The AIA practising certificate allows members to operate in public practice in the UK and Republic of Ireland; sign or generate reports, accounts, certificates or tax returns concerning any person’s financial affairs, whether you are an unincorporated body, sole trader or a firm.
AIA offers unparalleled support services to help small and medium sized practices work, evolve and grow. All of our members in practice have access to the right information, support and guidance to ensure they operate a successful practice and adhere to all the necessary regulations.
EXTENSIVE RECOGNITION TO SUPPORT YOUR FIRM
MONEY LAUNDERING REGULATIONS 2017
AIA supervises practising members for the purposes of the Money Laundering Regulations 2017, where the AIA is listed in schedule 1 as an approved regulatory body. The Regulations aim to have the most appropriate and proportionate measures to deter, detect and disrupt money laundering and the financing of terrorism.
INDEPENDENT EXAMINATION OF CHARITIES
AIA is included in the Charities Act 2011 in the list of bodies whose members are able to act as independent examiners for the accounts of charities with an annual income of up to £500,000.
BANKS AND BUILDING SOCIETIES
AIA members are recognised by all the major UK banks and building societies as being eligible to sign the accounts of clients seeking finance and mortgages. For the comprehensive list, please click here.
ATOL REPORTING ACCOUNTANTS' SCHEME
AIA members are eligible to register under the ATOL Reporting Accountants' scheme. The scheme is designed to ensure that designated accountants of participating bodies are sufficiently knowledgeable about both the industry and specific requirements of ATOL to provide the required assurance needed by the CAA.
AIA members in practice in the UK are licensed to instruct barristers directly. The licence holder can instruct any member of the Bar for advice, and in some circumstances representation, on their own behalf or another's behalf in the specialist area. The Licence permits AIA UK practising members to instruct the Bar directly for advice and for representation before the County Court, Crown Court, Magistrates Court, First-Tier Tribunal Immigration and Asylum Chamber, First-Tier Tribunal Tax Chamber, Upper Tribunal Immigration and Asylum Chamber and Upper Tribunal Tax and Chancery Chamber. A copy of the Licence is stored in the AIA Secure Document Library in the 'Members in Practice' section and must be sent to counsel with each set of instructions.
UK VISAS AND IMMIGRATION
AIA is recognised under UK Visas and Immigration guidance allowing members to provide accountants' evidence for Tier 1 (General) immigration applications and are also included in the policy guidance for Entrepreneurs coming to the UK under Tier 1 (Entrepreneur) of the Points Based System. For the full guidance for Tier 1 (Entrepreneurs) please click here and for the full guidance for Tier 1 (General) click here.
FINANCIAL CONDUCT AUTHORITY
AIA is recognised under Financial Conduct Authority (FCA) rules allowing members to sign a high net worth exemption statement.
Under articles 60H and 60Q of the Regulated Activities Order, agreements with high net worth individuals are exempt from regulation, subject to certain conditions. One of these conditions is that a statement of the person’s income or assets be made in accordance with Financial Conduct Authority (FCA) rules. The relevant rules are set out in Appendix 1 to Consumer Credit Sourcebook (CONC), and CONC App 1.4.3R specifies that the statement must be signed by the lender or owner (subject to App 1.4.4R) or by an accountant who is a member of any of the bodies listed or of a professional body for accountants established in a jurisdiction outside the United Kingdom.
Further details can be found in the FCA Handbook by clicking here.
NATIONAL APPROVED LETTING SCHEME
AIA members are recognised by the National Approved Letting Scheme for the signing of NALS Accountant's Report.
UK/SWISS TAX AGREEMENT
AIA is included as a relevant professional body per Article 4(1) of the UK/Swiss tax agreement, which states: "A Swiss paying agent may only accept a relevant person as a non-UK domiciled individual when provided with a certificate produced by a lawyer, an accountant or a tax adviser who is a member of a relevant professional body confirming that the relevant person is not domiciled within the United Kingdom and has claimed the remittance basis of taxation for the relevant tax years."
AIA has teamed up with Tolley to give members access to the UK’s largest source of accountancy and tax information, as one of the many benefits of holding an AIA practising certificate.
The bespoke package includes access to the interactive Tax Library and Tolley Online Seminars and is included as part of the AIA membership fee. Members can browse and search the following titles, which are updated daily to reflect the latest changes, get alerts to help spot new business opportunities and obtain the latest tax information to confidently deal with your clients’ needs.
- Whillans Tax Tables
- Tolley’s Tax Guide
- Tax Computations
- Tolley’s Tax planning for OMB
- Tolley Income Tax
- Tolley’s Estate planning
- Tolley's Yellow Tax Handbook
Tolley Seminars Online is a monthly programme of eight to ten short lectures on the latest issues and developments in personal and business tax as well as quarterly accounting and auditing updates. The online platform automatically logs your CPD activity, giving you an accurate and accessible record of your hours.
AIA tax cards are issued annually, as an easy way for members to access the latest rates and allowances.
AIA's quality assurance programme, along with our disciplinary process and CPD requirements gives your clients confidence they are putting their business in safe hands. The quality assurance process is an opportunity for you to work with our quality assurance advisors to receive personalised advice and guidance on best practice, compliance and new ways to develop your practice.
All AIA members in practice have access to a library of documents providing you with the most up-to-date templates for engagement letters, disengagement letters, continuity agreements, everything you need to make it easy for you to run your practice effectively and in line with current guidance.
GUIDANCE AND RESOURCES
The latest practice news and guidance direct to your inbox, as well as regulatory, legal and business news and to help you with your anti-money laundering compliance we offer free access to policy templates and risk assessments through our compliance software.
To see other member benefits and offers, click here.