Have you joined the Tax Faculty yet?

If you are reading this Newswire, you probably have at least a passing interest in tax and maybe we can tempt you to take a closer look?

We spoke to one of our newest members who recently started her own business and was surprised when she saw how much was on offer.

The Tax Faculty is a key part of ICAEW but its importance and benefits are undoubtedly underused by many ICAEW members, especially those who are not in public practice. Having recently launched my own business targeting small business owners, I started to look at the Tax Faculty.

As an FCA, I had never previously considered joining as my career to date had been spent in commercial and industry environments. I had therefore dismissed the Faculty as very much irrelevant to my needs and assumed it was for those who worked in general practice only and who had frequent dealings with HMRC. I almost considered the Faculty ‘old school’. How much I was missing.

Despite the fact I now have my own accountancy business, I do not act as a specialist tax adviser but outsource that work to preferred partners. Despite this, I have found membership of the Faculty invaluable. Membership has given me access to an invaluable knowledge base, dealing not only with current issues but looking ahead to those areas potentially expected to create possible future problems to business. This means that I’m well-equipped to give clients a good overview of the current taxation climate on a variety of issues and this allows them to be proactive, rather than reactive, in making business decisions and seeking further specialist advice. It allows business to plan in a controlled and effective manner, maximising their current and future profitability;

The Faculty is dynamic, relevant and at the forefront of current business and economic issues. It interacts with and makes representations to a number of Government departments (including HMRC, Treasury and Parliament itself) on a wide range of taxation issues. This is indicative of how well regarded the Faculty is (and ICAEW members in general) in wider legislative circles and the importance that external bodies place on the opinions of the Faculty itself and ICAEW in general

 For full details of our spring offer and how to join please visit www.icaew.com/jointf.