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Resigning from the ACCA - what do I need to do?

I'm not intending to pay my subs this year, what is the process to avoid issues?

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Hi all

Does anyone happen to know how one leaves the ACCA?  My intention was just to email them to say I won't be renewing my membership and then not paying my fees, but is that how it is done?

I'm not storming off or anything (and I'm not being vague to fish for people asking me why I'm leaving, I'm just not getting any use out of the letters any more and don't expect to going forwards) so I'm happy to remain associated with them, I just don't want to have to pay them (or use my letters any more of course).

Is there a formal procedure or will my email suffice do you think?

Many thanks

Replies (11)

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By paul.benny
10th Dec 2019 07:53

Why don't you ask ACCA directly? I'm sure they will give you a far more definitive answer than anyone here.

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By mumpin
10th Dec 2019 10:34

I really feel like doing the same but what will you do about mortgage references, passport applications etc

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Replying to mumpin:
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By SXGuy
10th Dec 2019 11:18

most lenders accept an SA302 and Tax year overview, so in my experience its not required.

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By Jekyll and Hyde
10th Dec 2019 11:23

I have considered this also and revert back to renewing my AAT membership, however my thoughts on why I keep ACCA is:

1) Investment activities, I refer to mortgage advisors and always tick this as a standard.
2) AML, I would rather have ACCA then HMRC, ACCA are just not proactive enough, whereas I would not want HMRC scutilising me (not that I do anything wrong).
3) Mortgage reference letters and now rental reference letters.
4) The hope that one day our industry will become regulated in a similar way IFA's did a few years ago.

The cost of ACCA is stupid for what they actually do. Their techincal resources are no where near the standard of ICAEW and their marketing/image does not achieve the AAT's.

It is my opinion that ACCA is a qualification of the past as the AAT is taking over this non ICAEW sector and is growing, whereas ACCA is restracting. I can see ACCA only having another 15 year life span left in UK. I have an AAT qualified member of staff who wants to do ACCA and I keep telling him that there is no benefit, whereas if he wants to develop then perhaps CIOT.

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Quack
By Constantly Confused
10th Dec 2019 11:27

I'm an employee (and if I ever become SE it will be as a side thing at retirement in god knows how many years) so don't need any qualification really. I don't intend to move into an accounts role so no-one would care if I was ACCA.

Anyway, I think my CTA covers most of the things I could potentially need ACCA for, at least on the sort of mortgage forms and official letters that pass through my desk.

I've asked the ACCA but awaiting a reply...

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Replying to Constantly Confused:
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By paul.benny
10th Dec 2019 11:49

Does your employer not pay your subs (have you asked?).

Are you confident that this will be your last job before retirement?
*Some* employers/recruiters verify professional membership. Whilst you can show your original certificate (afaik they don't ask for that back), not being a current member *may* raise doubts.

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Replying to paul.benny:
Quack
By Constantly Confused
10th Dec 2019 13:43

paul.benny wrote:

Does your employer not pay your subs (have you asked?).

Are you confident that this will be your last job before retirement?
*Some* employers/recruiters verify professional membership. Whilst you can show your original certificate (afaik they don't ask for that back), not being a current member *may* raise doubts.

I have never had an employer who pays my subs. My current employer certainly does not.
This may or may not be my last job before retirement (I've a good 30 odd years to go after all) but I have absolutely zero intention of moving back into accountancy (beyond I&Es) and, even if I did, I am now so out of practice I would be a trainee again.
Why would my employer want to verify I am a member of a body I won't claim to be a member of (as I say in my first post, I will not be using my letters once I stop paying for membership)?

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Replying to Constantly Confused:
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By paul.benny
10th Dec 2019 16:46

With the obvious caveat that I know nothing of you but what you've posted here, I'd say that with most of your working life ahead of you, it's a bold decision to discard a professional qualification. A qualification that you worked very hard to get.

But it's your choice, your life.

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By carnmores
11th Dec 2019 13:04

Smile

its 10 years since i gave up my FCA and only once since then have i had to get another account to check my work and sign a reference for a client. i just simply didn't pay my sub end of story . a letter would probably help don't stress about this

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Jennifer Adams
By Jennifer Adams
11th Dec 2019 19:56

Re mortgage references... Santander insist on ACA/ACCA etc.
They dont accept CTA/ATT etc

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Quack
By Constantly Confused
12th Dec 2019 08:31

I'm touched by so much concern, but as I say I'm an employee and have zero intention of ever setting up a practice (and in fact, if I were to set one up, I'd probably need to resign my ACCA membership to do that as I won't find anyone to sign off my practising certificate tick boxes :) ).

I don't sign mortgage letters, the partners do. I don't prepare or audit accounts and haven't in over a decade. If I was made redundant tomorrow I wouldn't even contemplate going it alone. The only non-employee work I ever intend to do is the level of I&Es, and I don't need ACCA for that.

I'd rather have the... roughly £10,000 over my remaining working life and not get a magazine :)

Plus I'm so out of practice with accounts, I should resign just out of professional pride! :)

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