The Federation of Tax Advisers is merging

The Federation of Tax Advisers is merging

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The Federation is merging with the IFA. Is this a step forwards or backwards?
Phil Rees

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By Dave Paveley
24th May 2009 10:05

My mistake..

I meant no recognition.

It seems to me that the FTA started off filling a genuine gap in the market, got a little confident as it grew and then decided to entirely change it's remit to match that of an already existing, and widely recognised, organisation (ATT).

The same could be said about the IFA and I guess, now facing diminishing numbers, they are both probably looking for a new direction.

Do they they return to their roots as an organisation for the QBE's? Well, I think ICPA has probably cornered the market on trying to pass it's members off as something they are not, although the ACPA is doing it's best to gain market share in that sector.

The IFA certainly don't want to be associated with those two. They also seem to be a little embarrassed to be in the same IFAC boat as the well respected AAT, although I am not sure why.

Therefore, the only direction left is for them to compete with the big boys in an already saturated market. Unfortunately for the FTA, hanging on to the IFA's coat tails is probably the better of their only two options, although ultimately the end result for them may be inevitable.

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By Ronnie Stanley
23rd May 2009 17:38

Not set up to rival anyone
The FTA was set up in 1997 to cater for 'unqualified' tax advisers who wished to join an association that provided both support to members & regulation of those members as far as clients were concerned. Not to rival ATT or CIOT.

About three years ago, an examination was introduced for new members, & CPD & PII was made mandatory.

The membership base is over 500 so its wrong of Dave Paveley CTA to dismiss this as being of no standing.

Similarly the IFA which I believe has over 5,000 members & students.

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By Dave Paveley
20th May 2009 18:11

FTA has little or no standing..

..in the profession, similarly to the IFA.

A merger will make no difference to that.

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By trishyjones
20th May 2009 10:41

FTA
Why was the FTA set up in the first place as it would appear to be a rival for ATT (Association of Taxation Technicians).CIOT (Chartered Institute of Taxation) or have I missed something?

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By neilglos
13th May 2009 13:14

Merger with AAT?
Whilst merging the AAT and IFA would create a larger body, I would say that the AAT is currently better recognised by employers than the IFA. Also, why should AAT non-fellows be called Accounting Technicians? The AAT qualification already compares (as is stated by the IFA exemptions policy) to the AFA standard. As for the FTA qualification complimenting the existing AAT qual, the AAT tax options are already comparable.

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By sjaaccountants
13th May 2009 09:30

merger with aat
Yes a merger with AAT would be the best way forward. Maybe the existing members of the IFA and the fellow members of the AAT could become Financial Accountants.
All the existing non-fellow members of the AAT along with all new members could use the designation of accounting technicians, then when they are able to progress to fellow members of the new body they would become Financial Accountants.
The AAT already have additional qualifications in payroll, the expertise of the FTA could be used to provide an additional qualification in taxation.

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By User deleted
12th May 2009 13:45

Thanks to IFA Member for correcting my comment about the IAB & apologies for the wrong assumption. (Not quite "completely separate" though as they share several members in common.)

IFA is not part of ICAEW but they do have close links don't they? With Eric Anstee & David Hunt (both former bigwigs at ICAEW) on the IFA Council, & access to ICAEW library facilities which presumably will also become available to FTA members.

The FTA has advised today there are no plans to increase subs & that a deal has been made with BPP to allow the online CPD tax course to remain at £100 plus VAT per annum until 19 June. This price is available to current FTA members & is a very good deal.

And yes, money laundering regulation for FTA members will pass to the IFA. (FTA did apply for supervisory status last year, but apparently was told to apply again this year - now irrelevant).

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By AnonymousUser
12th May 2009 14:56

So
What price a merger with the AAT in the near future?

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By frauke
12th May 2009 11:11

Ronnie - this part of your comment is not correct..............
"The organisation itself will become part of the 'IFA Group' which I believe at the moment comprises the Institute of Financial Accountants & the International Association of Bookkeepers"

The International Association of Bookkeepers is not part of the IFA, and has never been - it used to share a building, staff and had exemptions for IFA membership. Members of both organisations received reduced rate subscriptions of the other, but still had to pay a separate subscription. But no longer. The IAB is now completely separate and recently moved out of the building etc.

The IFA has exemptions (as does the ACCA) for the ICEAW exams, but that does not mean either organisation is part of the ICEAW!

There are a lot of Tax Advisers who are members of the IFA so this would be a benefit to IFA members, as it would give them opportunity to take the FTA exams, without the need to join the FTA .

I don't think the FTA is a Professional Body under the Money Laundering regulations 2007, whereas the IFA is, so the FTA will gain from this. Also the biggest gain for members - only one subscription and not two!


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By Ronnie Stanley
11th May 2009 19:30

Depends...
According to Paul Harmsworth (the head of the FTA), the qualification, exam, & routes to membership will continue. The organisation itself will become part of the 'IFA Group' which I believe at the moment comprises the Institute of Financial Accountants & the International Association of Bookkeepers.

If the FTA 'brand' is allowed to continue beyond the initial two year period, then the extra resources available to the IFA should help FTA members (e.g. much better website, technical support,etc) & also make the qualification better known. I just hope the subs & the online CPD deal don't get hiked up too much as a result!

It does seem that the FTA was too small to continue on its own & I think a takeover/merger is preferable to its slow demise, which was maybe the only alternative.

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