Templates and Toolkits

Practical materials to assist our members in their work.


Banking Practices Protocol

This guidance has been jointly produced with British Bankers’ Association and Law Society of England and Wales. The protocol covers the handling of current, savings, credit card and unsecured loan accounts by banks and advisors involved in estate administration. The protocol became effective on 3 October 2012.

Banking Practices Protocol (PDF 151KB)

Engagement letters for tax practitioners

We have updated our Engagement Letter guidance and templates which we jointly with CIOT, ATT, ACCA and AAT. It has been developed from English and Welsh law and established practice and procedures in the UK.

Engagement letters set out the service you will provide to your clients, what will not be provided and what has been agreed with your client. They aim to provide a clear reference document that can be used in the event of a dispute between parties or if complaints arise. STEP recommends members issue a covering letter, along with schedules that set out the nature of the service being provided and the standard terms and conditions. This guidance pack comprises:

  • Covering letter for taxation services
  • Schedules for various specific taxation services
  • Standard terms and conditions of business
  • Cancellation notices for consumers
  • Letter of disengagement

We have produced a new draft agreement for use by a practitioner who acts as a subcontractor to a regulated firm registered in private practice.

Additionally, the 2020 edition sees the following amendments:

  • The Making Tax Digital Schedule is now incorporated into the main guidance
  • The cash basis is now referred to within the sole trader/rental agreement schedule
  • In-year Capital Gains Tax reporting is now covered within the personal tax, sole trader/rental income, trusts and estates, partnership and LLP schedules
  • All VAT Moss sections have been amended to remove references to registering in the UK as a result of the EU withdrawal
  • Off Payroll working changes are reflected (although deferred owing to COVID -19)
  • The guidance and covering letter have been amended in relation to the acceptance of the agreement by electronic means or where no reply is received
  • The covering letter has been amended in relation to agent authorisation
  • We have added suggested wording to the fees schedule, adding additional guidance relating to fees being settled by a tax refund
  • Updated the colour coding throughout which aims to make it easier for members to be able amend the guidance for their own use

It should be noted that no changes have been made to reflect government support packages during the COVID-19 pandemic.

Engagement letters for tax practitioners, effective from 27 April 2020 (pdf 1MB)

Engagement Letter – Subcontractor agreement (pdf 611KB)

Investment Policy Statement

This sample Investment Policy Statement (IPS) and accompanying Guidance is provided by the UK Practice Committee to assist practitioners in complying with the requirements under the Trustee Act 2000, applicable in England and Wales, and other legislation such as the Trustee Act (Northern Ireland) 2001 where similar obligations are required.

The sample statement has been drafted with the trustees of private family trusts in mind, although trustees of charities should also consider the requirement for an IPS. It is good practice to have a written statement in place from the outset of any delegation of investment powers to professional qualified advisors.

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