CIMA MiP newsletter Winter 2013

MEMBERS IN PRACTICE NEWS

Winter 2013

e , M iP s im t t s ir f Fo r t h e ogether t r e s lo c g a r e w o r k in more. t o a c h ie v e

Hello again everybody In this edition I want to start off by reminding you to stay in touch with each other and what can be achieved by doing so. Please remember to join our LinkedIn groups: CIMA Members in Practice and or CIMA MIP Girls to keep you in touch with me and your fellow MIPS. You can also find out about two new initiatives that are going on just now, if you want to know more you will have to join.

For the first time, MiPs are working closer together to achieve more, and you may be interested to know that there are two new websites up and running which are designed to help generate work for all CIMA Members in Practice. Yourmanagementaccountant was originally designed by MiPS in South East England but is now being rolled out nationwide. Importantly, anybody in the whole of the UK (and very soon in Ireland) will be able to find a local cimaaccountant in their area. cimaaccountant.com is a blog

by Steve Bickell, who is a good friend to the MiP community. The site allows MiPs to contribute their own blogs, sharing experiences and advice.

These are both fantastic initiatives and I would like to thank all the people involved in these sites. Please log on and see for yourself.

Welcome

to the second edition of MiP News, edited by yours truly. For those of you that have not met me, I am the CIMA contact for all things MiP, working closely with the MiP Panel. I create the newsletter you see before you, co-ordinate the MiP events and generally assist the MiP Panel with their day-to-day work with CIMA members in practice.

We also have a programme of regional meetings underway; the next one is on Saturday 3 of November. If it’s near you, please try to go along, the event is free and will be worth the trip. Look for full event details on the CIMA website, LinkedIn and indeed by email from CIMA. By attending the regional meetings and registering on LinkedIn yourmanagementaccountant and cimaaccountant you will help to create a solid MiP network and beneficial partnerships.

Speak to you all soon

Stephen Milne Chairman, MiP Panel

Should you have questions or queries you can contact me on 020 8849 2207 or georgia.stephanou@cimaglobal.com

d I look forwar u o to meeting y

Georgia Stephanou Editor, In Touch In Tune

Get in touch

CIMA MiP

We want to hear from you. Email us at: georgia.stephanou@cimaglobal.com

Challenges and opportunities

Your next opportunity: from where will it come?

That accountants have in serving the interests of small businesses

by John Niland

The International Federation of Accountants has come up with an article to help support our members, in particular, those who operate in smalland medium-sized practices (SMPs). The article, 7 Tips for Accountants on Supporting the Globalization of Small Business discusses the rapid increase in international activity among small businesses and the implications for the SMPs that serve them. It shares tips from the Edinburgh Group (EG)’s recently published report, Growing the Global Economy through SMEs.

Despite all the talk about social media, our best opportunities still come through direct dialogue with our clients.

The professional who said these words to me recently is a seasoned business developer: one of the best that I know. Over the years, he has spent significant sums on marketing and social media. He knows what it’s like to face an uncertain future, with many mouths to feed yet each time that we speak, he is optimistic. ‘Something always turns up’, he says, usually with a grin. And I believe him... because every hour of every day, he is in conversation with someone. No wonder ‘something always turns up’.

I probed further: what tools does he use to start conversations? ‘Of course, I use email,’ he replied. ‘I also connect with people through LinkedIn, and sometimes start conversations there. Often, I bump into people, either at events or even online’.

One of his favourite questions is simply ‘How’s business?’ He’s genuinely curious about the answer; it’s not just a preamble to sell them something. On many occasions, there is nothing to sell, it’s just a matter of listening and staying in touch.

For the past few months, I have been studying the conversation habits of really successful business developers. The more I learn, the more there is to learn. I’ve tried to compile the learning so far into a short eBook, with an interesting contribution from Peter Smith, representing the viewpoint of the purchaser.

Resources

A draft version of the eBook is now available; you can download ‘Opportunity Conversations’ from www.vco-global.com

IFAC’s website hosts a range of resources and tools to help SMPs implement these recommendations. These resources and tools help SMPs enhance their practice management and build their capacity to offer business advisory services. See Resources and Tools in the SMP area of the IFAC website (www.ifac.org/SMP) and the SMP Committee’s Delicious page, which features bookmarked links to relevant free resources (filter by Practice Management [especially Module 2 on networks] and Business Advisory).

John Niland © John Niland - Sept 2013, www.vco-global.com

To receive the SMP e-newsletter you must first register with the IFAC by clicking here

We are continuing to research ‘opportunity conversations’. Specifically, we want to try to understand how some people cultivate opportunity wherever they go, while others really struggle. The eBook captures two of the best ‘opportunity conversations’ to date; we are on the lookout for more.

InTouch, In Tune | Winter 2013

Get in touch New ethics CPD e-learning tool: Keep your reputation intact Imagine that business is slowing down and your client is putting you under pressure to present more optimistic forecasts – and offering you an incentive to do so. Would you know what to do? A recent CGMA survey showed that three quarters of financial leaders globally are placing more focus on reputational risks today than in previous years, underlining how acting ethically is fundamental to professionalism in finance.

We want to hear from you. Email us at: georgia.stephanou@cimaglobal.com

There are risks involved with ethical issues, and there may be consequences when unethical practices come to light: for the individuals involved and the companies they work for, as well as for wider society.

Professional management accountants have specific obligations from their Code to uphold ethical principles and as such can make a direct contribution to the ethical conduct of businesses.

CIMA has recently launched a new ethics CPD e-learning tool, which allows you to practice ethical decision-making through seven scenarios.

The scenarios are of global scope and loosely based on real events that you would have read about in the news.

A CGMA survey of more than 1,300 finance leaders who hold the Chartered Global Management Accountant (CGMA) designation, identified the increased global interest in, and demand for, more transparency, reputational failures of competitors, and the rise in social media channels such as Facebook, Twitter and LinkedIn, as key contributing factors to the reputations of organisations.

Despite your best efforts to act ethically, challenges sometimes arise.

As a professional you therefore need to be prepared to handle ethical conflicts. Many of the ideal choices and lines of action in the tool involve escalation; however there is not always a clear way forward to resolve an ethical issue. As the tool will show, professionals may still be facing pressures despite having made a well thought, through decision and acted according to their Code of Ethics.

Organisations are increasingly recognising the need to take reputational risks very seriously if potential crises are not to turn into catastrophes.

After all, nearly a quarter of businesses surveyed admitted to experiencing reputational failure in the past, and the widespread use of the internet and social media casts a harsher spotlight than before.

Whether within your own practice or guiding your client, ensuring that you are prepared to resolve ethical issues and committed to doing the right thing is key to minimising reputational risk.

CIMA Ethics have a wide range of resources, including an ethics checklist, webcasts, exercises and tools, reports, case studies, articles, code of ethics, a newsletter and quiz.

This free CIMA tool improves your skills and counts towards your mandatory CPD. Try it out at www.cimaglobal.com/ethicstool

InTouch, In Tune | Winter 2013

MiP Conference 2013 Opportunity Knocks – How to build successful businesses Fiona Bevan - MiP conference chair 2014

Preparations for next year’s conference are going fantastically and we already have a fabulous line-up of speakers and sponsors. In particular I want to tell you about Steve McDermott who will be opening conference for us. Steve has won European Motivational Speaker of the year award three times and we are extremely lucky that he has agreed to open our conference.

NHS Supply Chain gave Steve the following testimonial ‘I was looking for a motivational, inspirational way to send everyone out of the door feeling full of confidence and positivity, with their side aching a little from laughter during the process! Steve McDermott delivered in spades’ We are also pleased to announce that Ben Heald founder of www.accountingweb.co.uk (which I am sure you are all familiar with) is our closer for day one.

We will of course have our usual tax and compliance sections but our key drivers for the 2014 conference are providing you with practical tips for building successful businesses – whatever your definition of successful is.

For the first time we are aiming to have sponsors we, as a community, can build proper, long lasting partnerships with. We are therefore seeking sponsors who provide great services both to MiPs themselves or to their clients. Keep an eye out information on speakers/sponsors.

We think this conference will be the best ever so make sure you have the dates in your diary 20 and 21 June 2014. Our early bird offer was fantastically successful with nearly 50 of you booking, but of course it is not too late to book your place if you haven’t already.

Contact Imogen Cooper on 0207 067 2820 or imogencooper@bpp.com Remember you don’t have to pay until May 2014 so what are you waiting for?

Fiona Bevan Chair 2014 CIMA MiP Conference

Full package: two day conference with dinner and accommodation.

Fully inclusive package: two days, gala dinner (optional formal/black tie) and Friday night accommodation.

£360 + VAT

Two days only Friday and Saturday day conference, no accommodation

£265 + VAT

Friday conference day only (Does not include gala dinner or accommodation).

£140 + VAT

Saturday conference day only (Does not include gala dinner or accommodation).

£140 + VAT

Friday gala dinner only Three-course gala dinner (optional formal/black tie) with entertainment.

£60 + VAT

Thursday night accommodation Inclusive of breakfast

£100 + VAT

Family/Partner accommodation (Thursday and Friday) Inclusive of breakfast. Excludes gala dinner.

£40 + VAT

InTouch, In Tune | Winter 2013

Get in touch 2014 MiP Conference sponsors Adding value to your conference experience

ECS ECS is proud to enhance its longstanding support of the CIMA MiP community as an official partner. It has been working for, and with, MiPs since 1995 and are excited to be involved in this new project. As one of less than 100 Chartered Insurance Brokers in the UK you can be sure of the quality of professional partner you are working with. Visit them at the conference and find out about their PI scheme for MiP members and if they can enhance your revenue stream.

Freedom Search Freedom Search brings a wealth of experience in online marketing, specialising in the promotion of Google Adwords. Its prime focus is to make sure ‘YOU’ the customer, understand what you are buying and how being featured within Google, can push your business to the forefront of where your future customers will be looking. CIMA members are already engaging with us including our very own MiP Panel Chairman, Stephen Milne. Freedom Search are eager to speak with you and discuss any requirements or worries you may have with advertising on Google and will work with you to put together a package that will fulfil all your requirements and generate traffic to your business.

Swat UK SWAT UK offer one of the most comprehensive ranges of accountancy CPD courses in the UK. It runs over 300 courses in 18 venues throughout the country. Courses cover a wide range of current and topical areas and are presented by some of the country’s leading accountancy lecturers. In addition, its programme of live and recorded webinars gives you access to over 200 courses from the comfort of your own desk, whenever and wherever it suits you. With a range of flexible and competitive pricing options available, SWAT UK is confident they can meet all of your training requirements.

We want to hear from you. Email us at: georgia.stephanou@cimaglobal.com

PFP PFP is delighted to be CIMA’s preferred partner on Tax Investigation Insurance. PFP are a market leader in Fee Protection and have nearly thirty years experience of helping CIMA member firms launch and run successful Fee Protection schemes. PFP offer a highly experienced team who will be on hand with advice on tax investigations and effectively marketing your scheme to your clients. A major benefit of working with PFP is that you can subscribe free of charge to its monthly CPD webinars which will help to ensure you get the very best and most up to date advice on Tax Investigations. As a CIMA member you can also benefit from free marketing support from PFP for your Tax Investigation Insurance scheme. This even includes PFP sending mailings for you free of charge and designing and printing bespoke leaflets for your practice.

To speak to one of their experienced consultants please call 0845 3071177 or email info@pfp.uk.com and quote ‘CIMA MIP Special Offer’.

Jumpstart Since the introduction of the R&D tax scheme in 2000, the majority of British companies that could be eligible for the scheme are not claiming.

It is widely accepted that more than £10 billion has been left unclaimed in the UK since the start of the scheme. This is money that could have been reinvested into further improvement and development of products and manufacturing processes. The technical analysts at Jumpstart have a deep knowledge and understanding of HMRC’s R&D policy and regulations. Their scientific backgrounds allow them to speak the language of their clients and to identify eligible activity and processes often hidden in the daily routines of your production and process work.

Jumpstart works in many industry sectors and with companies of all sizes, from small SMEs to larger companies in the £100 – £300million bracket, some of which are part of larger £1billion groups.

Referral-based, word-of-mouth Referral-based, word-of-mouth is the ultimate sales programme. The Referral Institute teaches business professionals throughout the world how to harness the power of word-of-mouth marketing to drive sales for fast, sustainable business growth. 97% of business owners say that they rely upon referrals to grow their business but only 3% have a plan to grow by referral. Referral Institute run local two hour sessions which will open your eyes to the possibilities of generating more sales in less time by doing business by relationship. You will learn how to develop a strategic referral network, who should be in it, how to find them, and how to motivate those people to refer business to you.

You will learn specific techniques that will enable you to work smarter, not harder. They would love to talk with you (word-of-mouth or email) about growing your business the effective way by generating more and better referrals.

InTouch, In Tune | Winter 2013

Apps for CIMA Members | The Future is Here www.myfirmsapp.co.uk | Scan the QR to get your free demo

Launch your own App approved by Apple & Google • Differentiate your firm and stand out from the crowd • Save hours communicating to clients using the very latest technology • Packed with great features & time saving tools, calculators, tax tables & key dates • Unique photo receipt & mileage management • Automatic updates containing the latest tax & accounting information

Your Free 1:1 Demonstration

DEMO

From the comfort of your desk you can see why so many firms are launching their own App. You will also discover which firms are already using this technology and how your firm can benefit from it. Plus exclusive CIMA discounts available.

Register for your free demo today myfirmsapp.co.uk

+44 0) 1325 469603

demo@myfirmsapp.co.uk

CIMA behind the scenes New CGMA report: From insight to impact – unlocking opportunities in big data The new CGMA innovation report ‘From insight to impact’ has launched today. It is available online at cgma.org/data. Based on a survey of over 2,000 CGMAs as well as extensive interviews, it investigates what today’s data-driven era means for finance leaders, and particularly the role of management accountants in helping turn data insight into commercial impact. Click here to read the report.

InTouch, In Tune | Winter 2013

CIMA behind the scenes

Member in Practice renewal has begun The autumn season has come around again, which means that CIMA’s member in practice (MiP) annual online renewal for the year ahead has begun. You can log in to your My CIMA account, using your contact ID and personal password to complete the process for 2014.

CIMA members in practice are governed by a set of rules that ensure best practice and protection of the public. These rules include annual renewal. Guidance on how to renew and remain compliant is available in the Members’ Handbook.

CIMA goes app We are delighted to announce that from December 2013, FM magazine will be launched as an on the move app, available to both i-phone and android phone users, and of course those with i-pads.

After our recent member satisfaction survey and a number of member value focus groups, we’ve listened to feedback and know that you want content better structured and accessed on the go. The FM app will have all of our regular features and articles but enhanced content such as videos and more interactivity.

From January 2014, members and students that have completed their exams but are yet to qualify/apply for membership will receive 6 hard copies of FM a year, a reduction from 10, but based on your feedback that magazines sometimes stack up in the office waiting to be read, we hope that this will be a well-received change.

Please ensure that your registration is completed including payment of the current annual GBP118 MiP fee by 1 January 2014.

As a CIMA member in practice, not only will your professionalism and adherence to a code of ethics remain apparent to clients present and future but you will have access to a wealth of benefits, many of which are free to registered members in practice.

What if I am no longer a Member in Practice?

If you are no longer in practice, please contact us at prof.standards@cimaglobal.com. This will ensure that you are not incorrectly monitored or sent renewal demands.

InTouch, In Tune | Winter 2013

The app will be published monthly and the transition to the app not only means you will have better access to content, more regularly, but that CIMA’s carbon footprint reduces. We can significantly reduce the number of trees currently used in the production of the magazine - which currently has a circulation of over 200,000 a month.

Whilst we make the transition, there will unfortunately not be a hard copy published in November. This is to allow us to focus on the FM app launch. In November, members will receive a link to the CGMA magazine e-book: a summary of articles and features from around the world for the global CGMA community.

CIMA behind the scenes

Are you self employed?

Do you offer accountancy services?

If the answer to these questions is yes you may be required to register as a CIMA member in practice. The member in practice regulations require all CIMA members falling under the definition of a CIMA member in practice to register with the institute and failure to do so may result in disciplinary action.

CIMA in business Visit www.cimaglobal.com/cima-in-business to see how CIMA have re-launched the CIMA in business section of our website, containing information for employers. The new content is based on our refreshed employers’ toolkit and also has a new introductory video, as well as information on: • What is management accounting?

• How management accounting can help your business • The training and development accreditation scheme • CPD • Our qualifications • CGMA • Global CIMA survey reveals Gen Y is ‘Generation Aspiration’

The process for registering is fairly straightforward and can be completed via your online MYCIMA account. Simply log in and navigate to the Members in Practice area of your account. Before registering you will need to have a completed AML/CTF Return form, a CV and a copy of your Professional Indemnity Insurance certificate to hand. More information on the specifics of the requirements and video guidance on how to apply can be found at www.cimaglobal.com/mipregulation.

Members in Practice toolkit As a, CGMA designation holder we are interested in making sure you get the most from your membership, that’s why we have created the Members in Practice Tool Kit your one stop shop for all things a management accountant needs to help benefit the organizations you work for. For each tool we have provided an analysis and review of its effectiveness as well as implementation tips and links to extra resources to further your knowledge.

These documents will change as methods and best practices evolve, please check the pages updates and additional content by clicking here.

InTouch, In Tune | Winter 2013

CIMA behind the scenes Mandatory requirement compliance checks If you are a CIMA MiP you may remember receiving an email last year notifying you of CIMA’s new Quality Assurance (QA) process, whereby a sample of members in practice (MiP’s) were selected and asked to submit their mandatory requirement documents to CIMA. The QA process forms part of CIMA’s monitoring and compliance framework as required within the Member in Practice Rules, and further underpins CIMA’s commitment to working in the public interest and upholding confidence in the profession.

Work is also underway to improve web guidance and CIMA’s mandatory requirement examples to enable us to better support different legal arrangements and trading styles of practices.

Additional information on the requirement for Quality Assurance and the regulatory requirements for being a CIMA Member in Practice can be found at www.cimaglobal.com/mipregulation

Promoting your professionalism and quality to clients – your website CIMA’s Practising Certificate and Practising Certificate holder logo were designed as a mark of professionalism, competence and quality. They are a key differentiator for CIMA MiPs and when included or referred to on marketing collateral can help attract and retain clients.

Although the PC holder logo was initially developed for use by MiPs on paper stationery, the increased use of online marketing has also increased the value of advertising your services online.

The pilot of the QA process proved successful with 98% of MiPs being compliant through submission of their documentation. Any members that did not submit within the timeframe given have been referred to CIMA’s professional conduct department. There were a few MiPs who received additional feedback on their documents and duly updated and amended the documents, as advised.

The conclusion of the pilot has led to development of an ongoing QA programme as recommended and endorsed by CIMA’s Professional Standards Committee and the information gleaned so far will inform the way we support MiPs in the future. The next round of quality assurance monitoring will begin early next year and those who have been selected will be notified in February 2014.

How do you use your website? Are you promoting your commitment to professionalism on your website?

Do you: • use CIMA’s PC holder logo?

•

show that as a member of CIMA you are obliged, at all times, to demonstrate a commitment to the highest standards of professional conduct as outlined in CIMA’s byelaws and regulations. In short, that you work within the public interest?

• show that CIMA promotes the highest ethical and business standards, and encourages its members to be good and responsible professionals?

• Show that you work to reduce the threat of financial crime and are supervised by CIMA for compliance with anti-money laundering and counter terrorist financing regulations?

It stands to reason that clients will use the services of accountants that they can trust and that are competent to undertake the services they offer.

If you are not already shouting about this – perhaps you should be. More information about CIMA professionalism and ethics can be found here.

InTouch, In Tune | Winter 2013

CIMA behind the scenes

Global CIMA survey reveals Gen Y is ‘Generation Aspiration’ As part of its strategy, CIMA is constantly finding ways to generate PR for its SMEs both locally and nationally. Click on the links for some of the press coverage generated so far: Global Accountant Web, Accountancy Age, The Telegraph, FT advisor, freshbusinessthinking. com, Contractor UK, Freelance UK, The Accountant Online

Meanwhile 36% of respondents looking for a new job in the next two years intend to seek new opportunities abroad. The most popular destination is the UK, closely followed by the US, Australia, Canada and UAE. The primary reason given for the change in location was the opportunity to experience a different culture, closely followed by a better work/life balance rather than to increase their salary.

Andrew Harding, FCMA, CGMA, Managing Director, Chartered Institute of Management Accountants (CIMA) said: The CIMA survey shows an aspirational generation keen to climb the corporate ladder on their own terms. With the challenge of youth unemployment, it is encouraging to see tomorrow’s generation aiming high and open to new experiences while maintaining a healthy work/life balance.’

‘In this volatile climate, the value added by talented and ambitious people allows businesses to be competitive and resilient. Business leaders must match the aspirations of Gen Y by developing skills and providing satisfying jobs to seize this opportunity.’

A new CIMA survey shows an ambitious global generation aiming for professional success on their own terms. The global survey of more than 4,300 Generation Y finance professionals, representing a selection of countries including the UK, China, and South Africa reveals: •

34% hope to be in a senior management role by their mid- 30s, with 17% aspiring to be their own boss

•

67% would choose working for an employer that shares their values over one which offers a high financial reward

• Over 36% of those seeking employment (excluding self employment) in the next 2 years will prioritise opportunities abroad over those in their home countries • 60% believe a major corporate or multinational corporation will provide the fastest career progression 34% hope to become senior managers by the time they are 35, with 12% expecting to have their own business by the age of 33 or younger.

Respondents said they prioritised working for employers who shared their values and were a good fit with their lifestyle over those who could offer a high financial reward.

InTouch, In Tune | Winter 2013

60%

of Generation Y professionals believe a major corporate or multinational corporation will provide the fastest career progression

Get in touch

We want to hear from you. Email us at: georgia.stephanou@cimaglobal.com

Improvements to HMRC’s tax registration systems

Online Services - What’s in the pipeline?

The current HRMC tax registration system used by tax agents is out of date and HMRC are currently improving the process. The current process involves a range of different application processes, for example separate paper applications for agents, for self-assessment and corporation tax.

This results in multiple agent codes and references for different (and sometimes the same) tax regimes.

Agents will be able to view their clients’ liabilities and payments across the main business taxes through a customised Client Tax Dashboard, which will also provide access to client services such as online filing and payment plans. It will, however, only be possible to extend this facility (and other new online services) to agents when we have a clean, accurate set of data about agent and client relationships for the main Heads of Duty. It’s therefore important that agents apply for their UAR when asked to do so, to enable them to take full advantage of HMRC’s online digital services.

A single procedure will replace the various current processes making registering to act as an agent and the ability to access agent services easier and quicker. Firms will only need one single agent identifier (called a ‘unique Agent Reference’ - UAR) to deal with HMRC on a range of taxes.

When agents apply for UAR, HMRC will use the information agents to create a new HMRC database which will enable agents to be linked to their clients. Work is currently underway to establish how to move from the old to the new systems with minimal disruption to agents’ and HMRC’s business.

HMRC hopes to be able to match the agent’s UAR to some of their existing client relationships under the old agent codes. For some tax regimes that will not, however, be possible and agents will need to tell HMRC about their current client relationships.

What are the benefits? Why should agents sign up for this?

Agents who are members of professional bodies will be entitled to enhanced access to HMRC’s online services. Following verification of their membership agents will be able to self authorise to act on behalf of a client. All agents with a UAR will, however, have access to a new and improved online agent authorisation process. Further benefits are: • Digital services will continue to be introduced for customers – agents will need their UAR to ‘view and do’ what their clients can • They will have an improved and secure online experience • Putting agents in the driving seat and enabling them to do more on behalf of their clients will reduce costs of progress chasing and reworking • Commercial benefits to agents as a result of more efficient online processes and the ability to see information for themselves in real time •

Obtaining a UAR lays the foundations for enabling agents to do more online. More, new digital services are coming and existing online services will eventually be switched off so that having a UAR will become essential to operating as an agent

• One single agent identifier (the UAR) will be all agents need to deal with HMRC on a range of taxes

The online agent authorisation process (to act on behalf of a client) will be made quicker and easier for all agents and those who satisfy the criteria for enhanced access will be able to self authorise new clients. The paper 64-8 process will disappear for the majority of agents.

How is CIMA involved?

CIMA sits on HMRC’s Agent Strategy Group. HMRC formed the group which consists of representatives from relevant professional bodies to help with the project. In particular CIMA is working with them to find a solution to enable the new system to verify that the agent is a current member of CIMA and so qualify for enhanced access to HMRC’s online services.

CIMA’s Members in Practice Panel is being kept apprised of how the project progresses and further updates will be issued through MiP News.

When will the new digital service be available?

Work on the new digital services is now underway. HMRC expects the new online service to be delivered from April 2014, with a phased rollout and transition onto the live services during 2014-15.

What do I need to do now?

As the new system will not be in place until sometime in 2014/2015 no immediate action is required. However, HMRC is aware that the transition to the new system will present some significant challenges and in order to minimise these challenges it has requested that agents do all that they can to clean up their client data and remove any clients who no longer use their services.

More information about the project can be found on the HMRC website.

InTouch, In Tune | Winter 2013

Get in touch Dates for your diary

29 03 07 17 21

OCTOBER Self-employed: the CIMA route, and financial small and medium enterprises/sme Date: Tuesday 29 October Venue: The Royal Scots Club, Edinburgh EH 6QE Time: 6.00pm for 6.30pm – 8.00pm

We want to hear from you. Email us at: georgia.stephanou@cimaglobal.com

And finally...

Your Management Accountant This is a not-for-profit website where practising MiPs can advertise. The idea of Your Management Accountant is to put SME owner/managers in touch with MiPs who can help them with their business problems in an easy and straight forward way. This is an excellent opportunity for CIMA MiPs to work together to raise the profile of management accounting. yourmanagementaccountant.co.uk Once you have paid the £50 joining fee you have access to load your profile.

Anti-Money Laundering – Free online course

NOVEMBER MiP North West meeting Date: Venue:

Time:

Sunday 3 November Cheadle House Hotel, Royal Crescent, Cheadle Royal Business Park, Cheadle SK8 3FS 9.30am for 10.00am – 4.00pm

NOVEMBER Self employed the CIMA route events Date: Venue:

Time:

Thursday 7 November Future Inn, Cardiff Bay Cardiff CF20 4A 6.00pm for 6.30pm – 8.00pm

NOVEMBER MiP area meeting Date: Venue: Time:

Cost:

Sunday 17 November Doubletree by Hilton Bristol 9.30am for 10.00am – 4.00pm Refreshments on arrival £25

NOVEMBER

CIMA MiPs are automatically monitored by to make sure they are compliant with CIMAs code of ethics. Money Laundering is especially an area of risk for CIMA MiPs as there are a number of criminal offences you could be liable for. It is important to be vigilant, and idea to keep up to date with current rules and regulations. Access our online course here.

Business information service for MiPs CIMA, in partnership with Law Express, provides a free business information service for UK and Republic of Ireland members. It covers many typical business and legal issues affecting members both running businesses and employed in business. There is also a limited free telephone helpline service on referral from the CIMA Professional Standards Department for members unable to find solutions from the web information. Should you want to find out more please go to the Members Handbook.

MiP Panel

Elected Members

Stephen Milne Chairman

Mark Barrett Fiona Bevan Tony Boffey Lyn Watson Garry Thickett

Antony Holdsworth Vice Chairman Kim Swarbrick Vice Chairman/Treasurer

Click here for MiP Panel contact details

Ray Baxter Secretary

Self employed the CIMA route events Date: Venue:

Time:

Thursday 21 November Hilton Hotel, Woodlands Lane, Bristol BS32 4JF 6.30pm for 7.00pm – 8.30pm

Newsletter Editor and MiP Event Co-ordinator Georgia Stephanou T. +44 (0)20 8849 2207 | E. georgia.stephanou@cimaglobal.com

Chartered Institute of Management Accountants 26 Chapter Street, London SW1P 4NP, United Kingdom T. +44 (0)20 8849 2251 | E. georgia.stephanou@cimaglobal.com | www.cimaglobal.com/uk

Find out about the latest CIMA events www.twitter.com/cima Connect with us on Facebook: www.facebook.com/cimaglobal