Membership fees have not been increased since March 2007 and before that way back in January 2004. Practice Licence fees were last increased in April 2008, to take into account the new requirements under the Money Laundering Regulations. These fee increases are below inflation rate.
The Institute’s membership fees will rise with effect from 1 January. The new fees will be as follows:
| Registered Student |
£45.00
|
remained the same since 1996 |
| Affiliate Member |
£50.00 |
remained the same since 2005 |
| Associate |
£65.00
|
increased by £5.00 |
| Member |
£71.00 |
increased by £5.00 |
| Fellow |
£90.00 |
increased by £6.00 |
| Additional Letters |
£15.00 |
remained the same since 2005 |
| Certified Payroll Agent |
£60.00 |
New |
Practice Licence
|
£70.00 |
increased by £4.00 |
This means that a full Member in Practice will now pay an annual fee of £141.00, which represents excellent value for membership of a professional body. (ACCA 2010 fees: Membership £181.00, Practice Licence £370)
Announcing the new structure, Institute chief executive, Garry Carter, commented that fees had been held for a long period to assist members in difficult times.
“But it is now right that the fees are increased and that they will in future increase by a small amount each January. The Institute is a professional body and increased recognition means that we need to work differently to achieve our new goals. We have to up our game to the next level.
“We have created a worldwide organisation that is the accepted leader in its field. Our new focus will be on ensuring that employers, customers and clients better understand the huge benefit that using a member of the Institute can bring to their business.”