Learn how we’ve evolved the protections in your OverSuite Letters of Engagement since launching one year ago.

Your top 7 updates

The compliance landscape is constantly changing. Reviewing those changes and understanding how they affect your engagement letters is a huge task. As an OverSuite subscriber, we do that for you formally on a quarterly basis and ad-hoc as changes arise. We also work with our compliance experts to shape the product based on your requests, to ensure it’s suitable for every business type.

Here’s a breakdown of the core 7 updates we’ve made to OverSuite in the past year.

Professional Bodies

1. CIMA, CIPFA, AAT, IFA, ATT and the CIOT made changes to the way complaints and alternative dispute resolutions should be communicated to clients. This has been reflected in the Complaints Section of the Terms & Conditions. So, if you’re a member of any of these professional bodies, OverSuite now includes this statement as best practice…

Complaints Section [changes]

[I/We] undertake to look into any complaint carefully and promptly and to take all reasonable measures to resolve the position to your satisfaction. If [I/we] do not deal with your complaint to your satisfaction you may take up the matter with [my/our] professional body [pro_body_short_name]. At that point, if appropriate, [I/We] shall also provide you with details of an approved body that you may wish to contact with regard to a possible alternative dispute resolution process.

2. CIMA made it possible for you to now hold client monies. If you do, then this would have been automatically updated and reflected in your terms and conditions. If you didn’t previously hold client monies, but now you do, we asked that you changed your answers in the OverSuite wizard.

Post Brexit Changes

1. Changes to VAT as a result of Brexit were included in the VAT schedules.

Our Service to You [changes]

[I/We] will review your VAT returns, and Intrastat returns (which will continue to be required throughout 2021) and your Non-Union VAT MOSS scheme returns MOSS returns as applicable on the basis of the information and explanations supplied by you.

Your Responsibilities [changes]

If you provide digital services to consumers in the EU you are responsible for either registering for VAT in that member state or registering for the Non-Union VAT MOSS scheme in an EU member state.

2. Changes to the Data Protection section of your Terms and Conditions to update the legislation reference.

Data Protection [changes]

[I/We] will comply with the General Data Protection Regulations and the Data Protection Act 2018 as amended by the Data Protection, Privacy and Electronic Communications (Amendments etc.) (EU Exit) Regulations 2019 which merge the previous requirements of the Data Protection Act with the requirements of the General Data Protection Regulation ((EU) 2016/679) when dealing with your personal data.

3. Updates to your Privacy Notice

As the UK are no longer a part of the EU, we added a new section to the Privacy Notice to clarify whether or not you transfer your clients data outside of the UK.

Where data is transferred outside of the UK, we explained that a list of those countries must be provided in your Privacy Notice.

To make this possible, we updated the OverSuite wizard and asked that you provide this list of countries so that this data would be pulled through to your Privacy Notice automatically.

Enhanced Protections in Your Terms and Conditions

Several areas of your Terms and Conditions were auto updated for added protection. Changes to Terms and Conditions were made to account for transactional or volume based fee reviews.

Learnings from a supreme court ruling led to an additional clause around advice within your Terms and Conditions for added protection. We also ran a full webinar on these learnings and how you and your team can provide watertight advice to your clients. 

Fees, Payment Terms and Timetable [changes]

Where the quote for the work is dependent on the volume of transactions, for example employee numbers or number of invoices, a regular review will be undertaken for any changes and the fee will be updated accordingly.

30+ New Service Schedules

Service Schedules are crucial because they clearly outline your responsibilities and your clients responsibilities regarding the specific services you have agreed to provide. These are dynamically pulled into your Letters of Engagement where you have agreed to do a particular service for your client.

OverSuite initially provided 30 service schedules to cover general accounting, tax, and payroll work.

With your feedback and after liaising with our compliance experts, that’s doubled in size.

You now get over 60 service schedules as part of OverSuite, some key additions include:

  • EIS, SEIS and EMI Schemes.
  • Registration for PAYE, VAT, Auto-Enrolment and Self Assessment.
  • A wider variety of Annual Accounts based schedules covering Limited Companies, Sole traders, LLP’s, and dormant companies.
  • Software related schedules for the provision of cloud based services.
  • A greater spread of Company Secretarial related schedules such as LLP formations, Company Formations and Company Strike Offs.

The Blank Service Schedule

In some cases, if we provided you with a Service Schedule for those services that are more bespoke or high-risk, we’d actually be acting to your detriment.

This is because these need to be carefully constructed to clarify yours and your clients’ exact responsibilities, which could change from firm to firm dependent on your processes and the purpose of the service.

For those services that we can’t provide Service Schedules for, we facilitated the creation of your own by providing you with a Blank Schedule, allowing you to draft this out carefully in the way you need.

Letters of Engagement For Bookkeepers

We wanted to ensure the bookkeeping industry is covered with OverSuite Engagement Letters, just like the rest of our members.

So we worked with our compliance expert and bookkeeping partners to ensure correct, robust Engagement Letters were added.

We added two templates which are now available to add to your OverSuite library of engagement letters: a letter for where you are providing bookkeeping only services to any client type, and one to cover situations where you outsource the accounts and tax work.

Learn More About The Bookkeeping Piece

Disengagement Letters & Key Documents

Alongside the scopes, terms and conditions, service schedules and privacy notice provided by OverSuite, we introduced Key Documents.

For any accepted proposal (using an OverSuite engagement letter), users can download disengagement letters, professional clearance letters, commission and third party notification letters, introductory letters and authority letters.

“For over 30 years Valerie Steward has worked with accountancy practices, helping them to develop their businesses and remain compliant. She has authored and co-authored a number of technical guides, work programmes on audit and anti-money laundering and practical aids such as engagement letters as well as publications on practice management and the not for profit sector.”

Valerie StewardAt The Forefront Of Compliance For Over 30 Years

Discover more about OverSuite

Learn how to reduce your risk and meet the highest compliance standards with our suite of Smart Engagement Letters that evolve with regulatory changes & auto-update in GoProposal for you.

Read How To TrialDiscover More
Danielle Fisher

Danielle Fisher

Danielle is a Senior Client Success Manager at GoProposal, supporting accounting and bookkeeping firms to meet their business goals through use of the GoProposal platform. She also oversees the development of OverSuite, liaising with our compliance experts to ensure that our engagement letters always reflect the highest levels of compliance excellence and protection.

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