Hi Anon
I had a similar situation when I first applied for a PC in about 2008. I cannot remember the details (and by an odd coincidence I shredded the papers only a couple of weeks ago) but from memory...... I had worked for myself in mergers and acquisitions from 1993 to 2008. It involved a great deal of financial analysis and due diligence exercises in 70 or more deals over that period. ACCA would accept none of that experience for my PC - because I didn't have a boss who could verify my experience if memory serves me correctly. However, they would accept my experience as FD in various commercial businesses between 1985 and 1993. I tracked down my managing directors from that period who wrote to ACCA confirming that the work I had claimed on my application was genuine. And then I sent it off - some 15 to 22 years after I'd gained that experience ! I did speak to the relevant ACCA department about the absurdity of the situation and they suggested that I wait and see the outcome. That outcome was a PC. I came away very irritated with the process and a very strong feeling that the department that made the decision simply needed to tick the boxes including the box that asked if the claimed experience had been verified.
My advice is therefore to help them tick the box and hide your irritation.
Like you, I thought about going with the AAT. It became my back up plan. I didn't need it but I suspect that had I gone down that route I would not have been disadvantaged.
Hi Legerman - Thanks for your very useful response. I'll write to that address. I'm 100% certain that my client has not sent in any SAs for many years and so perhaps HMRC have closed off some earlier years. If I can get the earnings and deductions figures then the SA returns will be a piece of cake and these are bound to show a refund due for each year - because of applying his personal allowances. Do you think he has a realistic chance of claiming a refund for many or indeed any of the previous years?
Thanks again
Strange how we can sometimes ignore our own experiences. It was only after I posted that I always ask "what would happen to our account if you get hit by a bus?" that I 'remembered' that last year that happened to me. OK - not a bus but a large car. Had I been in practice then and had payroll clients I would probably have needed to activate a continuity agreement for a few months.
Andy - that's interesting, and surprising. When I was working in the education sector it was a question I always asked every small provider of services i.e. what would happen if you got hit by a bus. Often the reality would be that in that event there would be no continuity - but I preferred to be aware so that I could decide for myself whether to take that risk. Much of the work I'm targeting will be short term projects where a continuity agreement might not be important. But I also plan to add payroll services and in that regard a continuity agreement would be essential. In any event, I need such an agreement to get a practicing certificate so I'm hoping someone can help
Thanks to all for their input. For the benefit of future generations who might ask the same question here is some additional info / background.
Almost immediately after incorporating in 2017 I gained a public sector client but because of IR35 they were only willing to engage me as an employee so my incorporated business went on the back burner. LESSON Be sure that you are willing to walk away from 'employee' status.
Several months later I was involved in a road accident. LESSON Although I had no clients (because I was an employee) this was an early reminder of the need for a business continuity arrangement
Looking at things again, now that employee status and accident are behind me, I honestly think that at my level of income (projecting £50k in year 2) the admin burden of incorporation outweighs the relatively modest financial benefits. LESSON don't under-estimate the benefit of being a sole trader
As you're not in education (I assume?) I can't recommend any relevant organisations but I can tell you that having used several in that sector a price of about £3.10 per person per payslip (monthly) was the going rate. This included all HMRC returns and the quite complex pension scheme reporting in education - so you might get it cheaper than that
My answers
Hi Anon
I had a similar situation when I first applied for a PC in about 2008. I cannot remember the details (and by an odd coincidence I shredded the papers only a couple of weeks ago) but from memory...... I had worked for myself in mergers and acquisitions from 1993 to 2008. It involved a great deal of financial analysis and due diligence exercises in 70 or more deals over that period. ACCA would accept none of that experience for my PC - because I didn't have a boss who could verify my experience if memory serves me correctly. However, they would accept my experience as FD in various commercial businesses between 1985 and 1993. I tracked down my managing directors from that period who wrote to ACCA confirming that the work I had claimed on my application was genuine. And then I sent it off - some 15 to 22 years after I'd gained that experience ! I did speak to the relevant ACCA department about the absurdity of the situation and they suggested that I wait and see the outcome. That outcome was a PC. I came away very irritated with the process and a very strong feeling that the department that made the decision simply needed to tick the boxes including the box that asked if the claimed experience had been verified.
My advice is therefore to help them tick the box and hide your irritation.
Like you, I thought about going with the AAT. It became my back up plan. I didn't need it but I suspect that had I gone down that route I would not have been disadvantaged.
Many thanks to Basil who has provided very useful advice privately. Thanks also to the several on here who have responded with helpful insights
Hi Refs1. Yes - I'd love to pass this to someone more experienced than I am -but I'm the only one my client will work with. Useful advice - thanks
Hi Legerman - Thanks for your very useful response. I'll write to that address. I'm 100% certain that my client has not sent in any SAs for many years and so perhaps HMRC have closed off some earlier years. If I can get the earnings and deductions figures then the SA returns will be a piece of cake and these are bound to show a refund due for each year - because of applying his personal allowances. Do you think he has a realistic chance of claiming a refund for many or indeed any of the previous years?
Thanks again
Strange how we can sometimes ignore our own experiences. It was only after I posted that I always ask "what would happen to our account if you get hit by a bus?" that I 'remembered' that last year that happened to me. OK - not a bus but a large car. Had I been in practice then and had payroll clients I would probably have needed to activate a continuity agreement for a few months.
Andy - that's interesting, and surprising. When I was working in the education sector it was a question I always asked every small provider of services i.e. what would happen if you got hit by a bus. Often the reality would be that in that event there would be no continuity - but I preferred to be aware so that I could decide for myself whether to take that risk. Much of the work I'm targeting will be short term projects where a continuity agreement might not be important. But I also plan to add payroll services and in that regard a continuity agreement would be essential. In any event, I need such an agreement to get a practicing certificate so I'm hoping someone can help
Andy
Both. Even if I were not concerned about protecting my clients, they will be.
Thanks to all for their input. For the benefit of future generations who might ask the same question here is some additional info / background.
Almost immediately after incorporating in 2017 I gained a public sector client but because of IR35 they were only willing to engage me as an employee so my incorporated business went on the back burner. LESSON Be sure that you are willing to walk away from 'employee' status.
Several months later I was involved in a road accident. LESSON Although I had no clients (because I was an employee) this was an early reminder of the need for a business continuity arrangement
Looking at things again, now that employee status and accident are behind me, I honestly think that at my level of income (projecting £50k in year 2) the admin burden of incorporation outweighs the relatively modest financial benefits. LESSON don't under-estimate the benefit of being a sole trader
Thanks again to those who responded
As you're not in education (I assume?) I can't recommend any relevant organisations but I can tell you that having used several in that sector a price of about £3.10 per person per payslip (monthly) was the going rate. This included all HMRC returns and the quite complex pension scheme reporting in education - so you might get it cheaper than that
I will plead with the moderators that they will show leniency to you and not cast you out into the darkness. But only if you give me a discount.