Am i correct in thinking that if you achieve all the additional modules under ICB Level 3 i.e. self assessments, Payroll etc and you are a member in practice. Can you carry out full accountacy services to clients i.e. P&L, balance sheet, self assessment? Or would you still have to submit to a qualified accountant for approval before submitting?
The only thing you wouldn't be allowed to do is auditing.
Someone asked a similar question (regarding level II) on the ICB forum. Because of the reply I added my tuppenceworth regarding level III.
EDIT : Maybe the goalposts have moved as I think the wording on this page has changed. since the last time I looked as there was debate over the wording.
-- Edited by Peasie on Monday 9th of May 2011 07:43:21 PM
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Never buy black socks from a normal shop. They shaft you every time.
II am qualified as MIAB and run a Practice licenced through HMRC and I cover everything. If it is a particularly contentious tax situation, I collaborate with a Chartered Accountant buddy of mine.
If you are a Certified Bookkeeper (ICB Full Member) you can complete the final accounts. You then need them to be signed by the director and submitted.
If the company is being audited your client (or you) needs to hand the final accounts to to the auditor after the director has signed them and before they are submitted.
If you have the Level 3 Diploma in the Completion of Self Assessment Returns you can also complete these for your client.
Chris, if you are a IAB member, you must be registered with them for ML not HMRC. If HMRC check and find out, they will tell you that your registration with them is not valid as you must be registered by your professional body - and they will also keep your money!
HMRC ML registration is ONLY for people NOT a member of a approved ML professional body
-- Edited by YLB-HO on Thursday 26th of May 2011 01:49:40 PM
