Same as the ICB I believe that the IAB's catch all is that you are allowed to offer the services that you are qualified and experienced to perform.
As you are a member you should be able to log into the members area and look at the IAB Memebers Handbook (non IAB members cannot access it so I can't look it up for you, sorry).
You will of course need an IAB practice certificate, and not sure whether they chanrge seperately for MLR cover and to get the practice certificate you will need PII in place.
Their site isn't too helpful as it indicates putting clients in a position to file their end of period taxes rather than doing it for them so have a look at that members handbook as suree that the answer that you are looking for will be in there.
kind regards,
Shaun.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
If you put on your IAB application practice certificate application form (which you sign to confirm you are able to do this type of work) that you do client tax returns, and do what ever the IAB ask you to do so you are approved to practice, then yes you can apply to HMRC to be an Agent and submit tax returns on behalf of clients. The IAB will also cover you for ML.
Why take ICB exams if you are a member of the IAB?
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Thank you for your responses.
I'm actually ACCA qualified but do not have a practice certificate. I also do not advertise myself as being ACCA qualified - this is why I wondered what I was allowed to do and not to do under the IAB heading. As you say they are not very clear.
no, absolutely not, ACCA regulation 8 takes precedence over everything else.
It basically works to the principle that if you are ACCA then anything else that you are is immaterial so if you are going beyond trial balance, VAT and Payroll you are deemed to be practicing as an ACCA member without a practicing certificate (it was the ACCA rules that you needed to be looking at (specifically regulation 8), not the IAB's which are immaterial to you as an ACCA member).
The way that you are thinking is along the AAT lines where if you do not advertise any affiliation then you are ok. With the ACCA that is who you are regrdless as to whether you tell anyone else you are or not.
You can still practice under the IAB banner (using their MLR) up to trial balance but thats all.(no tax, no filing, no advice unless under the supervision of a suitably qualified accountant).
It really makes being a member of the IAB a waste of money as you might as well practice to trial balance using HMRC for MLR.
Also worth noting that time spect working as a self employed bookkeeper can only count towards practice certificate supervision where such is being supervised by an accountant registered with the ACCA from practice certificate supervision.
Hope that helps and sorry to be the bearer of bad news,
Shaun.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
no, absolutely not, ACCA regulation 8 takes precedence over everything else.
It basically works to the principle that if you are ACCA then anything else that you are is immaterial so if you are going beyond trial balance, VAT and Payroll you are deemed to be practicing as an ACCA member without a practicing certificate (it was the ACCA rules that you needed to be looking at (specifically regulation 8), not the IAB's which are immaterial to you as an ACCA member).
The way that you are thinking is along the AAT lines where if you do not advertise any affiliation then you are ok. With the ACCA that is who you are regrdless as to whether you tell anyone else you are or not.
You can still practice under the IAB banner (using their MLR) up to trial balance but thats all.(no tax, no filing, no advice unless under the supervision of a suitably qualified accountant).
It really makes being a member of the IAB a waste of money as you might as well practice to trial balance using HMRC for MLR.
Also worth noting that time spect working as a self employed bookkeeper can only count towards practice certificate supervision where such is being supervised by an accountant registered with the ACCA from practice certificate supervision.
Hope that helps and sorry to be the bearer of bad news,
Shaun.
Does it need to be bad news? I only go up to Trial Balance and have a thriving business with more work than I Can shake a stick at. I only deal with Limited Companies (my choice).
Totally agree there is no need to join the IAB ....it's not going to give you any benefit.
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
didn't mean it that way, I meant it from the perspective that the poster wouldn't be able to do what he thought that he would be able to rather than there being anything wrong with what he would be able to do.
Also, really don't mean it to sound at all anti IAB, could just as easily have been ICB or even AAT (as well as a multitude of other professional bodies). Nothing gets past the fact that you are ACCA which trumps everything else that you decide to join and ACCA rules must always be considered ahead of the rules of other organisations.
All the best,
Shaun.
__________________
Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
very true, but thats why people hold off from moving up to MAAT even when they can until they have the experience requirement to also get their MIP at the same time.
We've covered that one on the site a few times as its one of the many pit traps of qualification that is so easy to fall into. i.e. you are merrily practicing making no mention of affiliation as a student, move up to membership and you are no longer deemed able to offer the services that you were offering previously.
As with regulation 8 its a quality measure that makes sense but does not always act fairly in the greater scheme of things.
As an example with regulation 8 you can have an accountant with years of experience, five years plus to pass all of their exams, three years signed off experience to gain membership but they are only allowed to work as a bookkeeper unsupervised.
Conversely you can have someone with one of the lower level bodies oblivious to what they don't know who in a few months is preparing accounts.
it's a funny old world init!
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
You have not really responded to the message saying that you cannot practice under the IAB flag if you are ACCA so unsure what your plans are.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
My impression was that Newbie3 hasn't yet set up with the IAB so this thread has caught things before they made that mistake.
If someone made the mistake to be trading under IAB or ICB and going beyond trial balance whilst not holding an ACCA practice certificate then they would need to cease and desist immediately and, considering that integrity is the primary fundamental ethical principle you would hope that hey would report their error and the correction of it to the ACCA... I suspect that doesn't happen a lot!
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
I may be wrong, but Newbie3 is a IAB member. Is ACCA qualified, but that does not mean ACCA member. My brother is a ICAEW qualified, but no longer a member so is no longer regulated by them. Qualified, means you took and passed the exams. Membership means you are regulated by.
As long as he is not a ACCA member he is not breaking any ACCA regulations.
-- Edited by YLB-HO on Thursday 10th of September 2015 11:01:12 PM
completely correct Frauke but thats not the way that I read it. to quote :
"I'm actually ACCA qualified but do not have a practice certificate. I also do not advertise myself as being ACCA qualified".
I think that it was the word advertise that sold me on the idea that he's possibly an associate (passed all of the exams but not yet able to move up to membership).
Basically, we're answering questions based on guesswork as there's very little is being given away to go on.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
I was really playing devils advocate - is Newbie3 thinking of giving up on progressing further with the ACCA just do to a few tax returns? Nothing wrong with that if they so choose, many seem to do so - as you say the experience of passing the exams isnt lost.
So Newbie3 - what are your thoughts on all this lot? (Would be good to have a name too....hate calling you newbie!!)
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
unless it is you with another userid (against forum rules but I'll let it slide in this instance) there is a second FCCA going through the same scenario at the moment in this thread :
Unless you state otherwise I'm going to take the two scenario's as the same.
The advice in the other thread where we have more information about the poster seems to favour AIA if one has absolutely decided that ACCA is no longer for them.
In this thread it started from the perspective of focusing upon IAB rather than the real issue of you still being an FCCA so not permitted to fully use the IAB qualification (namely, not allowed to go beyond trial balance without an ACCA practice certificate).
To simplify maters you have now stated that you are both an FCCA and a member of the IAB. What that means is that you would only be allowed to work up to trial balance while you are still an FCCA regardless as to what the IAB practice certificate says that you can do.
Have a read of the other thread that I link to above as we cover much of the same ground.
kind regards,
Shaun.
__________________
Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
