All members of the IAB are required to complete, a minimum of 30 hours CPD each 12 months (for practising members this coincides with the certificated year). CPD records should be maintained individually and for those in practice submitted annually to Head Office with the Certificate of Supervision/ Compliance or Practising Certificate application.
The 30 points can be gained by using two categories Pro-active & Re-active.
CPD Points – Pro-active and Re-active
CPD points are accrued at one point per hour of learning throughout the year. The 30 points should be made up of a minimum of 10 proactive points, unless specifically agreed with the IAB Compliance Department.
Pro-active = Gaining knowledge directly relevant to the professional work of the member whether employed or self-employed, usual by planned participation in a course, event or other activity to meet an identified development need.
- An accredited Branch/District Society meeting of a nationally recognised accountancy/bookkeeping organisation.
- Courses run by HMRC.
- E-learning – such as those provided by accountingcpd.net (see the information below for links to E-learning products).
- Paper or internet based research.
- Academic study, e.g. an open learning or degree course, courses on a topic relevant to the member or further studies for professional exams.
- Familiarisation with new software related to the preparation of accounts/payroll.
Re-active = Assimilating knowledge of broad interest to keep abreast of current trends directly or indirectly relevant to the professional work of the member.
- Preparation and presentation of lectures and seminars.
- Technical reading (manuals, periodicals, magazines, newsletters, websites etc).
- Paper or internet based research, on issues that arise from queries at work.
- Technical discussions with colleagues and preparation of complex work.
- Attendance at a course not directly relevant to the work of the member.
Recording the CPD points
A portfolio of evidence should be maintained showing receipts for learning materials/courses and containing attendance or completion certificates to be made available in the event of a Compliance visit. Where such authentication is not available i.e. after discussion with colleagues or preparation of complex work, an appropriate note should be made. You can Download your CPD Record form here.
Designed to help you learn at your own pace, the HMRC e-learning products include sections on:
- how and when to tell HMRC you have started self-employment
- keeping accurate business records to help you claim expenses and tax allowances
- how and when you pay Income Tax and National Insurance contributions to HMRC
It also features case studies on growing your business, VAT and taking on staff.
Becoming an employer
This e-learning package has been designed to assist when you take on staff. A link to this can be found below.
Business Expenses for the Self-employed
It’s really important to know what expenses you can claim and in some cases, how these are worked out. This e-learning package will assist you with the following questions:
- what allowable business expenses are
- what is meant by revenue ‘day to day’ expenses
- how to claim for larger items of plant and machinery known as ‘capital allowances’
- whether using flat rates for certain expenses or ‘simplified expenses’ could be an option for you
VAT – Getting started
Just started your own business? If so, you may be unsure about if you need to register for VAT? Or, you may have decided that you want to register for VAT?
If so, this HMRC e-learning guide is for you.
VAT – How VAT works
Have you registered for VAT? You may have a lot of questions about how and when to charge VAT, how you claim it back, and how VAT works?
CIS – Tax advice for the Construction Industry
Working for yourself in the construction industry? Got a lot of questions about tax, National Insurance, business records and expenses? If so, this HMRC e-learning course is for you.
HMRC regularly runs webinars which you can sign up to attend, meaning you can learn valuable information while at work or home. There are a choice of live and recorded webinars which you can view, covering a wide range of topics including business expenses for the self-employed, operating PAYE in real time, statutory sick pay and much more. There is also the opportunity to take part in question and answer sessions at the end.
IAB CPD units:
We have Continuing Professional Development (CPD) units available for you to study which are taken from our Level 2 Certificate in Bookkeeping and Level 3 Certificate in Bookkeeping qualifications. You’re able to study the CPD units as a self-study student meaning you can study flexibly around your home or work commitments and learn while you earn. The units enable you to learn in-demand and highly sought after skills so you can refresh your knowledge or upskill. The knowledge you gain can be used either within your own business or improve your job prospects and open the door to a range of career opportunities. The units are short courses and excellent value for money with prices ranging between £35 and £55 per unit. As an IAB member you can receive a discount of £10 on each course by entering IABMEMCPD2019 at the checkout. For further details and to register for the CPD units please click here.
Accountingcpd.net is pleased to offer members of the IAB a 10% discount on their total order. There are a range of courses to choose from on over 30 topics. Accountingcpd.net, from Nelson Croom, is an online resource for high quality accounting CPD that meets the requirements of all UK accounting bodies’ CPD regimes. For more information click here.
Learn Payroll are the biggest payroll learning company in the UK and offer a huge range or training solutions. One of their most innovative solutions is a monthly training programme of live training webinars and videos. Each month you get access to live and on demand video sessions, together with downloadable full course notes) that cover the latest hot topics and issues within payroll, benefits and HR.Members have the opportunity to access this key training resource at a hugely discounted premium.
One individual webinar : £50 + VAT
Annual webinar package : £99 + VAT
Annual webinar package and 6 help-desk calls : £149 + VAT
To find out further information, and to view the video training and course notes for free, please click here or call 01798 861111 and one of the Learn Payroll team will discuss the options.
Excel with Business:
Excel with Business provide online CPD courses in Microsoft Office products. They have teamed up with the IAB to bring members a great discount on its Excel training courses. Please click on the links below for further details:
- Excel training course in partnership with Excel with Business – £19 (RRP £59)
- Excel and advanced excel training course in partnership with Excel with Business – £29
- Ultimate Excel training course in partnership with Excel with Business – £49 (RRP £199)
- Ultimate Office training course in partnership with Excel with Business – £59 (RRP £299)
SmartVault is an online platform for managing and securely sharing files. It’s integrated with market leading business and accounting apps to give you a more efficient workflow. They have two online courses available for IAB members to sign up to for free. Please find further details below. www.smartvault.com/.
- GDPR mini-course for accountants and bookkeepers
- Not sure if you are GDPR compliant or want to know what to do next? Sign up to the SmartVault complimentary five-day email mini-course to get actionable tips delivered right to your inbox. You can sign up here: smartvault.com/GDPR-mini-course-for-bookkeepers.
- How to get great results from your bookkeeping business
- A 4-part educational series with thought-leader, Jane Aylwin. She will cover the four critical success factors of running a bookkeeping business: Price, Customer Service, Delivery and Confidence. You can sign up here: smartvault.com/uk-edu-series.