You might be surprised to learn that in the UK, literally anyone can choose to call themselves an accountant – even if all they’ve done is watch a couple of YouTube videos and taken notes. This means it’s important to be vigilant when trying to find an accountant to engage in business, as you want to make sure they’re qualified to do the job and can be trusted with access to your financial records.
Why can anyone call themselves an accountant in the UK?
The term ‘accountant’ isn’t regulated (protected) under UK law, meaning it can legally be adopted by whoever wants to adopt it, regardless of their background or intentions. In other words, you don’t need qualifications to call yourself an accountant.
This is in stark contrast to titles like ‘doctor’ and ‘solicitor.’
The good news, though, is that the titles ‘chartered’ and ‘certified’ accountant are protected, meaning they can help guide you.
A basic rule of thumb when assessing an accountant whose services you might want to enlist is to look for credentials or qualifications listed after their name, within their email signature, or on their LinkedIn profile.
They might not be a requirement for someone to call themselves an accountant, but they still signify experience and expertise, and so should be regarded as an absolute necessity – or the bare minimum – if you want the job done right. Otherwise, you really are rolling the dice.
It’s a good idea to familiarise yourself with the different kinds of qualifications an accountant can have so you know what to look for.
What qualifications should I look out for when hiring an accountant?
There are various qualifications for accountants in the UK, but the six most common that you’re likely to see:
- Chartered Certified Accountant – the letters ‘ACCA’ indicate an accountant has undergone formal training and qualified with the Association of Chartered Certified Accountants. If an accountant has additional qualifications or more than five years’ experience, their letters may change to ‘FCCA’
- Chartered Accountant (England, Wales and Ireland) – members of the Institute of Chartered Accountants in England and Wales (ICAEW), or if they’re from Ireland, Chartered Accountants Ireland (CAI), use either ‘ACA’ (Associate Chartered Accountant) or ‘FCA’ (Fellow Chartered Accountant) after their names
- Chartered Accountant (Scotland) – if an accountant is a member of the Institute of Chartered Accountants in Scotland (ICAS), they will have ‘CA’ after their name, which simply stands for ‘Chartered Accountant’
- Chartered Tax Adviser – an accountant who is a member of the Chartered Institute of Taxation will use ‘CTA,’ ‘FTII,’ or ‘ATII’ after their name
- Accounting Technician – this title is for members of the Association of Accounting Technicians (AAT), who commonly use ‘MAAT’ after their names
- Chartered Management Accountant – an accountant who is a member of the Chartered Institute of Management Accountants will use either ‘ACMA’ or ‘FCMA’ after their name
You might well spot other qualifications which are perfectly valid – these are just the main ones to look out for. If you come across any you’re unsure about, just search for the initials online and verify they’re legit.
Still not satisfied?
If the initials after a person’s name aren’t quite enough to put your mind at ease, you might want to do a bit more digging. Thankfully, many professional accounting bodies and firms have searchable online directories which you can make use of – just search for the accountant you’re looking at and check that they are in fact real and belong to the body/firm they claim to.
And if you’re still not sure (which is perfectly normal), you can also ask for a reference from a previous or existing customer/client of the accountant you’re considering. They should be happy to provide this, and hopefully it gives you the peace of mind you’re after.
Visit our accounting support hub for more help, or to ask a free tax question!
