This resource is aimed at our members in the UK that have already obtained a practising certificate (or are in the process of obtaining one) and are now looking at the practical aspects of starting a practice.
If you are thinking of starting a practice but have not yet obtained a practising certificate, please visit our practising certificate page.
A good starting point is this series of articles by ACCA member Caroline Harridence:
- What are the regulatory aspects and considerations of starting your own accounting firm in the UK?
- From engagement letters to AML and data protection, there's a host of areas to address when setting up a new practice
- An overview of the core systems which are a key component of any accounting firm
- What's going in your tech stack at the start?
You should have a strategy for your practice from the outset - we have a series of five podcasts on strategic thinking for practitioners that will help you with this. Listen to this series.
You'll also need to think about marketing and we have a series of podcasts in collaboration with PracticeWeb covering topics such as how to market on a budget. Listen to this series.
And have a look at our Resources page for information about the latest offers from our partners. The most recent addition is an offering from Sage - every new ACCA practice will receive access to Sage products free for six months (terms and conditions apply).
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Practice structure
If you've just established your new firm, many of you will not even be considering the staffing structure. But should you?
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The physical practice
We discuss where to practice from when you start your practice, looking at home, offices, space needed, leases and more!
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IT considerations
Your new practice will likely need more than a laptop and a printer to keep you going. Here's advice on hardware and software
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What's in a name?
We've pulled out information on naming regulations from ACCA's Rulebook. Here's the do's and don't's to get you started
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Quoting and charging
clientsTime to start earning income. You need to set prices that won't put clients off but will make a profit. Here's our advice
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Staffing, recruitment and training
If you do need staff, how do you choose between apprentices, sub-contractors and permanent employees?
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Building up a client list
Access links to relevant webinars and get advice on how to find clients (as well as the issues to be aware of if you're considering buying a practice)
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Engagement letters
Find out all about engagement letters and purchase a bank of templates to help your practice. Also available: free technical factsheet with engagement letters for tax practitioners
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Registering with government agencies and public
bodiesFind out who to contact to register with the necessary bodies.
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Practice regulation
Find out about keeping on the right side of regulation when you start your new practice, including a detailed monitoring FAQ section
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Webinars
We've prepared a series of webinars to help you in setting up your practice. Find out from experts on a range of topics.
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Useful documents
If you are just starting up in practice then ACCA has some helpful templates that you can use.
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Practice Connect
Join a community of like-minded SMPs so you can share with, learn from and inspire each other.