Leaving membership of ATT

Leaving membership of ATT

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I am a member of the ICAEW and ATT. I'm shortly leaving practice for industry where only 1 subscription is paid for. Does anyone know how easy it is to let ATT lapse and then rejoin at a later date? ATT is not particularly needed in the role I will be doing. Thanks for any thoughts.

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By sallycox
13th Nov 2013 10:01

Lapsing ATT membership

From a practical point of view, leaving ATT and rejoining at a later date is not a good idea. This is because, as you will be aware, tax law, regulations etc seem to change at an alarming rate and if you do not keep your knowledge up to date you may find yourself lagging behind in the compliance stakes.

I don't know what the ATT's rules are for lapsed members rejoining, although I admit that I should do, being a Branch ATT Rep myself (East Midlands)!

The subs are really inexpensive, bearing in mind that the various benefits that go with it outweigh the cost of the subs. I'm thinking in particular of the annual Tolley's Tax Guide, the Tax Tables and annotated copies of the Finance Acts. Apart from that, the Branch seminars for your local CIOT/ATT Branch will be really helpful in keeping your skills and knowledge fresh. The fact that you should keep your CPD up to date and submit your Annual Returns to back this up is a very useful way of reminding yourself to do this. Without ATT membership this would be lost.

My advice, for what it's worth is to retain your membership of ATT. Of course, not being a member means you cannot use your designatory letters nor practise as any sort of tax advisor. In the future, when you get a job which needs tax knowledge (and which also pays you sufficient to enable you to pay ATT subs yourself!) you will regret leaving ATT.

 

 

 

 

 

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By tom123
13th Nov 2013 10:15

I also have two memberships, in industry

Hi there,

I am just moving jobs, in industry, currently I get one sub paid - where I am going none - but that is the SME sector I suppose.

My new employer was impressed with the recently acquired ATT qual, and having done the exams in the last couple of years it gave me confidence to deal with tax more than I had previously done.

It would be a shame to let one go, although I did let go of AAT when I finished CIMA years ago.

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