Privacy policy

Privacy Policy & Terms and Conditions – NecessaryCFO

Effective Date: [29.06.25]
Business Name: NecessaryCFO
Email: Info@necessarycfo.com
Website: www.necessarycfo.com

1. Introduction

NecessaryCFO is committed to protecting your privacy and personal data. This Privacy Policy outlines how we collect, use, and protect your information in accordance with the UK GDPR, the Data Protection Act 2018, and applicable international laws such as the CCPA (California Consumer Privacy Act).

2. What Data We Collect

We may collect:

Personal Information: Name, contact details, business name, address.
Financial Information: Transaction data, payroll records, invoice details.
Device Information: IP address, browser type, cookies, time zone, usage patterns.

3. Why We Process Your Data

We process your data to:

Provide internal-use financial management and bookkeeping services.
Prepare internal reports, dashboards, and business insights.
Fulfil contracts and legal obligations, including AML supervision.
Respond to inquiries and provide support.

4. Security & Data Storage

We implement secure systems and encryption to protect your data using cloud accounting platforms (e.g., QuickBooks, Xero). We retain client records for a minimum of 5 years in compliance with HMRC and data protection rules.

5. Data Sharing

We do not sell or share your data. We only disclose information:

If required by HMRC, regulatory bodies, or legal obligations.
For AML reporting under the Proceeds of Crime Act 2002.

6. Your Rights (UK GDPR & CCPA)

You have the right to:

Access, correct, or delete your personal data.
Restrict or object to data processing.
Withdraw consent at any time.
Request data portability.

To exercise your rights, contact contact@necessarycfo.com.

7. U.S. Residents

If you are based in the United States, including California or Virginia, you may also:

Request access to your data and its use.
Request deletion.
Opt-out of data sharing (we do not sell data).
Be free from discrimination for exercising your rights.

8. External Links

Our site may link to third-party websites. We are not responsible for their privacy practices and recommend reviewing their privacy policies individually.

9. Disclaimer

All reports, insights, and tools from NecessaryCFO are intended for internal business use only. They are not tax, financial, legal, or investment advice and must not be relied on by third parties.

Terms and Conditions

1. Introduction

These Terms govern your use of NecessaryCFO's services. By using our website or services, you agree to these conditions.

2. Services We Provide

We offer:

Bookkeeping, reconciliations, payroll processing.
Internal financial reports, dashboards, budgeting & forecasting.
Business insights and process improvement.
VAT, PAYE, and Self Assessment filing as an HMRC agent (with client data)

We do not offer:

Tax planning, legal or audit advice.
Statutory accounts or external financial reporting.
Audit, assurance, or regulated accounting services.

We operate under SIC 70221 – Financial Management, not as a public practice or chartered accountant.

3. Client Responsibilities

Clients must:

Provide accurate, complete, and timely data.
Use all reports for internal use only.
Engage qualified professionals for tax, legal, or compliance matters.

4. Fees & Payments

Agreed fees are confirmed in writing.
Invoices are payable within 7 days.
Late payments may incur 2% monthly interest.

5. Confidentiality

We maintain strict client confidentiality. Information may only be disclosed:

When legally required (e.g., HMRC, AML obligations).
When reporting suspicious activity under AML law.

6. Liability Limitation

NecessaryCFO is not liable for:

Decisions based on our internal reports.
Errors due to inaccurate client records.
Reliance on internal-use reports by any third party.

7. AML & Professional Boundaries

We are:

AML supervised by HMRC.
An authorised HMRC agent for VAT, PAYE, SA submissions.
Operating under ACCA guidance (non-practising).

We are not:

Chartered Accountants.
A regulated audit, assurance, or public accountancy firm.

8. Permitted vs. Restricted Activities

✅ What NecessaryCFO Is Permitted to Do

Bookkeeping and reconciliations

We are authorised under ACCA guidance to record and reconcile financial transactions without the need for a practising certificate.

Internal reports and dashboards

We can generate management accounts, dashboards, and financial summaries for internal business use only. These must not be shared with or relied upon by third parties.

Cash flow management and budgeting

We can support cash flow forecasting, budget planning, and financial performance reviews as part of strategic internal support.

Payroll, VAT, and Self Assessment filing

As a registered HMRC Agent, we can assist with submitting VAT, PAYE, and Self Assessment returns using client-supplied data (but without offering tax advice).

❌ What NecessaryCFO Cannot Do

Tax planning or personalised tax advice

We do not offer any form of tax strategy, planning, or advisory services. These must be handled by a qualified practising accountant or tax adviser.

Statutory accounts preparation

We do not prepare or file statutory financial statements for external purposes (e.g., for Companies House, banks, or investors). This is reserved for chartered accountants under public practice.

Audit or assurance work

We are not licensed to conduct audits or offer any services that involve verifying or assuring the accuracy of financial records for regulatory or external reporting purposes.

9. Final Notes

All services are delivered under NecessaryCFO, a professional financial support provider.
We are not Chartered Accountants, and we do not offer public accountancy or external financial reporting.
Reports are for educational and internal decision-making only.
Clients must not rely on our outputs for external or regulated purposes.

For any privacy or legal inquiries, contact:
Email: Info@necessarycfo.com
Phone: (+44) 7857021198 / (+404) 666-4571
Website: www.necessarycfo.com