- Professional Level
Professional Level Business Planning: Taxation
The Business Planning: Taxation module covers the following topics:
- ethics and law
- taxation of corporate entities
- taxation of owner-managed businesses
- personal taxation
Ensure you order the correct edition of the materials. The 2023 edition is aligned with the syllabus and exams for 2023 only. The 2024 edition is aligned with the syllabus and exams for 2024 only. You risk losing exam marks if you use a different edition.
For more information and resources, please visit icaew.com/examresources .
Available editions:
| Professional Level Business Planning: Taxation 2024 | £64.00 |
ICAEW Business Planning & Taxation
The ICAEW Business Planning: Taxation (BPT) exam focuses on the importance of taxation knowledge in business planning within a professional context. This includes a thorough grasp of tax strategies, applying tax laws to business scenarios, evaluating tax implications for business decisions, and understanding the key role of taxation in strategic business planning and financial management.
Our course includes
- 10 days of classroom based tuition
- Tutor support
- Access to ICAEW's materials
- Bespoke course notes & slides
- Minimum of 2 marked mock exams with feedback
Frequently asked questions
The exam is 2.5 hours and will consist of three questions covering a range of taxes as well as tax planning. The pass mark is 55%.
For more information on how to book your exam, click here
The ICAEW has certain entry requirements which can be found here.
Alternatively to these requirements you can complete the CFAB (ICAEW Certificate level) qualification to gain entry to the ICAEW qualification.
The ICAEW (Institute of chartered accountants in England and Wales) Chartered Accountant qualification, the ACA, is one of the most advanced learning and professional development programmes available. It is valued around the world in business, practice and the public sector.
It involves passing a series of exams, gaining relevant work experience, and fulfilling professional ethics requirements, thereby preparing candidates for senior roles in accountancy, management, and consultancy.
Click here to find out more about the ACA qualification.
The ICAEW CFAB (Certificate in Finance, Accounting and Business) qualification is a internationally recognised certificate that teaches essential knowledge in business, finance and accounting.
It comprises six exams that cover key aspects of financial and management accounting.
Upon completion, it provides a pathway to the ICAEW qualification.
Click here to find out more about the ICAEW CFAB qualification.
At MPES, we provide the opportunity to take up to two exams each quarter, specifically during the months of June, September, and December. We advise enrolling in one or two exams per session to finish the professional level within one to two years.
Should you choose to take one exam per session, it's recommended that you complete both Tax exams (TC & BPT) within the same year, as these are updated annually to reflect the new tax year.
To sit for your exams and achieve the qualification, you must register as an ICAEW CFAB student with the ICAEW.
Click here to register as an ICAEW CFAB student.
FAR - Full Series
Learn how to ace the aca certificate level exams, financial accounting and reporting (far) , classroom tuition, online tuition.
- Feb 1, 2020
How to Pass the ICAEW ACA Business Planning: Tax (BPT) Exam
Updated: Mar 4, 2022
This article offers our top five tips on how to pass the ACA Business Planning: Tax (BPT) exam. The advice contained in this article is taught as part of our popular BPT course which has seen several attendees scored over 90% in the BPT exam. Written by an ACA tutor who won multiple ICAEW prizes as a student, including one for Tax, this is a must read for any student preparing for their BPT exam.
Tip 1 – When starting your BPT preparation, ensure that your Tax Compliance (TC) knowledge is at least at the same level as when you passed TC
The BPT exam requires students to advise individuals and businesses on UK tax matters. Clearly, this requires a good understanding of UK tax rules and the majority of these rules were already covered in the TC exam. In fact, around 60% of the marks in the BPT exam are for technical matters already tested in the TC exam.
It is therefore strongly advised that your BPT preparation begins with re-learning of the TC technical content for each tax. As we consider this to be such a fundamental part of BPT preparation, we provide our students with access to our TC tutorials to give them a head start. Our experience is that students who complete this preparatory work find the advanced BPT content much easier to understand and apply. This then enables them to focus on exam technique from an earlier stage which leads them to higher marks.
Tip 2 – Identify which ‘scenarios’ are commonly tested
The BPT exam requires students to advise individuals and businesses on UK tax matters in ‘real-world’ scenarios. In practice, there are several tax matters which individuals and businesses frequently need advice on, such as:
Whether a start-up business should incorporate or operate as an unincorporated business
Whether an existing business should incorporate
How an incorporated business can distribute returns to director-shareholders tax efficiently
How to pass assets to children without triggering a tax charge
The optimal use of a tax loss for a large corporate group
Whether an internationally expanding business should set up a subsidiary company or a branch
These common ‘real-world’ scenarios are also the scenarios examiners use in the BPT exams. Unlike TC, BPT does not usually require students to calculate the tax liability for a single tax. Instead, BPT requires students to advise on all tax matters. Therefore, by practicing lots of past exam questions you will soon start to see which scenarios are commonly tested and which taxes apply to each. This should enable you to develop a broader understanding of tax and an ability to identify the tax implications of various scenarios.
Tip 3 – Practice several exam questions of the same scenario one after another
After using lots of past BPT exams to teach our students the optimal exam technique for a particular type of BPT exam scenario, we send our students away to practice lots exam questions on a similar scenario. For example, after being taught the technical content and exam technique for business incorporation, our students then practice several other past paper incorporation questions one after another.
This has the following benefits:
It familiarises you with how the examiners structure scenarios and questions
It enables you to identify patterns in how the scenario is examined
It enables you to apply the exam technique demonstrated during tuition
It improves your efficiency when using the open book notes
It enables you to identify weakness areas so that you can focus your technical learning and exam technique development on a particular area
It familiarises you with the ICAEW exam software
It enables you to improve your speed so that you don’t exceed your time allocation
Our BPT Master Plan categorises all the past exam questions by scenario/topic to make it easy to practice lots of questions on the same scenario/topic.
All our classes teach the technical content in the context of how it is likely to be examined before demonstrating how to answer exam questions on the topic. To give you an insight, one of the classes from our BPT course can be viewed for free here .
Tip 4 – Structure your open book notes so that they can be used effectively and time-efficiently in the exam
Open book exams present both a golden opportunity and fatal time trap. The BPT exam is incredibly time pressured so any time spent looking something up in your notes is time which could have been spent typing a mark scoring point. Therefore, your open book notes need to be concise and structured in a way that you can quickly look up information should you need to.
Given the technical nature of tax, we advise that notes include a summary of the key technical points for each tax. As the same scenarios come up time and time again in the BPT exam, it is highly recommended that you have a reminder of common points to consider including for each scenario. The example below, taken from our BPT Materials , demonstrates what we mean by this. Our students constantly feedback that this is an incredibly valuable resource in the exam as it enables them to include lots of points and cover the full breath of taxes.
As mentioned above, any time spent looking something up in your notes is time which could have been spent typing a mark scoring point. Therefore, you should aim to build your tax knowledge and to a level where you use the open book notes sparingly as this will enable you to type more in the exam. Personally, other than the Common Exam Scenario reminder section, I only use the materials if a very technical matter comes up, such as the crystallisation of a gain when an incorporated overseas PE disposes of an asset within 6 years.
Tip 5 – Bag the relatively easy ethics marks
Ethics is examined is all the ACA exams and whilst ethics questions do get harder as the ACA progresses, the ethics marks remain comparatively easier to the technical marks. BPT exams include up to 10 marks for ethics which equates to 18% of the marks needed to secure a 55% passing grade. Therefore, comparatively easy ethics marks offer the opportunity to bag 18% of the marks you need to pass - in what our opinion is - the hardest ACA Professional Level exam.
The most efficient exam strategy is to ensure that you have an exam technique which will ensure that you make the ten points needed to get maximum marks for ethics.
Need Help Passing the ACA BPT Exam?
Our BPT courses focus on the most frequently examined technical content and demonstrate the optimal exam technique for each type of BPT question. Sample classes from the course and our BPT Materials can be found here .
About the Author
Kieran Doe is a Senior ACA Tutor at ACA Masters. Kieran won ICAEW prizes for his performance in Financial Accounting and Reporting, Tax, Financial Management, Audit, Business Strategy and Case Study. This is in addition to winning several prizes at university for various Accounting, Management, Business and Economics subjects.
Kieran’s tuition is based around the learning techniques and exam strategies which enabled him to win prizes for all the subjects he teaches. Under his guidance, several of his ACA students have also won ICAEW prizes.
Recent Posts
How to Pass the ICAEW ACA Accounting Exam
Get the Easy Marks!
How to Pass the ICAEW ACA Case Study Exam
More From Forbes
Kamala harris’ focus on small business: her job creator plan.
- Share to Facebook
- Share to Twitter
- Share to Linkedin
North Hampton, NH - September 4: U.S. Vice President and Democratic presidential candidate Kamala ... [+] Harris speaks during a campaign event at Throwback Brewery. (Photo by Danielle Parhizkaran/The Boston Globe via Getty Images)
On Wednesday, Vice President Kamala Harris announced her “Entrepreneurs & Innovators Policy Plan” that will support small businesses, entrepreneurs, innovation, and economic growth. As previously reported , over her career, the Vice President has long been committed to supporting small business and entrepreneurs.
Her campaign announcement during a speech in North Hampton, New Hampshire, at the Throwback Brewery , a women-owned business that has been in operation for more than a decade, gives us more insight into what her priorities for small business, entrepreneurs and innovators would look like. The Biden-Harris Administration has prioritized Main Streets across the country through legislation and executive orders. These efforts have led to 19 million in new recorded business applications since the start of the Biden-Harris Administration, an unprecedented number . Small businesses have also created 70% of net new U.S. jobs since 2019.
Vice President Harris’ plan calls for building on this success by setting a goal of 25 million new small-business applications during her first term. Here are the policy proposals designed to achieve it:
Tax Deductions
It takes on average about $40,000 to launch a small business for items that include market surveys, advertisements, equipment, and salaries for workers in training. However, the tax deduction for start-up expenses is currently $5,000. Vice President Harris’ plan would push for expanding this deduction to $50,000 for new small businesses to cover more of these costs and provide more flexibility on when and how they can claim it. For example, if they wait until they are bringing in profits, the deduction may be more beneficial to businesses at that time.
In addition, she has proposed a series of standard deductions for small businesses in filing taxes. An estimated one in three small business owners spend over a week filing taxes, and two in three spend at least $1,000 each year to do so. A standard deduction in the tax code akin to one available to individual filers can save the smallest businesses time and money.
iPhone 16 Release Date Latest: What To Expect When And Where
Today’s nyt mini crossword clues and answers for friday, september 6, august jobs report comes in worse than expected as labor market stays chilly.
Expanding Contract Opportunities
Vice President Harris also pledged that in her first term, one-third of all federal contract dollars will go to small businesses by expanding contract opportunities for rural and other underserved small businesses. The Small Business Administration’s current goal is for 23% of prime government contract dollars to go to eligible small businesses so this would be a significant increase. This represents an increase of more than $20 billion in revenue to small firms.
Small Business Expansion Fund
One challenge facing underserved Main Streets and communities is difficulty to attract capital. This is compounded by the fact that a small business needs time to generate the revenue needed to make initial loan payments. Vice President Harris’ plan would aim to address this by launching a small business expansion fund where community banks and Community Development Financial Institutions (CDFIs) to cover interest costs while small businesses are expanding. This fund will help small businesses who want to locate, innovate, and create jobs in communities across the United States have access to affordable capital. It also builds on the State Small Business Credit Initiative (SSBCI) 2.0, which was part of the American Rescue Plan , which provides funding to states, territories, and eligible municipalities to expand existing or to create new state small business investment programs.
Less Burdensome Regulations
The Vice President has also proposed steps to reduce bureaucracy for small business owners through efforts that include making it easier to obtain occupational licenses for workers and businesses to operate across state lines. Additionally, her plan would also create incentives for states and local governments to reduce burdensome small business regulations, such as simplifying business licensing, zoning processes, and building, public way, and health permits.
Several of the policy proposals she has outlined have already been championed by Democrats and Republicans. With that in mind, it is refreshing to see that she is already laying out her plans for job creators across the country and significant to see a presidential candidate develop an intentional strategy in support of the small businesses that play a critical role in our economic growth.
- Editorial Standards
- Reprints & Permissions
Join The Conversation
One Community. Many Voices. Create a free account to share your thoughts.
Forbes Community Guidelines
Our community is about connecting people through open and thoughtful conversations. We want our readers to share their views and exchange ideas and facts in a safe space.
In order to do so, please follow the posting rules in our site's Terms of Service. We've summarized some of those key rules below. Simply put, keep it civil.
Your post will be rejected if we notice that it seems to contain:
- False or intentionally out-of-context or misleading information
- Insults, profanity, incoherent, obscene or inflammatory language or threats of any kind
- Attacks on the identity of other commenters or the article's author
- Content that otherwise violates our site's terms.
User accounts will be blocked if we notice or believe that users are engaged in:
- Continuous attempts to re-post comments that have been previously moderated/rejected
- Racist, sexist, homophobic or other discriminatory comments
- Attempts or tactics that put the site security at risk
- Actions that otherwise violate our site's terms.
So, how can you be a power user?
- Stay on topic and share your insights
- Feel free to be clear and thoughtful to get your point across
- ‘Like’ or ‘Dislike’ to show your point of view.
- Protect your community.
- Use the report tool to alert us when someone breaks the rules.
Thanks for reading our community guidelines. Please read the full list of posting rules found in our site's Terms of Service.
BREAKING: Boeing's Starliner spacecraft lands successfully in New Mexico without a crew onboard
Main Street applauds Harris' small business plan as a tax fight looms
Entrepreneurs are cheering Vice President Kamala Harris’ plan to boost small businesses, but advocates say it foreshadows a bigger fight over the tax code.
On Wednesday, Harris unveiled policy proposals that aim to catalyze small business growth and create more slack in their balance sheets by way of several mechanisms. Those include expanding the tax deduction for startup expenses from $5,000 to $50,000, clearing barriers for owners and their employees to obtain or transfer occupational certifications, and launching a fund for community banks to expand entrepreneurs’ access to capital.
“All of that would be beneficial,” said Sherman Kyse, chef and owner of Dem Dam Burgers, a Biloxi, Mississippi-based eatery.
Yet others in the small business community are looking to next year with concern, measuring how the assumed gains from Harris’ proposal would compare to those lost should the deductions under the tax law signed by former President Donald Trump expire at the end of next year . Whether Harris or Trump wins, they will likely face a tough battle to pass tax code changes through a potentially divided Congress.
Meanwhile, during a speech on Thursday meant to sharpen his economic policy, Trump again promised to slash tax rates for businesses and corporations.
Richard Trent, executive director of Main Street Alliance, said Harris’ proposal addresses many economic concerns of the organization’s 30,000 membership nationwide, but he’s also looking ahead to 2025.
“It’s just scratching the surface of what we need to do to ensure that local economies and small business owners are protected in an environment where corporate consolidation has made the largest businesses in our country more powerful than ever before,” he said. For example, he wants to see an expansion of cash grants from the Small Business Administration so that entrepreneurs with shallower pockets can be more competitive.
Eager for a boost
For his part, Kyse, who said he plans to vote for Harris, said the extra money from the startup deduction could help support payroll, better food distributor contracts and warehouse space, a $70-per-month expense he’s so far avoided.
“My pops’ shed is completely filled with restaurant equipment,” he added.
His business has faced some tough choices of late. Despite ranking second in a major local newspaper for best burger on the coast, Kyse, 43, said grocery inflation and price-cautious patrons have forced him to whittle down both his restaurant and its menu items, which include pastas and seafood nachos. Since 2020, he’s closed three locations across Mississippi’s Gulf Coast stretch.
Revenue for 2024 stands at about $257,000, he said, down from $360,000 this time last year.
“I’m in the process of restructuring my menu to let them see the cheaper stuff on the value side,” said Kyse, who said it is his 30th menu revamp. For the most recent version — after hearing feedback that some items were too expensive — he went so far as to copy Five Guys’ menu pricing, “and nobody said nothing.”
With two months until her Election Day showdown with Trump, Harris is racing to produce more details for her economic agenda. Her small business proposals follow plans to build millions of new homes and a pledge to crack down on grocery price-gouging.
Rhett Buttle, founder and CEO of Public Private Strategies — and former economic adviser to both President Joe Biden and Harris — said the proposal shows Harris’ “deep commitment” to entrepreneurs. He also said it was a clear overture to red states as well, noting her promise to expand the State Small Business Credit Initiative, which was built out with funding from Biden's American Rescue Plan and which “Republican governors love,” he added.
“There are broad strokes here to people from all walks of life,” he said. “Small business and entrepreneurship tends to be a great unifier in a world where people have starkly different political divisions.”
Deficits and deductions
If Harris wins, it will be important for the many in the business community to see how her agenda jibes with parts of the tax code that owners and entrepreneurs already favor, including provisions made law under Trump.
Brad Close, president of the National Federation of Independent Businesses, noted the popularity among business owners of Trump’s 2017 law that allows them to deduct 20% of their qualified business income when calculating their taxes. “If the deduction is allowed to expire at the end of next year, millions of small businesses will face a massive tax hike,” he said.
The so-called pass-through deduction has been criticized as one of the most expensive parts of the tax code, with initial estimates projecting a deficit of $414.5 billion across a decade, according to the Joint Committee on Taxation. Last month, the nonpartisan Penn Wharton Budget Model said Trump's overall proposals would increase deficits five times more than Harris' would .
Harris’ small business plan is the latest example of the fine economic line she’s had to walk since her ascendancy to top of the ticket — appealing to a broad swath of moderate voters using populist policies aimed at taxing the richest Americans to spur wealth generation among the poorest.
Charlotte Chaze, 33, doesn’t need much convincing. She already plans to vote for Harris, and the recent proposal includes a number of financial wins for her two-year-old company, Break Into Tech, which sells video courses for professionals to become certified in data analytics.
A bigger tax deduction would help Chaze expand her staff beyond her current four employees. And she cheers Harris’ plan to levy a 28% tax on long-term capital gains — lower than Biden’s 39.6% proposal but still more than the current 20%.
“As a small business owner who is super successful but doesn’t make enough for the capital gains policy to affect me or my business, that policy will help transfer wealth away from people who have more than they could ever spend, meaning more people will be able to afford my product,” said Chaze, who added that she has resisted raising prices alongside competitors. “It’s just good karma to believe in people over profits.”
J.J. McCorvey is a business and economy reporter for NBC News.
Advertisement
Harris Tells the Business Community: I’m Friendlier Than Biden
The vice president on Wednesday proposed an increase on the capital gains tax that was far less than what President Biden has floated, one of several moves meant to win over business owners.
- Share full article
By Nicholas Nehamas Andrew Duehren and Reid J. Epstein
Nicholas Nehamas reported from North Hampton, N.H., and Andrew Duehren and Reid J. Epstein from Washington.
- Sept. 4, 2024
Vice President Kamala Harris on Wednesday sought to put daylight between herself and President Biden on tax policy, making it the first issue on which she is trying to stand apart from an administration in which she holds a key role.
Stepping up her efforts to win over the business community, Ms. Harris announced that she would increase the capital gains tax at a far lower rate than what Mr. Biden had proposed — a move that came after pressure from her campaign’s biggest donors to back off some of its most aggressive tax proposals.
Ms. Harris’s proposal, which she introduced at a campaign event in New Hampshire, was directed squarely at business owners and wealthier Americans who are skeptical of Democrats and have gravitated toward former President Donald J. Trump. In the same speech, she rolled out her new plan for an expanded tax break for start-ups .
Mr. Biden had proposed taxing capital gains at 39.6 percent for Americans who make more than $1 million a year. Ms. Harris said on Wednesday that she would tax investment income for those Americans at a rate of 28 percent, a reversal from her earlier support for the tax increases included in the White House budget released this spring .
“If you earn a million dollars a year or more, the tax rate on your long-term capital gains will be 28 percent under my plan,” Ms. Harris said at a brewery in North Hampton, N.H. “Because we know when the government encourages investment, it leads to broad-based economic growth and it creates jobs, which makes our economy stronger.”
Ms. Harris’s proposed rate of 28 percent does not include an additional surtax on investment income, according to two people familiar with the campaign’s proposal. One of those people said a 5 percent surtax would apply on top of the 28 percent, bringing the total rate to 33 percent. With the surtax, Mr. Biden’s proposal would have raised the top capital-gains rate to 44.6 percent. The top capital-gains tax rate now is 23.8 percent, inclusive of a 3.8 percent surtax.
We are having trouble retrieving the article content.
Please enable JavaScript in your browser settings.
Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.
Thank you for your patience while we verify access.
Already a subscriber? Log in .
Want all of The Times? Subscribe .
- Election 2024
- Entertainment
- Newsletters
- Photography
- AP Buyline Personal Finance
- AP Buyline Shopping
- Press Releases
- Israel-Hamas War
- Russia-Ukraine War
- Global elections
- Asia Pacific
- Latin America
- Middle East
- Election results
- Google trends
- AP & Elections
- U.S. Open Tennis
- Paralympic Games
- College football
- Auto Racing
- Movie reviews
- Book reviews
- Financial Markets
- Business Highlights
- Financial wellness
- Artificial Intelligence
- Social Media
Harris to propose tenfold startup tax incentive increase she says will spur small business creation
Democratic presidential nominee Vice President Kamala Harris campaigns with President Joe Biden at the IBEW Local Union #5 union hall in Pittsburgh on Labor Day, Monday, Sept. 2, 2024. (AP Photo/Susan Walsh)
- Copy Link copied
WASHINGTON (AP) — Vice President Kamala Harris plans to propose on Wednesday a tenfold increase in federal tax incentives for small business startup expenses, from $5,000 to $50,000, hoping to help spur a record 25 million new small business applications over her four-year term should she win the presidency in November .
She’s set to unveil the plan during a campaign stop in the Portsmouth area of New Hampshire — marking a rare deviation from the Midwestern and Sunbelt battlegrounds the Democrat has focused on in her race against former Republican President Donald Trump .
A Harris campaign official, who spoke on the condition of anonymity to discuss a policy plan that hadn’t been released publicly, said Tuesday the change would cover the $40,000 it costs on average to start a business. The proposal would let new businesses wait to claim that deduction until they first turn a profit, to better maximize its impact lowering their taxes.
Such changes would likely require congressional approval. But a series of tax cuts approved during the Trump administration are set to expire at the end of next year, setting up a scenario where lawmakers may be ready to consider new tax policies. The proposal can help Harris show her support for entrepreneurs even as she’s called for higher corporate tax rates.
Since President Joe Biden dropped his reelection bid and endorsed Harris in July, the vice president has focused on campaigning in the “ blue wall ” states of Michigan, Wisconsin and Pennsylvania that have been the centerpiece of Democratic campaigns that have won the White House in recent decades.
She’s also frequently visited Arizona, Nevada and Georgia, all of which Biden narrowly won in 2020, and North Carolina, which last voted Democratic in a presidential race in 2008 but which she’s still hoping to flip from Trump. Biden won New Hampshire by 7 percentage points in 2020, though Trump came far closer to winning it against Hillary Clinton in 2016.
“The cost of living in New Hampshire is through the roof, their energy bills are some of highest in the country, and their housing market is the most unaffordable in history,” Trump posted last week on his social media platform.
Harris’ team says securing 25 million new business applications in four years if she wins the White House would exceed the roughly 19 million such applications filed since Biden took office. And those were millions more than the previous four years under Trump. The vice president’s goal would be a record for new small business applications — but records only go back about 20 years.
Applications to start a business don’t always translate to small businesses actually being formed. Still, Harris’ plan could keep new small businesses that do come to fruition from otherwise incurring more debt which, at a time of high interest rates, might help them better succeed.
In the weeks since Harris took over the top of the Democratic ticket, she has offered relatively few major policy proposals — attempting to strike a political balance between injecting new energy into the race and continuing to support many of the Biden administration proposals she helped champion as vice president.
Harris’ small business plan follows her announcing last month proposed steps to fight inflation by working to lower grocery prices , and to use tax cuts and other incentives to encourage homeownership. The vice president has also proposed ending federal taxes on tips to service industry workers, an idea Trump proposed first.
What to know about the 2024 Election
- Today’s news: Follow live updates from the campaign trail from the AP.
- Ground Game: Sign up for AP’s weekly politics newsletter to get it in your inbox every Monday.
- AP’s Role: The Associated Press is the most trusted source of information on election night, with a history of accuracy dating to 1848. Learn more.
The plan she’s introducing Wednesday further calls for developing a standard deduction for small businesses meant to save their owners time when doing their taxes, and making it easier to get occupational licenses — letting people work across state lines and businesses expand into new states. Harris also wants to offer federal incentives so state and local government will ease their regulations.
In an effort to spur business investment outside urban and suburban hubs, Harris is pledging to launch a small business expansion fund to enable community banks and federal entities to cover interest costs while small businesses are expanding or otherwise creating jobs. Her team says those efforts will focus especially on areas that traditionally receive less investment.
Improvements to the park continued throughout the 18 th and 19 th centuries. Catherine the Great, after leaving her own mark on the park, moved the court to Pushkin, but Peterhof once again became the official Imperial Residence in the reign of Nicholas I, who ordered the building of the modest Cottage Palace in 1826.
Like almost all St. Petersburg's suburban estates, Peterhof was ravaged by German troops during the Second World War. It was, however, one of the first to be resurrected and, thanks to the work of military engineers as well as over 1,000 volunteers, the Lower Park opened to the public in 1945 and the facades of the Grand Palace were restored in 1952. The name was also de-Germanicized in 1944, becoming Petrodvorets, the name under which the surrounding town is still known. The palace and park are once again known as Peterhof.
We can help you make the right choice from hundreds of St. Petersburg hotels and hostels.
Live like a local in self-catering apartments at convenient locations in St. Petersburg.
Comprehensive solutions for those who relocate to St. Petersburg to live, work or study.
Maximize your time in St. Petersburg with tours expertly tailored to your interests.
Get around in comfort with a chauffeured car or van to suit your budget and requirements.
Book a comfortable, well-maintained bus or a van with professional driver for your group.
Navigate St. Petersburg’s dining scene and find restaurants to remember.
Need tickets for the Mariinsky, the Hermitage, a football game or any event? We can help.
Get our help and advice choosing services and options to plan a prefect train journey.
Let our meeting and events experts help you organize a superb event in St. Petersburg.
We can find you a suitable interpreter for your negotiations, research or other needs.
Get translations for all purposes from recommended professional translators.
Sign Up Today
Start your 14 day free trial today
History Hit Story of England: Making of a Nation
Peterhof Palace
Lucy Davidson
07 may 2021, @lucejuiceluce.
About Peterhof Palace
Peterhof Palace is a series of palaces and gardens in Peterhof, Saint Petersburg, Russia. Known as ‘The Russian Versailles ‘, the palace’s architectural style became known as Petrine Baroque.
History of Peterhof Palace
After successfully capturing provinces on the eastern coast, Peter the Great began construction of his new capital St. Petersburg in 1703.
The palace complex was commissioned by Peter the Great as a direct response to the palace of Versailles by Louis XIV of France, and as part of his desire to modernise and westernise Russia.
In 1714, Peter began the construction of Monplaisir Palace (French: ‘my delight’). Much of the palace and interior design was based upon Peter’s own sketches, with the palace serving as an intimate summer retreat. Looking to Versailles , Peter later expanded his plans to include a more vast royal château of palaces and gardens further inland, which would later become Peterhof Palace.
One of the park’s most notable features is the Grand Cascade and Samson Fountain, which was modelled upon the one constructed by Louis XIV at his Château de Marly, which is made up of a complex network of 64 fountains, and is decorated with a series of intricate and symbolic statues and sculptures.
The largest of Peterhof’s palaces is the Grand Palace, which, though imposing-looking, is not overly large, consisting of around 30 rooms. Despite its small size, the palace is full of artistic treasures – in particular, The Chesma Hall is decorated with twelve large paintings of the Battle of Chesma, a remarkable Russian naval victory of the Russo-Turkish War 1768-1774.
In 1941, German troops captured Peterhof . A bloody conflict ensued between Russian and German forces, in which time many of the fountains and part of the palace were destroyed. Rebuilding restarted immediately after the war ended, and continues to this day.
Peterhof Palace Today
Today, the palace is a popular tourist attraction, with many of its halls, ballrooms, bedrooms, private rooms which were once lived in by Peter the Great , and guest rooms being open. There are also small rooms open with exhibits from artists from Japan and Central Asia.
Many of Peter the Great’s personal pictures and possessions are also on display, such as sculptures, watches, and many other accessories.
Getting to Peterhof Palace
From the centre of St. Petersburg, the palace is reachable in around 45 minutes via the ring road. There is also an extensive connecting public transport system which runs regularly from the centre of St Petersburg.
Related Articles
10 Facts About ‘Capability’ Brown
The Founder of Feminism: Who Was Mary Wollstonecraft?
Watch and listen.
Mary Wollstonecraft with Bee Rowlatt
Unruly Elements
You may also like.
The Most Beautiful UNESCO World Heritage Sites in Russia
Historic Soviet Sites to Visit Across the Former USSR
The 8 Best UNESCO World Heritage Cities
10 of the Most Important War Museums in the World
15 of the Most Haunted Places in the World
10 Fantastic Historic Sites in Russia
Rasputin Museum, Yusupov Palace
The Winter Palace
The Kremlin
St Isaac’s Cathedral
Kazan Cathedral
Balaklava battlefield.
Church of the Saviour on Spilled Blood
- Skip to primary navigation
- Skip to main content
Traveling to Russia and beyond
The Palaces and Gardens of Peterhof, a must-go site in St. Petersburg
Last Updated on January 6, 2024 by Irena Domingo
The Peterhof complex consists of a set of palaces and gardens that are in the Gulf of Finland (about 30 kilometers west of St. Petersburg) and until 1917 were the residence of the czars. They are known as the “Russian Versailles” and are an UNESCO World Heritage site. If you travel to St. Petersburg, this visit is a must-do. In this article I’ll explain you what to look for, how to get there and how to buy tickets online to avoid lines.
I'm going to talk about ...
Introduction
Palaces and museums, gardens and fountains, 2. the services in peterhof complex, arriving by land to peterhof, arriving by sea to peterhof, 4. purchasing tickets online to avoid lines.
If you are travelling to St. Petersburg, a visit you can’t miss is Peterhof , known as the “Russian Versailles”, which consists of a series of palaces and gardens that were the residence of the czars.
In this article I will try to explain what to see in this complex, how to get there (since it is located about 30 kilometers from St. Petersburg), where to eat and how to buy tickets online to avoid lines in the summer season .
About Irena Domingo
Hello, my name is Irena. I was born in Russia in 1974 during the Soviet era. I worked as a Russian teacher and as a translator and interpreter for the past 30 years. One of my main hobbies is traveling. I started this blog with one aim: to create the most comprehensive guide ever written for traveling to Russia and beyond. Author of the Russia Guidebook 2024 (PDF)
Facebook | Twitter | Instagram | Russiable Community
Leave a comment…
If you have any comments, questions or concerns about the article you just read, join the Russiable Community to get answers or to leave your opinions or comments.
Discover more
Discover the latest MyICAEW app for ACA students and members, available to download now. Find out more
- Benefits of membership
Gain access to world-leading information resources, guidance and local networks.
- Visit Benefits of membership
Becoming a member
98% of the best global brands rely on ICAEW Chartered Accountants.
- Visit Becoming a member
- Pay fees and subscriptions
Your membership subscription enables ICAEW to provide support to members.
Fees and subscriptions
Member survey.
We have partnered with Truth Consulting to conduct a comprehensive study on the needs of ICAEW members.
- Find out more
Member rewards
Take advantage of the range of value added or discounted member benefits.
- Member rewards – More from your membership
- Technical and ethics support
- Support throughout your career
Information and resources for every stage of your career.
From software start-ups to high-flying airlines and high street banks, 98% of the best global brands rely on ICAEW Chartered Accountants. A career as an ICAEW Chartered Accountant means the opportunity to work in any organisation, in any sector, whatever your ambitions.
Everything you need to know about ICAEW annual membership fees, community and faculty subscriptions, eligibility for reduced rates and details of how you can pay.
Membership administration
Welcome to the ICAEW members area: your portal to members'-only content, offers, discounts, regulations and membership information.
- Membership regulations
Members are required to supply certain information to the members’ registrar and to pay annual fees and subscriptions. These matters are governed by regulations.
- Continuing Professional Development (CPD)
Continuing Professional Development (CPD) is an integral part of being a successful ICAEW Chartered Accountant.
The ICAEW Chartered Accountant qualification, the ACA, is one of the most advanced learning and professional development programmes available. It is valued around the world in business, practice and the public sector.
ACA for employers
Train the next generation of chartered accountants in your business or organisation. Discover how your organisation can attract, train and retain the best accountancy talent, how to become authorised to offer ACA training and the support and guidance on offer if you are already providing training.
Digital learning materials via BibliU
All ACA, ICAEW CFAB and Level 4 apprenticeship learning materials are now digital only. Read our guide on how to access your learning materials on the ICAEW Bookshelf using the BibliU app or through your browser.
Take a look at ICAEW training films
Focusing on professional scepticism, ethics and everyday business challenges, our training films are used by firms and companies around the world to support their in-house training and business development teams.
Attract and retain the next generation of accounting and finance professionals with our world-leading accountancy qualifications. Become authorised to offer ACA training and help your business stay ahead.
CPD guidance and help
Continuing Professional Development (CPD) is an integral part of being a successful ICAEW Chartered Accountant. Find support on ICAEW's CPD requirements and access resources to help your professional development.
ICAEW flagship events
ICAEW boasts an extensive portfolio of industry-leading conferences. These flagship events offer the opportunity to hear from and interact with all the key players in the industry. Find out what's coming up.
Leadership Development Programmes
ICAEW Academy’s in-depth leadership development programmes take a holistic approach to combine insightful mentoring or coaching, to exclusive events, peer learning groups and workshops. Catering for those significant transitions in your career, these leadership development programmes are instrumental to achieving your ambitions or fulfilling your succession planning goals.
Specialist Finance Qualifications & Programmes
Whatever future path you choose, ICAEW will support the development and acceleration of your career at each stage to enhance your career.
Why a career in chartered accountancy?
If you think chartered accountants spend their lives confined to their desks, then think again. They are sitting on the boards of multinational companies, testifying in court and advising governments, as well as supporting charities and businesses from every industry all over the world.
- Why chartered accountancy?
Search for qualified ACA jobs
Matching highly skilled ICAEW members with attractive organisations seeking talented accountancy and finance professionals.
Volunteering roles
Helping skilled and in-demand chartered accountants give back and strengthen not-for-profit sector with currently over 2,300 organisations posting a variety of volunteering roles with ICAEW.
- Search for volunteer roles
- Get ahead by volunteering
Advertise with ICAEW
From as little as £495, access to a pool of highly qualified and ambitious ACA qualified members with searchable CVs.
Early careers and training
Start your ACA training with ICAEW. Find out why a career in chartered accountancy could be for you and how to become a chartered accountant.
Qualified ACA careers
Find Accountancy and Finance Jobs
Voluntary roles
Find Voluntary roles
While you pursue the most interesting and rewarding opportunities at every stage of your career, we’re here to offer you support whatever stage you are or wherever you are in the world and in whichever sector you have chosen to work.
ACA students
"how to guides" for aca students.
- ACA student guide
- How to book an exam
- How to apply for credit for prior learning (CPL)
Exam resources
Here are some resources you will find useful while you study for the ACA qualification.
- Certificate Level
- Professional Level
- Advanced Level
Digital learning materials
All ACA learning materials are now digital only. Read our guide on how to access your learning materials on the ICAEW Bookshelf via the BibliU app, or through your browser.
- Read the guide
My online training file
Once you are registered as an ACA student, you'll be able to access your training file to log your progress throughout ACA training.
- Access your training file
- Student Insights
Fresh insights, innovative ideas and an inside look at the lives and careers of our ICAEW students and members.
- Read the latest articles
System status checks
Getting started.
Welcome to ICAEW! We have pulled together a selection of resources to help you get started with your ACA training, including our popular 'How To' series, which offers step-by-step guidance on everything from registering as an ACA student and applying for CPL, to using your online training file.
Credit for prior learning (CPL)
Credit for prior learning or CPL is our term for exemptions. High quality learning and assessment in other relevant qualifications is appropriately recognised by the award of CPL.
Apply for exams
What you need to know in order to apply for the ACA exams.
The ACA qualification has 15 modules over three levels. They are designed to complement the practical experience you will be gaining in the workplace. They will also enable you to gain in-depth knowledge across a broad range of topics in accountancy, finance and business. Here are some useful resources while you study.
- Exam results
You will receive your results for all Certificate Level exams, the day after you take the exam and usually five weeks after a Professional and Advanced Level exam session has taken place. Access your latest and archived exam results here.
Training agreement
Putting your theory work into practice is essential to complete your ACA training.
Student support and benefits
We are here to support you throughout your ACA journey. We have a range of resources and services on offer for you to unwrap, from exam resources, to student events and discount cards. Make sure you take advantage of the wealth of exclusive benefits available to you, all year round.
- Applying for membership
The ACA will open doors to limitless opportunities in all areas of accountancy, business and finance anywhere in the world. ICAEW Chartered Accountants work at the highest levels as finance directors, CEOs and partners of some of the world’s largest organisations.
ACA training FAQs
Do you have a question about the ACA training? Then look no further. Here, you can find answers to frequently asked questions relating to the ACA qualification and training. Find out more about each of the integrated components of the ACA, as well as more information on the syllabus, your training agreement, ICAEW’s rules and regulations and much more.
- Anti-money laundering
Guidance and resources to help members comply with their legal and professional responsibilities around AML.
Technical releases
ICAEW Technical Releases are a source of good practice guidance on technical and practice issues relevant to ICAEW Chartered Accountants and other finance professionals.
- ICAEW Technical Releases
- Thought leadership
ICAEW's Thought Leadership reports provide clarity and insight on the current and future challenges to the accountancy profession. Our charitable trusts also provide funding for academic research into accountancy.
- Academic research funding
Technical Advisory Services helpsheets
Practical, technical and ethical guidance highlighting the most important issues for members, whether in practice or in business.
- ICAEW Technical Advisory Services helpsheets
Bloomsbury – free for eligible firms
In partnership with Bloomsbury Professional, ICAEW have provided eligible firms with free access to Bloomsbury’s comprehensive online library of around 80 titles from leading tax and accounting subject matter experts.
- Bloomsbury Accounting and Tax Service
Country resources
Our resources by country provide access to intelligence on over 170 countries and territories including economic forecasts, guides to doing business and information on the tax climate in each jurisdiction.
Industries and sectors
Thought leadership, technical resources and professional guidance to support the professional development of members working in specific industries and sectors.
Audit and Assurance
The audit, assurance and internal audit area has information and guidance on technical and practical matters in relation to these three areas of practice. There are links to events, publications, technical help and audit representations.
The most up-to-date thought leadership, insights, technical resources and professional guidance to support ICAEW members working in and with industry with their professional development.
- Corporate Finance
Companies, advisers and investors making decisions about creating, developing and acquiring businesses – and the wide range of advisory careers that require this specialist professional expertise.
- Corporate governance
Corporate governance is the system by which companies are directed and controlled. Find out more about corporate governance principles, codes and reports, Board subcommittees, roles and responsibilities and shareholder relations. Corporate governance involves balancing the interests of a company’s many stakeholders, such as shareholders, employees, management, customers, suppliers, financiers and the community. Getting governance right is essential to build public trust in companies.
Corporate reporting
View a range of practical resources on UK GAAP, IFRS, UK regulation for company accounts and non-financial reporting. Plus find out more about the ICAEW Corporate Reporting Faculty.
Expert analysis on the latest national and international economic issues and trends, and interviews with prominent voices across the finance industry, alongside data on the state of the economy.
- Financial Services
View articles and resources on the financial services sector.
- Practice resources
For ICAEW's members in practice, this area brings together the most up-to-date thought leadership, technical resources and professional guidance to help you in your professional life.
Public Sector
Many ICAEW members work in or with the public sector to deliver public priorities and strong public finances. ICAEW acts in the public interest to support strong financial leadership and better financial management across the public sector – featuring transparency, accountability, governance and ethics – to ensure that public money is spent wisely and that public finances are sustainable.
Sustainability and climate change
Sustainability describes a world that does not live by eating into its capital, whether natural, economic or social. Members in practice, in business and private individuals all have a role to play if sustainability goals are to be met. The work being undertaken by ICAEW in this area is to change behaviour to drive sustainable outcomes.
The Tax area has information and guidance on technical and practical tax matters. There are links to events, the latest tax news and the Tax Faculty’s publications, including helpsheets, webinars and Tax representations.
Keep up-to-date with tech issues and developments, including artificial intelligence (AI), blockchain, big data, and cyber security.
Trust & Ethics
Guidance and resources on key issues, including economic crime, business law, better regulation and ethics. Read through ICAEW’s Code of Ethics and supporting information.
Communities
ICAEW Communities
Information, guidance and networking opportunities on industry sectors, professional specialisms and at various stages throughout your career. Free for ICAEW members and students.
- Discover a new community
ICAEW Faculties
The accountancy profession is facing change and uncertainty. The ICAEW Faculties can help by providing you with timely and relevant support.
- Choose to join any of the faculties
UK groups and societies
We have teams on the ground in: East of England, the Midlands, London and South East, Northern, South West, Yorkshire and Humberside, Wales and Scotland.
- Access your UK region
- Worldwide support and services
Support and services we offer our members in Africa, America, Canada, the Caribbean, Europe, Greater China, the Middle East, Oceania and South East Asia.
- Discover our services
ICAEW Faculties are 'centres of technical excellence', strongly committed to enhancing your professional development and helping you to meet your CPD requirements every year. They offer exclusive content, events and webinars, customised for your sector - which you should be able to easily record, when the time comes for the completion of your CPD declaration. Our offering isn't exclusive to Institute members. As a faculty member, the same resources are available to you to ensure you stay ahead of the competition.
Communities by industry / sector
Communities by life stage and workplace, communities by professional specialism, local groups and societies.
We aim to support you wherever in the world you work. Our regional offices and network of volunteers run events and provide access to local accounting updates in major finance centres around the globe.
Election explainers
ICAEW experts offer simple guides to help understand the technical, economic jargon that will be at the heart of political debates in the coming weeks.
Insights pulls together the best opinion, analysis, interviews, videos and podcasts on the key issues affecting accountancy and business.
- See the latest insights
ICAEW podcasts
ICAEW produces two podcast series that count towards your CPD: Accountancy Insights for news from across the profession, and The Tax Track for specialist analysis from the ICAEW Tax Faculty.
Professional development and skills
With new requirements on ICAEW members for continuing professional development, we bring together resources to support you through the changes and look at the skills accountants need for the future.
- Visit the hub
- Diversity and Inclusion
Diversity and inclusion is a key pillar of ICAEW's strategy. Discover the latest insights on equality, diversity and inclusion. You can also join our Diversity & Inclusion Community.
- Find out more on our hub
- Join the community
Insights specials
A listing of one-off Insights specials that focus on a particular subject, interviewing the key people, identifying developing trends and examining the underlying issues.
Top podcasts
Insights by topic.
ICAEW Regulation
- Regulatory News
View the latest regulatory updates and guidance and subscribe to our monthly newsletter, Regulatory & Conduct News.
- Regulatory Consultations
Strengthening trust in the profession
Our role as a world-leading improvement regulator is to strengthen trust and protect the public. We do this by enabling, evaluating and enforcing the highest standards in the profession.
Regulatory applications
Find out how you can become authorised by ICAEW as a regulated firm.
ICAEW codes and regulations
Professional conduct and complaints, statutory regulated services overseen by icaew, regulations for icaew practice members and firms, additional guidance and support, popular search results.
- Practice Exam Software
- Training File
- Ethics Cpd Course
- Routes to the ACA
- ACA students membership application
- Join as a member of another body
- How much are membership fees?
- How to pay your fees
- Receipts and invoices
- What if my circumstances have changed?
- Difficulties in making changes to your membership
- Faculty and community subscription fees
- Updating your details
- Complete annual return
- Promoting myself as an ICAEW member
- Verification of ICAEW membership
- Become a life member
- Become a fellow
- Request a new certificate
- Report the death of a member
- Practising certificates
- Advancement to fellowship regulations
- Regulations relating to membership cessation, readmission and resignation
- ICAEW's guide to directors' duties and responsibilities
- Information to be supplied by members
- Payment of annual subscription
- Power to change subscription fees
- New members
- Career progression
- Career Breakers
- Volunteering at schools and universities
- ICAEW Member App
- Working internationally
- Self employment
- Support Members Scheme
- Your guide to CPD
- CPD learning resources
- Online CPD record
- How to become a chartered accountant
- Register as a student
- Train as a member of another body
- More about the ACA and chartered accountancy
- How ACA training works
- Become a training employer
- Access the training file
- Why choose the ACA
- Training routes
- Employer support hub
- Get in touch
- Apprenticeships with ICAEW
- A-Z of CPD courses by topic
- Firms' guide to CPD
- ICAEW Business and Finance Professional (BFP)
- ICAEW Annual Conference 2024
- Restructuring & Insolvency Conference
- Virtual CPD Conference
- Virtual Healthcare Conference 2024
- All our flagship events
- Financial Talent Executive Network (F-TEN®)
- Developing Leadership in Practice (DLiP™)
- Network of Finance Leaders (NFL)
- Women in Leadership (WiL)
- Mentoring and coaching
- Partners in Learning
- Board Director's Programme e-learning
- Corporate Finance Qualification
- Diploma in Charity Accounting
- ICAEW Certificate in Insolvency
- ICAEW Data Analytics Certificate
- Financial Modeling Institute’s Advanced Financial Modeler Accreditation
- ICAEW Sustainability Certificate for Finance Professionals
- ICAEW Finance in a Digital World Programme
- All specialist qualifications
- Team training
- Start your training
- Improve your employability
- Search employers
- Find a role
- Role alerts
- Organisations
- Practice support – 11 ways ICAEW and CABA can help you
- News and advice
- ICAEW Volunteering Hub
- Support in becoming a chartered accountant
- Vacancies at ICAEW
- ICAEW boards and committees
- Exam system status
- ICAEW systems: status update
- Changes to our qualifications
- How-to guides for ACA students
- Apply for credits - Academic qualification
- Apply for credits - Professional qualification
- Credit for prior learning (CPL)/exemptions FAQs
- Applications for Professional and Advanced Level exams
- Applications for Certificate Level exams
- Tuition providers
- Latest exam results
- Archived exam results
- Getting your results
- Marks feedback service
- Exam admin check
- Training agreement: overview
- Professional development
- Ethics and professional scepticism
- Practical work experience
- Access your online training file
- How training works in your country
- Student rewards
- TOTUM PRO Card
- Student events and volunteering
- Xero cloud accounting certifications
- Student support
- Join a community
- Wellbeing support from caba
- Student mentoring programme
- Student conduct and behaviour
- Code of ethics
- Fit and proper
- Level 4 Accounting Technician Apprenticeship
- Level 7 Accountancy Professional Apprenticeship
- AAT-ACA Fast Track FAQs
- ACA rules and regulations FAQs
- ACA syllabus FAQs
- ACA training agreement FAQs
- Audit experience and the Audit Qualification FAQs
- Independent student FAQs
- Practical work experience FAQs
- Professional development FAQs
- Six-monthly reviews FAQs
- Ethics and professional scepticism FAQs
- Greater China
- Latin America
- Middle East
- North America
- Australasia
- Russia and Eurasia
- Southeast Asia
- Charity Community
- Construction & Real Estate
- Energy & Natural Resources Community
- Farming & Rural Business Community
- Forensic & Expert Witness
- Global Trade Community
- Healthcare Community
- Internal Audit Community
- Manufacturing Community
- Media & Leisure
- Portfolio Careers Community
- Small and Micro Business Community
- Small Practitioners Community
- Travel, Tourism & Hospitality Community
- Valuation Community
- Audit and corporate governance reform
- Audit & Assurance Faculty
- Professional judgement
- Regulation and working in audit
- Internal audit resource centre
- ICAEW acting on audit quality
- Everything business
- Latest Business news from Insights
- Strategy, risk and innovation
- Business performance management
- Financial management
- Finance transformation
- Economy and business environment
- Leadership, personal development and HR
- Webinars and publications
- Business restructuring
- The Business Finance Guide
- Capital markets and investment
- Corporate finance careers
- Corporate Finance Faculty
- Debt advisory and growth finance
- Mergers and acquisitions
- Private equity
- Start-ups, scale-ups and venture capital
- Transaction services
- Board committees and board effectiveness
- Corporate governance codes and reports
- Corporate Governance Community
- Principles of corporate governance
- Roles, duties and responsibilities of Board members
- Stewardship and stakeholder relations
- Corporate Governance thought leadership
- Corporate reporting resources
- Small and micro entity reporting
- IFRS Accounting Standards
- UK Regulation for Company Accounts
- Non-financial reporting
- Improving Corporate Reporting
- Economy home
- ICAEW Business Confidence Monitor
- ICAEW Manifesto 2024
- Economy explainers
- Spring Budget 2024
- Energy crisis
- Levelling up: rebalancing the UK’s economy
- Resilience and Renewal: Building an economy fit for the future
- Social mobility and inclusion
- Investment management
- Inspiring confidence
- Setting up in practice
- Running your practice
- Supporting your clients
- Practice technology
- TAS helpsheets
- Support for business advisers
- Join ICAEW BAS
- Public Sector hub
- Public Sector Audit and Assurance
- Public Sector Finances
- Public Sector Financial Management
- Public Sector Financial Reporting
- Public Sector Learning & Development
- Public Sector Community
- Latest public sector articles from Insights
- Making COP count
- Climate hub
- Sustainable Development Goals
- Accountability
- Modern slavery
- Resources collection
- Sustainability Committee
- Sustainability & Climate Change community
- Sustainability and climate change home
- Tax Faculty
- Budgets and legislation
- Business tax
- Devolved taxes
- Employment taxes
- International taxes
- Making Tax Digital
- Personal tax
- Property tax
- Stamp duty land tax
- Tax administration
- Tax compliance and investigation
- UK tax rates, allowances and reliefs
- Artificial intelligence
- Blockchain and cryptoassets
- Cyber security
- Data Analytics Community
- Digital skills
- Excel community
- Finance in a Digital World
- IT management
- Technology and the profession
- Trust & Ethics home
- Better regulation
- Business Law
- UK company law
- Data protection and privacy
- Economic crime
- Help with ethical problems
- ICAEW Code of Ethics
- ICAEW Trust and Ethics team.....
- Solicitors Community
- Forensic & Expert Witness Community
- Latest articles on business law, trust and ethics
- Audit and Assurance Faculty
- Corporate Reporting Faculty
- Financial Services Faculty
- Academia & Education Community
- Construction & Real Estate Community
- Entertainment, Sport & Media Community
- Retail Community
- Black Members Community
- Career Breakers Community
- Diversity & Inclusion Community
- Women in Finance Community
- Personal Financial Planning Community
- Restructuring & Insolvency Community
- Sustainability and Climate Change Community
- London and East
- Yorkshire and Humberside
- European public policy activities
- ICAEW Middle East
- Latest news
- The World’s Fastest Accountant
- Access to finance special
- Attractiveness of the profession
- Audit and Fraud
- Audit and technology
- Adopting non-financial reporting standards
- Cost of doing business
- Mental health and wellbeing
- Pensions and Personal Finance
- Ukraine crisis: central resource hub
- More specials ...
- The economics of biodiversity
- How chartered accountants can help to safeguard trust in society
- Video: The financial controller who stole £20,000 from her company
- It’s time for chartered accountants to save the world
- Video: The CFO who tried to trick the market
- Video: Could invoice fraud affect your business?
- Business confidence, local authority finance, probate delays, and tax reform
- Why are female-led startups so underfunded?
- How to get Britain growing
- Groupthink: the boardroom’s most pervasive problem?
- Corporate reporting update and VAT on private hire vehicles
- AI in audit: the good, the bad and the ugly
- Company size thresholds and CGT on residences
- Lessons in leadership from ICAEW's CEO
- So you want to be a leader?
- A busy new tax year, plus progress on the Economic Crime Act
- Does Britain have a farming problem?
- More podcasts...
- Top charts of the week
- EU and international trade
- CEO and President's insights
- Sponsored content
- Insights index
- Charter and Bye-laws
- Archive of complaints, disciplinary and fitness processes, statutory regulations and ICAEW regulations
- Qualifications regulations
- Training and education regulations
- How to make a complaint
- Guidance on your duty to report misconduct
- Public hearings
- What to do if you receive a complaint against you
- Anti-money laundering supervision
- Working in the regulated area of audit
- Local public audit in England
- Probate services
- Designated Professional Body (Investment Business) licence
- Consumer credit
- Quality Assurance monitoring: view from the firms
- The ICAEW Practice Assurance scheme
- Licensed Practice scheme
- Professional Indemnity Insurance (PII)
- Clients' Money Regulations
- Taxation (PCRT) Regulations
- ICAEW training films
- Helpsheets and guidance by topic
- ICAEW's regulatory expertise and history
- Regulatory and Conduct news April 2024
PII requirements: What changed on 1 September 2024?
Webinar recording, assessing the impact.
- Proposals being taken forward
Proposals to be withdrawn
- Timeline and preparing for the changes
ICAEW and members of our PII Committee explain the detail of the changes in our webinar.
Allow video content provided by StreamAMG
This video content is provided by StreamAMG. We ask for your permission before anything is loaded, as they are using cookies and other technologies. You may want to read StreamAMG owner's PA Media Group privacy policy before accepting. If you are happy to view this content, please choose Allow all cookies .
We want to avoid making changes that reduce the number of participating insurers as this could negatively impact competition or introduce measures that adversely affect the availability of insurance. We also want to maintain the viability of the Assigned Risk Pool , which offers insurance to firms who are unable to source open market cover.
The proposals being adopted will likely benefit both firms and consumers. The requirement that the minimum limits of indemnity are increased should ensure that there is a larger amount available for payment of claims and should reduce the likelihood of underinsurance.
Proposals taken forward
Having reflected on the consultation feedback, the proposals taken forward (some have been modified accordingly) are:
| Summary of the main changes | Regulation |
| Generally, firms will be required to have a | 3.2 |
| For firms with less than £800k in fee income, the minimum limit will be equal , with a minimum of £250,000 (an increase from £100k). | 3.3 |
| If a they will not be required to put in place qualifying insurance, but will need to have in place appropriate arrangements to ensure they are able to meet claims arising from being in public practice. | New- 3.8 and 2.5 |
| For firms required to put in place qualifying insurance, the will not exceed the higher of £3,000 or 3% of a firm’s fee income. | 3.7 |
| Firms insuring in a can be treated as a single entity for the purposes of the PII Regulations providing that they meet certain criteria. | New- 3.9 |
| Members and firms should use ’ to put in place run-off cover. Firms are still required to have cover for two years, they then must take all reasonable steps to ensure cover is in place for a further four years. | 2.7 and 2.8 |
| The guidance relating to has been updated and a fee will be introduced for firms making an application. | 5.3 and Appendix B |
| The regulations and guidance have been reviewed and to ensure they are clear and easier to understand. | All |
- Read the Professional Indemnity Insurance Regulations, effective from 1 September 2024
The following proposals were consulted on, but did not form part of the changes that were introduced on 1 September 2024.
- The proposal to extend run-off cover to six years, and to make it non-cancellable for non-payment of premium, is being withdrawn. The current arrangements relating to run-off cover (except the removal of ‘best endeavours’) will be maintained. There was strong opposition to this proposal and the PII Committee felt there was insufficient data to justify introducing this change given the potential impact on the market.
- The proposal that insurers should meet any unpaid excess is also being withdrawn. There is little evidence that this is currently a significant problem and the amount a firm can take as an excess is already capped at an aggregate amount.
- The proposal relating to flexibility for defence costs and the excess is not being taken forward. The PII Committee considered that the current arrangements work well and offer a useful protection for firms.
- Read a summary of the consultation responses
The updated regulations came into effect on 1 September 2024.
There will be a transitional period and the new requirements relating to minimum limits and excess will only apply to new policies once a firm renews its insurance after 1 September 2024.
The new requirements will apply to all firms from 1 September 2025.
We encourage firms to speak with their broker and to consider any further information that may be required to process their renewal for the 2024/2025 policy year.
PII changes FAQs
Read our FAQs to help understand the changes and assess whether you will need to make changes to your firm’s professional indemnity insurance.
Frequently asked questions
We have set out responses to some FAQs to help you understand the changes
Add Verified CPD Activity
Introducing AddCPD, a new way to record your CPD activities!
Add this page to your cpd activity, step 1 of 3, download recorded, download not recorded.
Please download the related document if you wish to add this activity to your record
Step 2 of 3
Add activity to my record, step 3 of 3, activity added, an error has occurred please try again.
Read out this code to the operator.
IMAGES
VIDEO
COMMENTS
In the Business Planning: Taxation exam, you will apply technical knowledge and professional skills to identify and resolve taxation issues that arise in the context of preparing tax computations and to advise on tax-efficient strategies for businesses and individuals. The exam is 2.5 hours and will consist of three questions covering a range ...
Chapter containing tax planning advice on extracting funds, written for anyone who advises or runs a family or owner-managed company. ... Audit reform, local audit and business rates: ICAEW's priorities for Labour . Article; 05 Jul 2024; With a clear mandate to govern, Sir Keir Starmer's Labour party must take swift action to encourage ...
Hey! Here are my tips on how to pass the BUSINESS PLANNING: TAX (BPT) ICAEW ACA exam.Check out the notes I used that helped me pass BPT: https://www.etsy.com...
FA2023 & BPT workbook changes •The LMs reflect the tax rates, allowances and rules to be used throughout 2024 exams. •The workbook has been restructured and there are now upfront sections on Tax Compliance revision •There is a summary of FA2023 Finance Act changes in response to feedback •New sections in the workbook on; • - Cryptocurrency in the context of individuals and ...
The Business Planning: Taxation module covers the following topics: ethics and law; taxation of corporate entities; taxation of owner-managed businesses; personal taxation; Ensure you order the correct edition of the materials. The 2023 edition is aligned with the syllabus and exams for 2023 only.
How to pass the #ICAEW #ACA Business Planning Tax (#BPT) exam with our prize-winning Senior ACA Tutor Kieran Doe.The other classes from the #businessplanning...
Learn how to pass the ACA BPT exam with our ICAEW prize-winning tutor Kieran Doe. The full course can be viewed at: https://www.acamasters.com/business-plann...
ICAEW prize-winning ACA BPT tutor who provides London courses, online courses, video classes, private tuition, open book notes. ... Business Planning: Tax (BPT) Our BPT tuition is extremely exam focused and once a topic has been taught, we will develop your exam technique by teaching you the most effective way to answer exam questions on that ...
The ICAEW Business Planning: Taxation (BPT) exam focuses on the importance of taxation knowledge in business planning within a professional context. This includes a thorough grasp of tax strategies, applying tax laws to business scenarios, evaluating tax implications for business decisions, and understanding the key role of taxation in strategic business planning and financial management.
SummaryThis article offers our top five tips on how to pass the ACA Business Planning: Tax (BPT) exam. The advice contained in this article is taught as part of our popular BPT course which has seen several attendees scored over 90% in the BPT exam. Written by an ACA tutor who won multiple ICAEW prizes as a student, including one for Tax, this is a must read for any student preparing for their ...
A guide to writing business plans for non-specialists. Contains sections on the structuring a business plan, researching the market, forecasting, risk measurement, legal issues and confidentiality, selling a business, and using a business plan to improve performance. Exclusive How to write reports and proposals. eBook.
Business Planning Tax (BPT) You'll learn how to resolve tax issues and advise on tax-efficient solutions for individuals and businesses. You'll use your knowledge to explain alternative tax solutions, considering the clients and commercial context. Number of lessons: Classroom: 7 days (Tuition*) and 4 days (Exam Preparation)
ACA Professional. The Professional Level builds on your Certificate Level knowledge, and teaches you how to apply technical knowledge to real-life scenarios. The Business Planning exams give you the opportunity to gain a sector-specific understanding while studying. There are three Business Planning units to choose from: Taxation, Banking, and ...
Additionally, her plan would also create incentives for states and local governments to reduce burdensome small business regulations, such as simplifying business licensing, zoning processes, and ...
Full details for the course, including a FREE SAMPLE class, can be found at https://www.acamasters.com/business-planning-tax
Vice President Kamala Harris is about to propose a tenfold increase in federal tax incentives for small business startup expenses, from $5,000 to $50,000, hoping it will help spur a record 25 ...
Main Street applauds Harris' small business plan as a tax fight looms. The vice president's campaign proposals preview wrangling over big parts of Trump's tax law that are set to expire in 2025.
"If you earn a million dollars a year or more, the tax rate on your long-term capital gains will be 28 percent under my plan," Ms. Harris said at a brewery in North Hampton, N.H.
WASHINGTON (AP) — Vice President Kamala Harris used a campaign stop in New Hampshire on Wednesday to propose an expansion of tax incentives for small businesses, a pro-entrepreneur plan that may soften her previous calls for wealthy Americans and large corporations to pay higher taxes.. Describing small businesses as "an essential foundation to our entire economy," Harris said she wants ...
WASHINGTON (AP) — Vice President Kamala Harris plans to propose on Wednesday a tenfold increase in federal tax incentives for small business startup expenses, from $5,000 to $50,000, hoping to help spur a record 25 million new small business applications over her four-year term should she win the presidency in November.. She's set to unveil the plan during a campaign stop in the Portsmouth ...
Format: 3 questions. Syllabus breakdown: Strategic analysis (30-40%) Strategic choice (30-40%) Implementation and monitoring of strategy (25-35%) The inside track. From Nick Ryan, BPP. The pass mark tends to be high for Business Strategy and Technology, but that doesn't mean it's an easy exam. Elements of the syllabus is covered in Business ...
You definitely can pass this exam, have faith! Full blog: https://jagsjourney.blog/2021/04/15/hardest-aca-exam-professional-bpt/00:00 Intro00:52 What is BPT ...
Saint Petersburg Shredding - (727)286-3595. When it comes to Florida mobile shredding Legal Shred Inc. is the place to go. With the most advanced shredding equipment on the market today Legal Shred can visit your location and shred 10 boxes in 3 minutes.
Peterhof (Petrodvorets) One of St. Petersburg's most famous and popular visitor attractions, the palace and park at Peterhof (also known as Petrodvorets) are often referred to as "the Russian Versailles", although many visitors conclude that the comparison does a disservice to the grandeur and scope of this majestic estate.
Peterhof Palace is a series of palaces and gardens in Peterhof, Saint Petersburg, Russia. Known as 'The Russian Versailles', the palace's architectural style became known as Petrine Baroque.. History of Peterhof Palace. After successfully capturing provinces on the eastern coast, Peter the Great began construction of his new capital St. Petersburg in 1703.
Peterhof (Russian Петергоф or Петергоф, Petergof) is a town within the Petrodvortsovy district in St. Petersburg, at the shore of the Gulf of Finland, located about 30 kilometers west of St. Petersburg. This small town is famous because in it you will find the palaces and gardens of Peterhof, created by order of Peter the Great.
The ICAEW Chartered Accountant qualification, the ACA, is one of the most advanced learning and professional development programmes available. ... Accountancy Insights for news from across the profession, and The Tax Track for specialist analysis from the ICAEW Tax Faculty. Listen now; ... For open book exams such as Business Planning and ...
Last year, the ICAEW Regulatory Board, working collaboratively with the Professional Indemnity Insurance Committee (PIIC), launched a review of ICAEW's insurance requirements. A consultation relating to proposed changes ran between 18 October and 14 December 2023. Following careful consideration of the feedback we received, some of the proposals were taken forward and came into effect on 1 ...