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from AAT to ICB

  • 3 posts
  • # 117722

Hello, 

I hope someone can help. 

I have finished AAT Level 3 (waiting for synoptic results - out next week). 

I would like to be a self-employed bookkeeper. I already few potential clients. However, with AAT Bookkeeping licence, I cannot do self assessments as an agent, and this is one of the services requested by my potiential clients. 

I have been told that with the qualification I have, I can join ICB, and apply for licence, which covers self assessments. 

Could someone confirm this?

If yes, where do I start? I understand I would have to pay £200 to apply to be a member by excemption. What are the fees later? And when are they payable? I got a bit confused by the information on website. 

Any help greately appreciated x

  • Accredited Training Provider
  • 435 posts
  • # 117731

Hi,

 

Your qualifications should provide you with exemption to MICB level and I'm sure ICB would confirm this is you contact their team directly. However, this alone would not allow you to offer self-assessments as a service and you'd need to consider completing the ICB qualification in this.

 

For details on ICB exemptions follow this link: https://www.bookkeepers.org.uk/Membership/Become-a-Member/Become-a-Member-by-Exemption 

Good luck.

  • Companion Fellow PM.Dip
  • Practice Licence
  • 219 posts
  • # 117755

Hi Oliwia,

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.

Smile

 

  • Member
  • Practice Licence
  • 1 post
  • # 117760

Ami @ ICB said:

Hi Oliwia,

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.

Smile

 


 FANTASTIC feedback, Im so pleased I have read through this. 

  • 3 posts
  • # 117763

Thank you, that helped a lot. 

 

Can I be MICB member, as well as student with AAT? I would love to do AAT Level 3, mailny beacuse of the units it is covering, but at the same time I would like to provide self assessment services, and so need to be memebr of ICB.


Also, can I self study the self-assessment tax? I tried searching for books to self study it, but no luck. 

  • 3 posts
  • # 117764

Oliwia said:

Thank you, that helped a lot. 

 

Can I be MICB member, as well as student with AAT? I would love to do AAT Level 4, mailny beacuse of the units it is covering, but at the same time I would like to provide self assessment services, and so need to be memebr of ICB.


Also, can I self study the self-assessment tax? I tried searching for books to self study it, but no luck. 


 

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