The Professional Contractors Group (PCG) has launched an accredited accountant scheme which aims to help freelancers select an accountant by identifying and promoting those who have been given additional and specialist training in freelance-specific issues.
The scheme, called PCG (QA), for 'Quality Accountant' has been developed and delivered in association with Accountax Consulting Ltd. The scheme will involve strict entry criteria and a rigorous application process, a two-day training programme covering specialist topics such as IR35 and S660A, a marked assignment and an annual assessment which will take into account feedback from PCG members.
The scheme is the third in PCG’s portfolio of quality initiatives designed to help freelance businesses gain a competitive advantage.
The PGC says that the introduction of the scheme reflects the importance that its members and other freelance business owners place upon choosing an accountant. Over 88 per cent of respondents to PCG’s membership survey in 2005 said that they turned to their accountants for business advice. According to the survey, respondents’ choice of accountant was influenced primarily by recommendations, followed by contractor experience. Price featured only in third place.
Seventy per cent of the respondents wanted a scheme for identifying accountants who had received additional training on contractor-specific tax and accounting issues and had a good understanding of how freelance businesses operate.
“We have introduced PCG (QA) in response to the clear and compelling demand from members to identify those practices most likely to meet their need for trusted and credible accountancy advice," noted PCG chairman Simon Juden .
"They will in future have the reassurance that accountants accredited by PCG will have received relevant and up-to-date training in freelancer-specific issues. Accredited practices will be able to display the PCG (QA) logo on their marketing materials, and will have the chance to offer contractor clients the benefit of our highly rated tax protection policy, bundled as part of PCG membership, should they wish to introduce them as members," he added.
Dave Smith of Accountax Consulting Ltd added that:
"This is good for freelance businesses, obviously, but it also offers a range of valuable benefits to participating practices, including the accrual of continuing professional development (CPD) points for participants and a host of valuable marketing opportunities.”
The PCG is a representative group for Britain's freelance community with a particular emphasis on helping contractors overcome complex tax issues.
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