Exemptions to needing an IFA practising certificate

The following IFA members are not required to hold an IFA practising certificate:

1. A member who is employed to provide accountancy services to his or her employer does not need a practising certificate if the recipient of the accountancy services is in an employer/employee relationship.
2. A member who acts as a director, trustee, treasurer or other officer of a not-for-profit organisation does not need a practising certificate. Whether or not the office is remunerated is not a consideration.
3. A member who gratuitously and not in anticipation of reward applies his/her skills for the benefit of others via an organisation, such as a voluntary advice bureau, does not need a practising certificate.
4. A member does not need a practicing certificate if he/she gratuitously or for a nominal amount (which is in the nature of expenses and does not exceed £500 per appointment) provides accountancy services to a small charitable, community, religious or sporting body or to similar bodies of a non profit-making nature, whose income is less than £250,000, for example, undertaking voluntary independent examinations for charities with income below £250,000.
   (The income limit is the point at which accruals accounting is currently required for charities, and should this change, the limit in this exemption would be changed).
5. A member who gratuitously and not in anticipation of reward applies his/her skills for the private benefit of friends or family.