SJD (Manchester) Service Going Down The Pan?

[ContrataxLtd]

You will find that even some of the big boys, are not under a governing body (SJD, Churchill Knight etc).

I'm happy to stand corrected on this one if I'm wrong but since the takeover I don't think any of the staff at either Nixon Williams or SJD hold practicing certificates meaning neither firm is under the governance of an accountancy body. I think InTouch are regulated by ICAEW as are we.

Generally, it's more of the smaller firms that are actually regulated by an accountancy body due to the fact that you need to be regulated (hold a practicing certificate) to hold an interest in the company (shares or partner share). Regulation does come at a cost, both financially and also in terms of what you can and can't offer to clients.

Martin
Contratax Ltd

[Martin at SJD Manchester]

I'm happy to stand corrected on this one if I'm wrong but since the takeover I don't think any of the staff at either Nixon Williams or SJD hold practicing certificates meaning neither firm is under the governance of an accountancy body. I think InTouch are regulated by ICAEW as are we.

Generally, it's more of the smaller firms that are actually regulated by an accountancy body due to the fact that you need to be regulated (hold a practicing certificate) to hold an interest in the company (shares or partner share). Regulation does come at a cost, both financially and also in terms of what you can and can't offer to clients.

Martin
Contratax Ltd

I am unsure why you think this. SJD have a number of staff that hold practicing certificates.

Martin

[ContrataxLtd]

I am unsure why you think this. SJD have a number of staff that hold practicing certificates.

Martin

It's what I'd been lead to believe and couldn't find any information to the contrary. As I said though, I was happy to be corrected so many thanks for this and my apologies for getting this wrong.

Also, I couldn't see anywhere on your website that you are an ACCA registered firm? Are you actually regulated by any of the main accountancy bodies?

Thanks

Martin
Contratax Ltd

[Martin at SJD Manchester]

It's what I'd been lead to believe and couldn't find any information to the contrary. As I said though, I was happy to be corrected so many thanks for this and my apologies for getting this wrong.

Also, I couldn't see anywhere on your website that you are an ACCA registered firm? Are you actually regulated by any of the main accountancy bodies?

Thanks

Martin
Contratax Ltd

Without a directory of SJD's staff I don't see what you could be looking for.

We are not an ACCA registered firm, nor have we claimed to be. We are no longer regulated by an Accounting body, the reason for this is because the owners of the business do not hold the necessary accounting qualifications.

Having said that, we have far more qualified staff than any of our competitors. If I were a paying client, I would be more interested in the qualification level of the staff and management doing the day-to-day work, than that of the owners.

[ContrataxLtd]

Without a directory of SJD's staff I don't see what you could be looking for.

We are not an ACCA registered firm, nor have we claimed to be. We are no longer regulated by an Accounting body, the reason for this is because the owners of the business do not hold the necessary accounting qualifications.

Having said that, we have far more qualified staff than any of our competitors. If I were a paying client, I would be more interested in the qualification level of the staff and management doing the day-to-day work, than that of the owners.

Thanks Martin, you've provided the clarifications I was after in terms of regulation etc.

Again, my apologies for any confusion I may have caused too. I was more relating to the firm being regulated by an accountancy body post takeover rather than individual staff and the practicing certificate side of things.

I would also agree with you that the qualification level of the staff/management doing the work is the most important factor rather than that of the owners.

[JB3000]

I am unsure why you think this. SJD have a number of staff that hold practicing certificates.

Martin

Can these staff sign accounts for mortgages?

Is there an extra charge for this?

[Waldorf]

Usually only owners/directors of an accountancy practice would be required to hold a practising certificate, so employees of SJD or any other accounting company would not normally hold one.

Anyone can sign a mortgage statement but whether the bank accepts it depends on the bank. If there is someone who is ACCA you should be ok. Some accept AAT.

[Alan @ BroomeAffinity]

Anyone can sign a mortgage statement but whether the bank accepts it depends on the bank. If there is someone who is ACCA you should be ok. Some accept AAT.

Many lenders are now accepting Sa302 forms as proof of income but of course they only show what comes out of the business as opposed to in. HBOS, I understand, now ask for SA302"s as default rather than accounts.

[LondonManc]

Many lenders are now accepting Sa302 forms as proof of income but of course they only show what comes out of the business as opposed to in. HBOS, I understand, now ask for SA302"s as default rather than accounts.

Same goes for HSBC. The new rhetoric for banks, as of spring last year, is apparently to get lending more but be more careful who you lend to.

[PerfectStorm]

Many lenders are now accepting Sa302 forms as proof of income but of course they only show what comes out of the business as opposed to in. HBOS, I understand, now ask for SA302"s as default rather than accounts.

So if your money is in the business more than paid out, they can't help?