ESC

Click the "allow" button if you want to receive important news and updates from immigrationboards.com


Immigrationboards.com: Immigration, work visa and work permit discussion board

Welcome to immigrationboards.com!

Login Register Do not show

Ext. Query- Accountant issue

Only for UK Tier 1 (Entrepreneur) points system. This route is now closed to new applicants.

Moderators: Casa, push, JAJ, ca.funke, Amber, zimba, vinny, Obie, EUsmileWEallsmile, batleykhan, meself2, geriatrix, John, ChetanOjha, archigabe

Locked
gt23
Junior Member
Posts: 80
Joined: Mon Nov 11, 2013 10:52 pm

Ext. Query- Accountant issue

Post by gt23 » Wed Dec 28, 2016 12:10 pm

Hi

My accoutant is registered with Acca as an individual. However, his company is not registered. Is that ok with HO?

On unaudited accounts he has his company name. Will i need to change it to his own name?

Is there any proof/ document i need to send to HO to confirm my accountant is certified Acca accountant

Thanks

Jazz2007
Member of Standing
Posts: 254
Joined: Mon Apr 29, 2013 3:59 am

Re: Ext. Query- Accountant issue

Post by Jazz2007 » Wed Dec 28, 2016 2:34 pm

The accounts must clearly show the name of the accountant, the date the accounts
were produced, and how much you have invested in the business. The accounts must be
prepared and signed off by the accountant, who is not you (the applicant), in accordance with statutory requirements.

+1

The accountant must have a valid licence to practise or practising certificate and must be a member of the Institute of Chartered Accountants in England and Wales, the Institute of Chartered Accountants in Scotland, the Institute of Chartered Accountants in Ireland, the Association of Chartered Certified Accountants, the Association of Authorised Public Accountants, the Chartered Institute of Public Finance and Accountancy, the Institute of Financial Accountants, the Chartered Institute of Management Accountants, the Association of International Accountants or the Association of Accounting Technicians.

Accountant must be a member of any of these bodies to Suffice their Requirement.

As you said his Company is not Registered then how can you fulfil this requirement.

gt23
Junior Member
Posts: 80
Joined: Mon Nov 11, 2013 10:52 pm

Re: Ext. Query- Accountant issue

Post by gt23 » Thu Dec 29, 2016 10:24 am

Hi


Thanks for your reply.

My accountant is a member, but his company is not. He will sign off the accounts.

Does his company also needs to be a member of Acca?

Thanks

Jazz2007
Member of Standing
Posts: 254
Joined: Mon Apr 29, 2013 3:59 am

Re: Ext. Query- Accountant issue

Post by Jazz2007 » Thu Dec 29, 2016 11:04 am

Copy of Accountant Practice Certificate will do,
His/Her name and credentials must be Clearly mentioned in Accounts.

ishfaqsangra
- thin ice -
Posts: 866
Joined: Wed Aug 14, 2013 10:10 pm
Pakistan

Re: Ext. Query- Accountant issue

Post by ishfaqsangra » Thu Dec 29, 2016 3:32 pm

My accountant is also member of ACCA,I never searched for their limited company and I think the Global ACCA web gives the option of Member search of Accountancy Firm ,

ishfaqsangra
- thin ice -
Posts: 866
Joined: Wed Aug 14, 2013 10:10 pm
Pakistan

Re: Ext. Query- Accountant issue

Post by ishfaqsangra » Thu Dec 29, 2016 4:02 pm

[quote="syed0083"]The accounts must clearly show the name of the accountant, the date the accounts
were produced, and how much you have invested in the business. The accounts must be
prepared and signed off by the accountant, who is not you (the applicant), in accordance with statutory requirements.

I found this:
Unaudited accounts and an accountant’s certificate of confirmation
Businesses that are not required to produce audited accounts must provide:
unaudited accounts, sometimes called management accounts; and
an accounts compilation report from a suitably regulated accountant who is not you
(the applicant).

It does not say that accounts must clearly show the name of the accountant? which page it is? normally in accounts they mention theri LTD Company and sign .

ishfaqsangra
- thin ice -
Posts: 866
Joined: Wed Aug 14, 2013 10:10 pm
Pakistan

Re: Ext. Query- Accountant issue

Post by ishfaqsangra » Thu Dec 29, 2016 10:32 pm

Do we need accountant name on accounts or their Ltd comoany name and signature underneath would suffice the requirements?

Jazz2007
Member of Standing
Posts: 254
Joined: Mon Apr 29, 2013 3:59 am

Re: Ext. Query- Accountant issue

Post by Jazz2007 » Thu Dec 29, 2016 11:18 pm

If his/her name is not mentioned then how do you prove the Accountant is a Suitably Regulated.

If someone is just signing on behalf of a company then how can anyone figure out who signed it.As you know there are many professions associated with a firm including Accountant.

This is my Understanding, Gurus please correct me if I'm wrong. :D

noajthan
Moderator
Posts: 14911
Joined: Sat Oct 25, 2014 11:31 am
Location: UK

Re: Ext. Query- Accountant issue

Post by noajthan » Thu Dec 29, 2016 11:25 pm

Why not belt and braces - everywhere: name/signature, number/accreditation/registration and company name/stamp.
All that is gold does not glitter; Not all those who wander are lost. E&OE.

ishfaqsangra
- thin ice -
Posts: 866
Joined: Wed Aug 14, 2013 10:10 pm
Pakistan

Re: Ext. Query- Accountant issue

Post by ishfaqsangra » Thu Dec 29, 2016 11:52 pm

Thanks all
Yes absolutely the namd should be mentioned with signature and professional membership no plus company name and stamp.
All my 3 years accounts submitted to HMRC the accountants put their company name and signed but for management accounts and other letters I would get the name on and membership no.along with company details.
Or
Should I request them to add the details on submitted accounts (can add on hard copies to be submitted to home office )although my personal understaning is that above details in leters and management accounts should be enough ? Am I right?

gt23
Junior Member
Posts: 80
Joined: Mon Nov 11, 2013 10:52 pm

Re: Ext. Query- Accountant issue

Post by gt23 » Fri Dec 30, 2016 7:49 am

Thank you everyone for your reply.

Just wanted to check what is the difference between amangement accounts and unaudited accounts?.
What is the difference between two accounts? Do i need to submit both of them

I am oy providing undauditing accounts which shows dirrstors loan and company tax and profit.

Thanks

User avatar
zimba
Moderator
Posts: 19946
Joined: Mon Aug 11, 2014 5:13 pm
Location: UK
Mood:

Re: Ext. Query- Accountant issue

Post by zimba » Fri Dec 30, 2016 9:32 am

Unaudited accounts are prepared per accounting year and submitted to companies house. HMRC, etc
Management/interim accounts are only prepared for the information of directors whenever required.

If your investment is fully covered in the unaudited ones, you do not need management accounts
Advice is given based on my personal research and experience only. Do NOT contact me via private message for immigration advice

ishfaqsangra
- thin ice -
Posts: 866
Joined: Wed Aug 14, 2013 10:10 pm
Pakistan

Re: Ext. Query- Accountant issue

Post by ishfaqsangra » Fri Dec 30, 2016 10:58 am

Can someone suggest :
as Annual Accounts are submitted by my accountants and they signed and stamped under their company name, address etc.( Director is FCCA/ACCA)

I am submitting all three years accounts and management accounts.

Do I need to request them to add the name, and membership no to those 3 years accounts or it will be fine if all that is mentioned in Management Accounts and Supporting Letters(Investment confirmation and job creation)

And if they need to add name and put membership, can that be added additionally on the submitted accounts hard copies.

jafersadeq
Senior Member
Posts: 681
Joined: Sat Jun 20, 2015 1:14 am
Location: LONDON

Re: Ext. Query- Accountant issue

Post by jafersadeq » Fri Dec 30, 2016 3:05 pm

gt23 wrote:Hi

My accoutant is registered with Acca as an individual. However, his company is not registered. Is that ok with HO?

On unaudited accounts he has his company name. Will i need to change it to his own name?

Is there any proof/ document i need to send to HO to confirm my accountant is certified Acca accountant

Thanks

I asked HO before about that case, they said:

I am unable to pre- assess any applications. However as long as the individual preparing the accounts meets the following, they should meet the requirements of the rules.
The accountant must have a valid licence to practice or practising certificate and must be a member
of the Institute of Chartered Accountants in England and Wales, the Institute of Chartered Accountants in Scotland, the Institute of Chartered Accountants in Ireland, the Association of Chartered Certified Accountants, the Association of Authorised Public Accountants, the Chartered Institute of Public Finance and Accountancy, the Institute of Financial Accountants, the Chartered Institute of Management Accountants, the Association of International Accountants or the Association of Accounting Technicians.

noajthan
Moderator
Posts: 14911
Joined: Sat Oct 25, 2014 11:31 am
Location: UK

Re: Ext. Query- Accountant issue

Post by noajthan » Fri Dec 30, 2016 6:35 pm

This basic stuff is all covered in readily-available T1 guidance.
All that is gold does not glitter; Not all those who wander are lost. E&OE.

Locked
cron