Ami @ ICB said:
The ICB Practice Licence can indeed cover you for Self Assessment Tax Returns but only if you have the corresponding ICB qualification in Self Assessment Tax (or an exemption from it).
ICB differs from AAT in this respect as we have just one Practice Licence at £150 per year which covers our members for all of the services they are qualified in. This means it can cover you for Self Assessment Tax, Corporation Tax, Management Accounting, Accounts Preparation for Limited Companies.
At this time AAT limits its practising bookkeepers to just five services (none of the above services are included) and if you want to offer further services you need the Accountant Practice Licence which is £289 per year.
Here at ICB we've been supporting self-employed bookkeepers for 23 years and we are absolutely passionate about it. We are here to help you succeed and raise the profile of ICB Bookkeepers on a global level. We run over 200 events a year in the UK, inclusing the annual Bookkeepers Summit, and lots of friendly and supportive local meetings run by our branch network of dedicated and fabulous members. We'd love to help you set up and grow your business and we'll be on hand with moral, technical and legal support!
There is a £200 application fee to apply to ICB for membership by exemption (ie. without taking any more exams) and then an annual membership fee to pay once you've been granted exemptions. The annual membership fee depends on the level of membership you get and it's between £115 and £170 per year.
If you have completed AAT Level 2 and 3 qualifications within the last 5 years you should be able to join ICB at MICB grade by exemption (ie. without taking any more exams). The annual fee is for this grade is £125 which you pay once you have received your membership invitation letter.
Similarly there is an application fee for the Practice Licence (£50) followed by an annual fee (£150). So, just to clarify:
Membership by Exemption:
One-off Application fee: £200
Annual Membership Fee: £115-£170
Practice Licence (including AML Supervision):
One-off Application fee: £50
Annual Membership Fee: £150
Please don't hesitate to get in touch with the ICB team on 0203 405 4000 if you have any other questions.
FANTASTIC feedback, Im so pleased I have read through this.