Melvin Thevarajan

From 2025 You Will Be Able to Become a Chartered Accountant Without a Degree With the shortage of Accountants expected to be at 58,000 by 2033, the Institute of Chartered Accountants has announced an apprenticeship like training scheme that will allow people wanting to become Accountants to learn by working on the job, instead of taking the current route of a university degree. It could be argued that lowering entry requirements could dilute the profession’s standards and diminish the University qualifications already earned by past graduates, but I think this is a smart move for the CA and its members, with firms finding it increasingly hard to attract Graduates to the industry. In an article for the AFR, Euan Black spoke with Rob Dunderdale (Head of Talent Attraction at KPMG Australia) who said employees recruited through this type of program tended to “stay longer and generally progress faster through our organisation. They spend time with our business, they get to build connections quickly, and they understand how we work.” A traineeship system like this emphasizes the value of practical experience over academic qualifications that can be expensive and time-consuming. People can gain exposure to the profession before making such a big commitment and it can counteract the appeal of much larger Graduate salaries that can be earned in other industries. Is the new Traineeship Program a good idea or should the CA stick with the current University requirements to undertake its qualification? Let me know your thoughts in the comments below. #ALRARecruitment #CharteredAccountants

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Final weekend before exams, please make sure you..... DO THAT MOCK EXAM! ⏳️ And if you haven't yet tried the one that the ACCA themselves have given you.... then you know what to do! 💻 Your final exam rehearsal - aim to do it ideally about a couple of days before your actual exam. Yes, it does make a difference! Trust me (you know, I'm always right! 😉) #accaexams #accastudents #students #exams #revision #acca #aca #accountancy #accatips #exampreparation #studywithme #apmwithbri

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ACCA JUNE EXAM RESULTS ARE IN Pass rates have been announced by ACCA for students who sat their exams in June 2024. In all some107,506 entered for the June sitting, which saw 124,727 exams completed. Alan Hatfield, executive director – content, quality and innovation, said: “As we reach the midpoint of the year, I’m delighted to see such a strong set of results and would like to congratulate the students who have achieved success in this session."   ACCA JUNE 2024 PASS RATES Applied Knowledge: BT 89%; FA 68%; MA 68% Applied Skills: LW 79%; PM 42%; TX 55%; FR 51%; AA 44%; FM 48% Strategic Level: SBL 52%; SBR 49%; AFM 46%; APM 37%; ATX 47%; AAA 37% For a full analysis of the June pass rates read the new issue of PQ magazine – out tomorrow – see www.pqmagazine.com #acca #accaglobal #accastudents #accaexams #accatips

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A massive congratulations to ICAEW students who passed their final exams yesterday and are now ACA qualified.   For those who didn’t quite get there this time sorry and best of luck next time, rest assured many of my most successful and senior clients do not have first time passes. 🤔 We understand for many this is a time of review and reflection, assessing your long term career goals. I would advise not to jump into a new 'job' in your firm or elsewhere, invest time in setting a career vision and plan, then start to work towards this. 🤯 This is an exciting time, but can also be a little overwhelming, and it is important you have the right conversations with trusted advisors and mentors before taking action. 🤝 If you are in a position in which you are looking to have a career conversation and set career goals, please do reach out. At Hays we have over 100 Senior Finance consultants across UKI and we cover all sectors and job types in Finance. 📖 For those who are looking for more guidance regardless of your results look no further. The updated Hays 'Journey Ahead Guide' for newly qualified accountants has just been launched, it gives a comprehensive overview of the different career options that can be perused as a qualified accountant. If you would like a copy please email or message me. [email protected] #aca #newlyqualifiedaccountant #journeyaheadguide Matthew Freegard Micala Angel Debbie Stent Matthew Davies Victoria Birch Louise Bridge Cara Whyte Stephen Pyle Edward Hampson Nic Cowley Mathew Donnelly Catherine Hubbard Natasha Illingworth Molly Smyth Karen Young FCICM Lydia Baxter

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Expertly navigating the UK financial landscape with precision and care. Trust Monetics for all your accounting and advisory needs. 📊🇬🇧 #Monetics #AccountingExperts #FinancialAdvisory #UKBusiness

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Hot Tip for Passing ICAEW ACA Exams 🔥 I recently realised that not everyone knows about this hidden gem on the ICAEW website, and I had to come on here and share! ICAEW offers sample assessments in the actual exam software—essentially mock exams that reflect the real thing. They’re so good for getting a taste of the real exam. Login to ICAEW, go onto the module you are studying for and you should be able to find them there. I highly recommend using these assessments before your exams, in particular saving them for the weekend before the real exam. They can make a huge difference on exam day so do definitely add this into your study plan! If you are in need of a study plan and enjoy Notion, this is for you: https://lnkd.in/etNczVhH #ad #ICAEW #ACATips #ExamSuccess #StudyHacks #ICAEWExams #CharteredAccountant #MockExams #StudySmart

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At 35, I remember the massive push from my sixth-form towards university as the ultimate route to success. But I took a different path. I chose an AAT apprenticeship, then became ACCA qualified, and I couldn't be prouder of what I've achieved. The journey wasn't without its challenges. Balancing work and study was tough, and there were times when I doubted my decision, especially seeing friends enjoy the university life. But the hands-on experience I gained was invaluable. I learned practical skills on the job, built a professional network early on, and avoided the burden of student debt. Apprenticeships are a brilliant alternative to traditional university degrees. They let you learn while you earn, gaining practical experience without the financial strain. In my experience, apprenticeships provide invaluable hands-on skills and a direct route into the workforce. Reflecting on my journey, I realise how crucial it is to have diverse pathways to success. Not everyone thrives in a university setting, and that's okay. My apprenticeship shaped my career and life in ways I couldn't have dreamed of, and I'm grateful for the opportunities it provided. 🚀

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Great tip if your sitting advanced audit and assurance this exam round! 💡 Do not let the syllabus size of AAA fool you into a false sense of security that it is a breeze 😅- this exam is notoriously one of the more technically difficult ones, with a consistent low(est) pass mark so make sure you are well prepared ☺️👩🏻‍🎓🧑🏻‍🎓 #ACCA #septemberexams #AAA

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Director's Loan Account: Friend or Foe? The Tax Trap That Could end up costing you. ------- Understanding the Director's Loan Account: A Must-Know for UK Business Owners. The Director's Loan Account (DLA) is one of the most misunderstood areas of small business finance, yet it’s crucial for avoiding unexpected tax bills and staying compliant with HMRC rules. If you're a company director, understanding your DLA is not optional—it’s essential. Here's why: ✅ The Benefits of Managing Your DLA Properly: 1. Cash Flow Flexibility: It allows directors to temporarily borrow from or lend to the company. 2. Clear Record-Keeping: It separates personal and business transactions, ensuring your accounts stay clean and compliant. 3. Tax Efficiency: Proper management helps you avoid unnecessary penalties and makes year-end smoother. ⚠️ Top Mistakes Business Owners Make with the DLA: 1. Not Recording Transactions Accurately: Every penny borrowed or repaid must be logged. A lack of detail can cause compliance headaches. 2. Overlooking the £10,000 Rule: Loans over £10k can trigger Benefit in Kind (BIK) tax unless interest is paid. 3. Missing the 9-Month Deadline: If the loan isn’t repaid 9 months after year-end, a hefty Section 455 tax charge of 33.75% kicks in. 4. Confusing Salary, Dividends, and Loans: Misclassifying payments can lead to inaccurate reporting and surprise tax liabilities. 🛠️ Pro Tip: Regularly reconcile your DLA and work closely with your accountant to avoid crossing the red line with HMRC. Understanding your Director's Loan Account isn’t just about compliance—it’s about peace of mind, tax efficiency, and keeping your finances watertight. What’s your biggest challenge with managing the DLA? Share your thoughts below! 👇 #SmallBusinessTips #DirectorLoanAccount #TaxAdvice #Accounting

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Studying ACCA APM? Then here is a tip for the day. Quality is a topic that is important in the APM exam. If poor old Phil Mickelson here (a golfer) didn't have quality waterproofs then he'd be in trouble. And wet. In the exam, though, it is very important to make sure you think carefully about what quality is within the scenario presented by the question. How would you define quality as far as a golfer's clothing is concerned? The easy answer is that they must be waterproof, and not merely water resistant. However there might be other aspects: * Stylish - who likes to look scruffy after all? * Easy to put on and take off - rain isn't a constant is it, and so a golfer is often changing their attire mid round * Comfortable - golf is hard and so you must be able to move freely in your clothing. So don't be vague when taking about quality in the APM exam. Be specific, always. Affordable quality in a digital world... (quality here = great notes, fantastic support, awesome feedback - in case you're wondering) Package course for December 24 is now closed and sold out, but spaces available for revision and mock. March 25 courses still available. Go to FMELearnonline.com (online college of the year 2024)

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Important Update for UK Non-Doms 📢 From 6 April 2025, it’s looking likely that major changes to the tax regime for UK residents who are non-UK domiciled are coming. The proposed changes will see significant shifts, affecting income tax, capital gains tax, and inheritance tax. Check out Amy Robins’ article which explores: - What the current rules are  - What is being proposed  - Who will be impacted by any changes It's crucial to start prepping for any changes now - especially around record keeping, account segregation, and unremitted funds. Read the article here 👉 https://lnkd.in/eK3p2DnH Cooper Parry #TaxPlanning #NonDoms #InheritanceTax #CapitalGainsTax

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ACCA students - needing some help with CGT reliefs? Here’s my latest YouTube video on the basics of rollover relief, one of the most frequently examined CGT reliefs. #acca #accastudents https://lnkd.in/ej9-iHjC

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CALLING ALL INVESTORS 📢 Give my article a read, you WIll find it helpful! CGT: HOW TO CORRECTLY CLAIM CAPITAL LOSSES   With the Capital Gains Tax (CGT) annual exempt amount having dropped to just £3,000 from April 2024, it’s essential to maximise your tax relief by properly claiming capital losses.   What You Need to Know 🔍   - Claim on Time: You have 4 years from the end of the tax year to notify HMRC of a loss. - Offset Smartly: Losses reduce current-year gains first, with remaining losses carried forward for future years. - Negligible Value Claims: Even assets that become nearly worthless can be used to realise a loss without selling. - Share Loss Relief: Certain share losses may be offset against income tax for even greater savings.   Read the full article to learn how to claim capital losses effectively. https://lnkd.in/e7_wu5Qc   #CapitalGainsTax #TaxPlanning #CapitalLoss

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In October 2024 we will be updating the ‘MyACCA’ portal with a refreshed look for members and ACCA regulated firms which will include a new login process to firm accounts. In mid-October, the existing login process will be removed, and contact partners will need to use their ACCA Member ID to log in to their firm’s account. Contact partners will have the ability to add administrators or additional users to the account and instructions as to how to do this will be shared closer to the time. Each additional member associated with the firm will also need to use their individual member ID to access the account. The refreshed portal will also improve customer self-service options including: ⚡Contact hub: the new contact hub within your ‘MyACCA’ portal will be your go-to place for queries. Here, you’ll be able to search and find information to direct you to the answers and support you need. ⚡Raise a case: if you can’t find the information you need from our knowledge base or need extra help, instead of emailing or phoning us, the quickest way to resolve a query is to message us directly from within the portal – known as ‘raising a case’. You’ll then be able to respond to, and interact with, the team managing your case all in one place. You’ll also be able to upload documents and track the progress of your query. ⚡Functionality changes: you’ll be able to complete admin tasks within the updated portal, including making payment of licences and regulatory fees, paying invoices, seeing balances, printing documents and managing the firm portal account. All of the current features, including the ability to view and download certificates, will remain and will have a refreshed feel. To ensure we can enable your access to your firm account please ensure your contact details (email) are up to date. If we are not able to contact you, you will not be able to access your firm account. We will be sharing a reminder update with some guidance documentation on how to add additional users during October 2024.

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💥 Accountancy candidates – what clients hate to see on a CV! 💥 I’ve been in recruitment for about 25 years now- ‘you can't be old enough,’ I hear you scream. 😲 😁  Long enough to have a fair idea of what clients love and loathe on a candidate’s CV. Remember you want your CV to be easy to read, to be easy on the eye, and to be easy to extract relevant information from. This is even more important when the market is sluggish, as competition for roles will be increased. LOATHES ✖️ Everything crammed into 2 pages because that's what you've heard is best, but in reality makes your CV unreadable ✖️ Long paragraphs of uninterrupted prose ✖️ Generic Profile sections focusing on soft skills that could apply to anyone and provide very little, if any, useful information about you ✖️ Fancy lay-outs ✖️ Photographs ✖️ PDFs ✖️ Something resembling 'War & Peace' ✖️ All of your GCSE or O Levels listed with grades (you're 50 and a Head of Audit, so the relevance of your Woodworking GCSE is questionable) I hope that helps. I'd also strongly recommend 'front loading' your CV. Make sure the 1st page wows the reader as if it doesn't they may not read any further. Ensure everything on that 1st page is relevant to the job you're applying for (so almost certainly not your Education for starters). Good luck. 😉

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👉 Interview prep? At Huntress Accountancy and Finance we always hold a pre-interview meeting with our candidates. Whether it's for a temporary role or something long term. It gives us a chance to help candidates articulate their experience in the best light. Plus is give us an opportunity to recap on the role, the business and any questions candidates might have. I’ve noticed that many candidates find this kind of insight incredibly valuable during the process. What’s your thoughts? Do you think interview prep makes a difference, even for temporary positions? #recruiting #interview #interviewprep

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With a number of accountancy students attaining their professional qualification in the next 2 weeks here are my 5 tips on how to renegotiate your salary with your employer after you get your qualification. 📜 Do your research: Before approaching your employer, research the market rate for qualified accountants in your area of expertise and with similar experience. Use resources like salary surveys from professional bodies like ACCA , recruitment companies, you can check out our up to date salary survey at https://lnkd.in/evG5_TNq or job boards to get a clear idea of the going rate. 📜 📈 Highlight your value: Make a list of your accomplishments and contributions to the company. This could include exceeding performance targets, taking on additional responsibilities, or streamlining processes that saved the company money. Quantify your achievements whenever possible with metrics or data. 📈 👍 Be confident and professional: Schedule a meeting with your manager to discuss your salary. Be clear and upfront about your intentions and why you believe you deserve a raise. Use a professional tone and focus on the value you bring to the company. 👍 👨‍🎓 Be prepared to negotiate: Don't expect to get your ideal raise right away. Be prepared to negotiate and have a realistic target salary in mind. Use your research on market rates and your accomplishments as leverage during the discussion. 👨‍🎓 💥 Consider alternative benefits: If a significant pay rise isn't feasible, explore other forms of compensation that might be valuable to you. This could include additional paid time off, flexible working arrangements, or contributions to professional development courses. 💥 By following these tips, you can increase your chances of successfully renegotiating your salary after obtaining your professional accountancy qualification. Remember, it's important to be confident, professional, and focused on the value you bring to the company. #ACCAexam #brightwatersalarysurvey #accountancyjobs

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