Reply to: New Accountant

[ContrataxLtd]

This is getting fun.

Pass the dip Jon

Maybe we can get the thread back on topic now though Personally I think the CTA qualification adds more value to dealing with contractors than ACCA because large parts of ACCA are to do with accounting policies and various other things that won't affect contractors. However, the thing that having a professional qualification means it that the individuals holding them have to keep up to date with the ever changing legislation and maintain on going professional development.

That said, I think experience counts for a lot in this game, having the qualification is one thing but having an in depth knowledge of all areas affecting contractors is another thing entirely!

Just out of interest, I'm waiting to see what will happen with what ever practicing certificates are held by NW & SJD. If the people who hold these leave then will others within the organisations be able to take responsibility for the on going compliance and get their own practicing certificates or will the firms simply not hold them going forward............

Martin
Contratax Ltd

[Alan @ BroomeAffinity]

Pot. Kettle.

[JonNorris@Crunch]

This is getting fun.

[Tom at Anderson Griffin]

Way to endear yourself to the masses on your first post.

[CloudWalker]

ClearSky are good and if you like we can split the referal cheque

[DiscoStu]

Way to endear yourself to the masses on your first post.

I was mostly offended by the incorrect spelling of nonsense.

[Alan @ BroomeAffinity]

utter non-sense.

Way to endear yourself to the masses on your first post.

[Sausage Surprise]

Try Crunch.....real time accounting and 40-50% cheaper than NW or SJD. I love it as it gives me even more control over my company dealings. (I do not work for Crunch!)

[TheFaQQer]

When did Clare leave?

Recently / imminently but isn't as involved any more.

[Underscore Pt2]

It's all change at the moment with everyone, it seems.

NW and SJD have just been taken over, but the service won't change ()

Clare has left InTouch, but the service won't change ()

Not sure who I would recommend at the moment, to be honest.

When did Clare leave?

[Tom at Anderson Griffin]

Believe it or not, hardly anything from the ACCA qualification is actually relevant to contractor accounting. The ACCA qualification is designed around the needs of medium (turnover > £6.5M) and large (turnover > £26M) businesses.

The requirements of micro (turnover < £632,000) and small (turnover < £6.5M) businesses are so simple (because no audit etc is required) that normally the contractor themselves can do the vast majority of the work in Iris OpenBooks, e.g. bookkeeping, VAT, production of sound management figures, dividend vouchers, etc. There are even some contractors using the HMRC website for self assessment. This only leaves PAYE to HMRC, Abbreviated Accounts to Companies House, and Full Accounts and CT600 for HMRC as the only real core work left for the accountants to do.

In effect, ACCA and non-ACCA members are doing exactly the same job, offering exactly the same advice.

As Matin from NW has already alluded to, the vast majority of contractors will not be dealing with an ACCA qualified accountant (this helps to keep fees down as these accountants are very expensive). And the vast majority of firms will be unregulated and unqualified, e.g. SJD, etc believe it or not do not hold any practicing certificates with ACCA, etc.

However each unregulated firm should still have at least 2 ACCA members within the firm in case you need a mortgage reference or VISA letter.

To say the ACCA qualification is equipped for mainly a medium sized firm is utter nonsense.

All key aspects of contractor accounting is covered in the ACCA syllabus, i.e IR35, the 24 month rule, and requirements of statutory reporting.

The large contractor based accountants will have a number of key qualified accountants that advise the rest of the companies staff on what compliance and statutory reporting is required if and when any changes in legislation occur.

SJD are charted tax advisers with the CTA, not sure now however with the sale/acquisition etc.

[JB3000]

Interesting - looking on the In Touch website it seems that other than Clare, nearly all of the other Client Manager / Accountant / Assistants are not fully ACCA qualified yet, most of them are 'working towards this'.

Not sure how this could be an effective setup with so many junior staff looking after IT contractor accounts - puts me off for sure ?

Believe it or not, hardly anything from the ACCA qualification is actually relevant to contractor accounting. The ACCA qualification is designed around the needs of medium (turnover > £6.5M) and large (turnover > £26M) businesses.

The requirements of micro (turnover < £632,000) and small (turnover < £6.5M) businesses are so simple (because no audit etc is required) that normally the contractor themselves can do the vast majority of the work in Iris OpenBooks, e.g. bookkeeping, VAT, production of sound management figures, dividend vouchers, etc. There are even some contractors using the HMRC website for self assessment. This only leaves PAYE to HMRC, Abbreviated Accounts to Companies House, and Full Accounts and CT600 for HMRC as the only real core work left for the accountants to do.

In effect, ACCA and non-ACCA members are doing exactly the same job, offering exactly the same advice.

As Matin from NW has already alluded to, the vast majority of contractors will not be dealing with an ACCA qualified accountant (this helps to keep fees down as these accountants are very expensive). And the vast majority of firms will be unregulated and unqualified, e.g. SJD, etc believe it or not do not hold any practicing certificates with ACCA, etc.

However each unregulated firm should still have at least 2 ACCA members within the firm in case you need a mortgage reference or VISA letter.

[Bunk]

You could try Darren Upton. I don't think anything will be changing there for a few years yet

I hear he's not very flexible about seeing him in person though. Only available during certain (visiting) hours

[Martin at NixonWilliams]

Interesting - looking on the In Touch website it seems that other than Clare, nearly all of the other Client Manager / Accountant / Assistants are not fully ACCA qualified yet, most of them are 'working towards this'.

Not sure how this could be an effective setup with so many junior staff looking after IT contractor accounts - puts me off for sure ?

I imagine there aren't many contractor accountants that have a chartered accountant as the primary contact for their clients. This does not stop them providing a good service. For example Clare, who I understand is not chartered, has always offered good advice on these forums.

We have several chartered accountants within Nixon Williams, we work in small teams which allows us to use the expertise gained from qualifications such as ACCA/CIMA for when it is needed.

[kaiser78]

I'm reserving judgement - it's a difficult act to follow, to be honest, and there will always be a learning curve. So far, though, I'd say that the level of service isn't the same as Clare always provided.

Interesting - looking on the In Touch website it seems that other than Clare, nearly all of the other Client Manager / Accountant / Assistants are not fully ACCA qualified yet, most of them are 'working towards this'.

Not sure how this could be an effective setup with so many junior staff looking after IT contractor accounts - puts me off for sure ?