I joined the ICB by exemption last year, at 'Associate' level when I was part-way through my level 4 AAT. I got my practice licence approx 4 months later and completed AAT a month after that. In November last year I sent the paperwork to ICB asking them if I could upgrade my membership to 'Member', and if the personal and business tax modules I took would be enough for me to also have the 'self-assessment' cover or whether I'd still need to take their qualification. After giving them a few nudges I'm STILL waiting for the upgrade and answer.
Today I received my invitation/invoice to renew my 'Associate' membership
I don't know whether to just stick to Associate and not bother with being 'Member', quite frankly I'm not sure whether to ditch them altogether. I'm in part-time employment at the moment and not pushing the self-employed side at all right now. But it is something I may like to pick up again later this year, once I feel more confident in this job and have a bit more time (I probably won't be needed for the school run from September).
Perhaps I should renew the cheaper way (Associate) and make a decision before the practice licence comes up for renewal. I can't see much point in being any grade of ICB member if I'm not going to have the licence though. At the moment it feels like I'll be throwing good money after bad. But if I don't renew at all I will lose my licence at the end of May.
Should I forget the ICB now, cut my losses, and concentrate on achieving MAAT with a view to MIP? The title of this thread is, is it worth upgrading my ICB membership, and I'm now talking myself into not even renewing it lol. Sanity check please?
I'm IAB but I have been hearing some reports in other forums of issues like this with ICB. Some are moving to IAB as they don't restrict what services you can offer through examinations and have been getting better response times. That may or not may not be a good thing but its what they do.
Can't say whether or not you should leave the ICB as I have no experience myself but it might be worth contacting IAB and seeing what level membership you can get through your existing qualifications, there is no exam to take.
Hi Christina
What do you actually need the ICB for? Clients don't have a clue, most Accountants prefer AAT and they clearly ignore your emails when YOU want something, yet when THEy want something, ie your money, then they will probably hound you to hell and back. Their support is appalling from what I keep hearing.
I've heard this tail a few times, and heard of people leaving, even that they took several months to send practice licence paperwork out to someone who had passed their exams and were desperate to start working and I've also heard people ditch them and go to IAB.
Johnny who posts on here is AAT and went IAB I seem to recall. But why not just register with HMRC for MLR and go it alone and do your self assessments etc, then go after your MAAT MIP. Do you know someone who can help you get signed off experience?
Ditch them and run!
__________________
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
I remember that Eilef who used to post on here had similar frustrations with administrative shortcomings in his case last year.
In your case you only joined them as a flag of convenience whilst you were training.
You now have AAT which is a recognised and respected qualification by accountants, employers and QCF.
If you have already been gaining relevant experience under your ICB practice certificate moving up to MAAT MIP should not be too problematic.
If in the interim you go the HMRC route for MLR you can get PII through Trafalgar (see top of page offers) for £78 a year.
As indicated by Joanne, be careful how you leave. You actually have to tell them that you are leaving (send an email with a read receipt which you need to keep and when you return your membership certificate and practice license do so recorded delivery) as I have read reports, admittedly in the past, that they treat simple failure to renew as overdue payment of fee's and fine members on that basis.
The issue there is that if they expel you for non payment that can cause issue with other bodies that you are a member of.
Also you need to ensure that their logo is removed from your website and all advertising materials.
.... There's definitely a theme developing in the responses so far!
__________________
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 think HMRC is the way to go. £215 for HMRC v min of £181 with ICB, plus upgrade fees. Just checked the ICB Ts & Cs, if I'm cancelling I've got to get my skates on. Interestingly, I've just this minute received a phonecall informing me they've made a decision. They will upgrade my membership and I can do SATRs (and apologies for it taking so long...hmm)
Sounds as though they read this site Christina. lol.
So, decisions, decisions time.
Remeber that with HMRC its £215 for the first year only. Subsequently it's £115 per year vs ICB membership and practice certificate and upgrade costs.
__________________
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 believe that Trafalgar (the one ICB people insure under) are tied into arrangements with certain professional bodies (pretty sure AAT and IAB also use them).
Arlington (which is underwritten by Zurich advertised in the special offers above) restrict cover to what you are qualified and experienced to do.
The poster is AAT and has proven experience in practice so I do not see that they will have any difficulty with insurance.
If this was someone setting up with no experience and no qualification then you are completely correct and they would find difficulty getting cover and if they did get cover they may find difficulty making a claim as they would be unable to prove the experience/qualification requirement.
__________________
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.
Thanks all for your input. I was wondering if they'd read my post Shaun, lol.
Almost £300 upgrade fee - it's a no-brainer really. I've filled in the HMRC form, which doesn't ask for any qualifications or experience, or anything really (have I missed a bit out somewhere perhaps?) and it's ready for me to sign and send when I'm ready. And a friend has passed my details to a potential new client today so I think I should keep something in place.
Tbf I have attended quite a few of the ICB regional meetings which have always been informative and well run, and where I've made some good friends and a mentor - it's been invaluable to my career progression.
Insurance... could this be what I've missed?
I'm newish, only been self-employed since September and not really done much with it, mainly through lack of confidence. I started working for an accountant about 6 weeks ago which is my first job in accounts environment - it's bookkeeping (to a fashion - I've posted about everything being BR/BP), filing VAT and tax returns that have been prepared by the accountant (though I type them/fill in the online stuff), and running payroll for about 15 companies.
Do you think I would have difficulty getting insurance without the ICB backing?
not at all, give the guys at Arlington a call or drop them an email to discuss.
At the end of the day, you're AAT and you've got experience working for the accountant.
The ICB bit doesn't matter anyway to you as you have never taken an ICB exam. They were just accepting that you had proven yourself with the AAT qualification.
Thinking about that logically you would be arguing that you would be better off quoting a qualification that you never took but were rather awarded by exemption in preference to the actual qualification that got you the exemption in the first place!
Your AAT is what matters. Have a chat with Arlington about it tomorrow to confirm though before jumping one way or the other.
__________________
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 think HMRC is the way to go. £215 for HMRC v min of £181 with ICB, plus upgrade fees. Just checked the ICB Ts & Cs, if I'm cancelling I've got to get my skates on. Interestingly, I've just this minute received a phonecall informing me they've made a decision. They will upgrade my membership and I can do SATRs (and apologies for it taking so long...hmm)
Great timing, reckon Shaun could be right there. lol. Cynic - moi?!
No problem with getting insurance without ICB - try Arlington. But if there is (unlikely) - move to IAB!!!!
Looking forward - the Accountant you work for - will they be able to assist with any sign offs to help get you to MAAT MIP? (Although THAT might be tricky conversation if he doesnt know thats what you want to do and he doesnt like competition!)
__________________
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
