overall, cookies help us provide you with a better website, by enabling us to monitor which pages you find useful and which you do not. A cookie in no way gives us access to your computer or any information about you, other than the data you choose to share with us.

You can choose to accept or decline cookies. Most web browsers automatically accept cookies, but you can usually modify your browser setting to decline cookies if you prefer. This may prevent you from taking full advantage of the website.

Links to other websites

Our website may contain links to other websites of interest. However, once you have used these links to leave our site, you should note that we do not have any control over that other website. Therefore, we cannot be responsible for the protection and privacy of any information which you provide whilst visiting such sites and such sites are not governed by this privacy statement. You should exercise caution and look at the privacy statement applicable to the website in question.

Contact

Please address any questions, comments and requests regarding our data processing practices to Michelle Morton at Michelle@tearlecarver.co.uk.

Changes to the Privacy Notice

This Privacy Notice may be changed by us at any time.  This Privacy Notice will be updated in due course to comply with the further requirements under the GDPR which comes into force on 25 May 2018.

Unsubscribing from the Tearle & Carver Limited newsletter mailing list

You may unsubscribe from the Tearle & Carver Limited mailing list at any time by clicking the unsubscribe link which can be found at the bottom of all emails.

Information Commissioner’s Office

The Information Commissioner is the UK’s independent body set up to uphold information rights. If you would like to know more about your rights under the Data Protection law, and what you should expect from us, visit the Information Commissioner’s website.

If you have any concerns regarding our privacy practices or about exercising your Data Protection rights, you may contact the Information Commissioner’s Office –

Information Commissioner’s Office

Wycliffe House
Water Lane
Wilmslow
Cheshire
SK9 5AF

Tel: 0303 123 1113 or 01625 545 745

Email: casework@ico.org.uk



Case Studies

The Tax Man

Minimise the stress of an investigation and make use of our extensive experience in securing best outcome for our clients

Business Valuation in Distress

Take advantage of our impartial and rigorous due diligence procedures

FD in The Cupboard

Our innovative ideas are here to improve your business performance and secure appropriate and cost effective funding

The Tax Man

The Tax Man

A new client was introduced to us via a recommendation with whom we arranged to meet on a regular basis in order to determine a number of changes that we felt were needed to their business structure. The client was at the time operating as a husband and wife partnership. The business was flourishing and had a number of large contracts with big organisations.

At the start of the process they were still heavily immersed in their day to day operations so we can get a full flavour for their ambitions, aspirations and growth plans. We quickly recognised there were sufficient tax savings which can be achieved by changing the structure from a partnership to a corporate entity. We carried out a business valuation and disposed of the goodwill from the old to the new business. Unfortunately, as often is the case with efficient tax planning, HMRC got involved and disputed our valuation.

An HMRC investigation can be a very stressful time for any client, even for those best prepared. However, our client had minimal input in the HMRC communication as we dealt with this professionally behind the scene. As an added benefit, our client could rest on the security that all work was covered by insurance and therefore all costs and time in dealing with this enquiry were covered by the fee protection policy we had put in place.

The initial approach taken by HMRC was very aggressive and they tried to present an argument that there was no goodwill in the business. We challenged HMRC’s view that the goodwill was worthless. After lengthy correspondence and numerous telephone calls, HMRC agreed 100% with our original valuation, which preserved our original tax saving plan for the client. Tax savings on this case where in the region of £75K at the outset, with ongoing savings of £6,000 per annum. We are pleased to add another happy client to our portfolio.

Business Valuation in Distress

Business Valuation in Distress

Selling a business is never an easy process, but when disputes arise, the need for a reliable third party due diligence process is even greater.

Tearle & Carver have extensive understanding of the requirements for remaining objective when managing a potentially difficult company buyout. In one such case, we were approached by the courts to act as independent accountant for an acrimonious business sale in which one partner was exiting the business and selling shares to the other. Given the circumstances, both sides had totally polar views of what their business was worth.

After arranging an initial meeting with the company, we were thorough in ensuring we completed due diligence, validating the figures in the accounting records, carrying out adjustments where appropriate, and drafting a set of reliable management figures within the framework required by the court.

A draft version of the report detailing our findings and conclusions was submitted to both parties, giving them the opportunity to voice any queries or concerns and ensure all relevant factors had been taken into account.

Through this process, we were able to submit a final report to the courts that was both binding and acceptable to both parties, effectively resolving what could otherwise have been a time consuming and costly process for all sides.

FD in The Cupboard

FD in The Cupboard

For smaller companies, it is often not possible or cost effective to pay for a full-time Financial Director.
Many of our clients therefore make use of Tearle & Carver’s extensive expertise to provide the services of an FD as and when required.

In this case, we were approached by the management team of an organisation looking to acquire the existing business via an MBO (Management buy out). Their business plan had proved ineffective for securing funding, and what they needed was financial expertise from someone with a developed understanding of the company’s internal workings.

Tearle & Carver helped deliver the solution our clients were looking through utilising our bank contacts in order to make the MBO viable, while also building a robust business plan and preparing our client for the rigorous vetting process. To help with cash flow issues, we introduced factoring which led to improved cash flow management.

We advised on the appropriate business valuation and structure, and continued to prepare monthly accounts to track profgress once the management were fully in command of all the information they needed to move their business forward.

In order to best assist these clients through the crucial first year of ownership, we attended board meetings on a regular basis, a service that we continue to provide to date.

With our continually developing understanding of their business, this client is able to remain confident that Tearle & Carver can provide any financial support they may need, now and in the future.