Share this content
12

Does ACCA exams F6 & P6 (taxation) cover everything needed to run a payroll firm?

Does ACCA exams F6 & P6 (taxation) cover...

Didn't find your answer?

Does ACCA (F6 & P6) cover everything to run a payroll firm?

Replies (12)

Please login or register to join the discussion.

avatar
By Rweaver
24th Apr 2016 19:14

Ermmm...
You've already asked this question:

http://accountingweb.co.uk/anyanswers/question/does-acca-exams-f6-p6-tax...

But the answer is no.

Thanks (0)
avatar
By adamF1991
24th Apr 2016 20:00

Can you please elaborate, what would you sugguest to gain the appropriate knowledge?

Thanks (0)
avatar
By Rweaver
24th Apr 2016 20:14

CIPP

Thanks (2)
avatar
By adamF1991
24th Apr 2016 20:36

Can I obtain study material for CIPP without actually doing the qualification?

Thanks (0)
avatar
By oldiegoldy
24th Apr 2016 20:19

NO, To run paye you need to start from here

https://www.gov.uk/running-payroll

Also you can attend a training session with the payroll software provider to understand how to record data in their software..

 

Thanks (0)
By Mouse007
24th Apr 2016 23:10

Did

Passing your driving test cover eveything to drive?

 

 

Thanks (1)
avatar
By sarahg
25th Apr 2016 07:25

Experience

You will need practical experience as well as study books

Real life is very different to a text book scenario

 

Thanks (0)
avatar
By adamF1991
25th Apr 2016 12:11

I have practical experience but its not in depth. I know how to run basic payroll through sage. However I would like to know the calculations in the background and build on certain topics such as benefits,deductions and tax laws. every payroll team I have dealt with do not know the in's and out's of payroll and simply think its a "data entry job" , (which I disagree with) thats why I want extensive knowledge before I consider starting a payroll firm. Just out of curiosity my uncle is an chartered accountant, he is able to supply payroll support, what kind of knowledge will he be missing from his studies, or will the gaps just be filled by experience?

Thanks (0)
By SteLacca
25th Apr 2016 10:03

Not to mention, working exclusively in payroll is high pressure. It's not like meeting the odd deadline for individual client's accounts & Tax Returns once or twice a year, it's meeting a deadline for every client every month (or week), and no option to be late, otherwise people don't get paid.

Thanks (0)
Locutus of Borg
By Locutus
25th Apr 2016 12:34

I did my ACCA exams in the mid to late 1990s

The two tax papers told me virtually nothing about the practicalities of running payroll or indeed in preparing self assessment tax returns.  I doubt whether much has changed.

Everything I know about payroll I have learned in previous employments, reading AWeb, going on CPD courses, etc.

From what you are saying, it looks like you would benefit more from studying with CIPP.

Thanks (0)
avatar
By adamF1991
25th Apr 2016 15:16

Do you know where I can buy CIPP textbooks? :) - apparently you have to do a course and cannot purchase the textbooks as a stand alone item :(

Is there any textbooks which will be suffient towards my aims?

 

Thanks (0)
Locutus of Borg
By Locutus
25th Apr 2016 15:52

Don't know

adamF1991 wrote:

Do you know where I can buy CIPP textbooks? :) - apparently you have to do a course and cannot purchase the textbooks as a stand alone item :(

Is there any textbooks which will be suffient towards my aims?

Contact CIPP and perhaps they can tell you who supplies CIPP textbooks.

Thanks (0)
Share this content