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).
If you've just established your new firm, many of you will not even be considering the staffing structure. But should you?
The physical practice
We discuss where to practice from when you start your practice, looking at home, offices, space needed, leases and more!
Your new practice will likely need more than a laptop and a printer to keep you going. Here's advice on hardware and software
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
Quoting and charging
Time to start earning income. You need to set prices that won't put clients off but will make a profit. Here's our advice
Staffing, recruitment and training
If you do need staff, how do you choose between apprentices, sub-contractors and permanent employees?
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)
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
Registering with government agencies and public
Find out who to contact to register with the necessary bodies.
Find out about keeping on the right side of regulation when you start your new practice, including a detailed monitoring FAQ section
We've prepared a series of webinars to help you in setting up your practice. Find out from experts on a range of topics.
If you are just starting up in practice then ACCA has some helpful templates that you can use.
Join a community of like-minded SMPs so you can share with, learn from and inspire each other.