I have been a member of the ACCA for 2 years and during this time have worked for industry but for non approved ACCA employers. Before being in industry I worked for an employer in practice for 8 years but as advised by ACCA I cannot use this as experience as it was before ACCA membership. Therefore I am looking at becoming self employed subcontracting to Accountancy Practices. I am waiting for Approved ACCA employers from ACCA but was wondering if any one had any advise on how to approach the practices? What rate would you charge for the services? I am purely interested in the experience and not so much in the return but do not want to work for nothing.
Any advise would be highly appreciated. I look forward to hearing from you.
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Last time I did this ( early to mid 1990s) I charged 1/3rd of the fee the firm charged to the client, and I only got paid when the firm got paid by the client. It did mean working for a couple of months before I started receiving any income and it also resulted in it being 18 months after I stopped (I was again taken on by the firm as an employee) before I was paid for all the work.
This worked because I was doing all the work for which the fee was charged, accounts, tax etc, and the firm were then merely reviewing my work. It also worked because the firm I did the work for had been my employer a few years earlier so I was familiar with their accounts approach/ file layout etc and they knew what they were likely to get from me. (Why it is a good idea to always leave a position on good terms- one never know when one might wish to return)
Afraid cannot really advise what the norm is these days.
Drop us a line ([email protected]). We're looking for (UK) subcontractors; both ACCA and ICAEW approved; location not an issue.