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Frequently Asked Questions

All You Need To Know About Accounting

What is the ACCA qualification

ACCA stands for Association of Chartered Certified Accountants.

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The ACCA is a globally recognised chartered accounting qualification—equivalent to a Master's level degree, once professionals papers are complete.

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After 5 years qualified, a Fellow status is applied, hence FCCA notation.

How long should I keep tax records?

Keep for at least 5 years after the 31 January tax deadline.

 

HMRC investigations may go back 4–20 years depending on the situation.

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You can be fined £3,000 by HMRC or disqualified as a company director if you do not keep accounting records.

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