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I have a friend who...

I work with an ACCA student.

He is from overseas and to stay in the UK needed to earn over a certain amount each year.

To hit his earnings thresehold, he started a small business doing tax and accountancy for small businesses outside of his day job.

He now has a visa - but not his qualification yet - so he winds up the company by striking it off and is concentrating on his last exam.

Trouble is, he has done this whilst owing circa £2k in CT!

I have tried to point out to him all of the problems with his activities to date and his plans going foward and that he has and is committing all sorts of "punishable offences" but as a memebr of the ICAEW I cannot access the rule book he is subject to and he refuses to listen to me as it doesn't suit him.

Can anyone help me point him in te right direction and give me guidance and what - if anything - I should do.

Regards

Steve

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12th Mar 2012 20:51

ACCA rule book

The ACCA rule book is online HERE.

David

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12th Mar 2012 21:14

I'll be blunt.  Steer clear.

I'll be blunt.  Steer clear.

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By pawncob
12th Mar 2012 22:12

I had a friend.....

like this once. He's still residing at Her Majesty's pleasure.

(Start as you mean to go on. Today, petty fiddles, tomorrow Madoff)

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13th Mar 2012 11:00

its too easy

freinds from the african subcontinent for example dont really have much interest or desire in following and abiding by rules and timetables such as those here in the UK

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13th Mar 2012 12:19

Undertakings to Companies House

Striking off is either initiated by the Registrar of Companies for failure to meet filing requirements, or by application to the Registrar, in which case undertakings have to be given.  HMRC vet all strike off proceedings and frequently object, but in this case that has apparently not happened.  If the strike off followed an application, then it is possible that a misleading statement has been made, which would be an offence, as would sitting back and letting the strike off happen at the instigation of the Registrar.  If HMRC decide to have another look, it would be normal practice to present a petition to the court to have the company wound-up and restored to the Register for this purpose, then the director would face investigation by the Official Receiver or a liquidator chosen by HMRC.

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13th Mar 2012 14:58

As an ACCA student he could be removed from their as their rules are clear that students and even someone qualified through ACCA can not prepare accounts or tax as self employed without a practicing certificate even if unpaid

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13th Mar 2012 15:25

i am delighted to hear

that you have never  understated taxes due by you or your clients even by 1p - forget about it move on.

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13th Mar 2012 16:36

!

carnmores wrote:

that you have never  understated taxes due by you or your clients even by 1p - forget about it move on.

I should sincerely hope no-one has understated a client's taxes by even a penny!  My client's pay the exact amount they have to and not a penny more, but also not a penny less.  And I imagine that's the position for almost everyone here.

Unless you are suggesting claiming legitimate expenses and deductions is understating tax?

 

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13th Mar 2012 16:38

I had a friend...

Incidently I too had a friend, but they were a disapointment, so one day while we were swimming together I nudged him towards a Chinese man who was licking his lips and then I ducked under the water and swam away.

Last I heard he had become a number 47 at the Jaded Dragon.

True story.

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13th Mar 2012 17:21

no wonder you are constantly confused ;-)

i think you know exactly what i mean - was it Fatal Atraction , we know what you are we are just arguing about the price!

 

edit - this is respect of OP not CC :-)

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15th Mar 2012 11:19

ACCA Rules are clear!

Crikey from what I'm learning from the ACCA re: gaining a practice certificate, they would be most displeased with this sort of behaviour and I would assume he would be either fined, struck off or both, depending on the extent of the work prepared etc. You are most certainly NOT allowed to be a Prinicipal of a company, a shareholder of greater than 5% or to receive profits from fee income or sign off the accounts UNTIL you have your Practicing Certificate, which is 1 year pre-qual and 2 years post-qualified experience signed off by a Principal and then a months review by the ACCA before they even potentially issue the certificate, no guarentees until you actually receive it.

Under the ACCA rules you have the right or duty to disclose and although I don't know the ICAEW rules, I'm pretty sure from your intial question, that like me you don't agree with what he's done! Only you can make the choice of what to do.

 

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