Changes to your membership fees for 2023
Following a two-year freeze, ICAS membership and regulatory fees will see a small increase for 2023. The rise will allow for ongoing investment and ensure that our Members and firms continue to receive the highest levels of service.
Two years of frozen fees
Throughout the pandemic, we worked hard to match the effort and resilience of you, our Members. As you would expect from your professional body, we continued to deliver the technical guidance and resources you rely on, and rapidly adapted everything from our events to our practice support, regulatory activity and your CA magazine to the digital-first ‘new normal’.
In addition, we provided the specific assistance required to help individual CAs, and the profession itself, navigate a path through the period’s particular challenges. For extra reassurance through those uncertain times, we also froze your membership and regulatory fees at their 2020 level and held them there throughout 2021 and 2022.
Investment in the face of new challenges
Whilst the pandemic and its challenges are hopefully behind us, new challenges have already arisen.
Accumulative impacts including the war in Ukraine, the increased cost of energy, the climate crisis and Brexit have led to accelerating costs, inflationary pressures and global forecasts of economic downturn.
These impacts may already be affecting you, your firms, the sectors you support, businesses you lead and the communities in which you live and work.
Of course, ICAS itself is not immune to these pressures. That’s why, whilst we strive to reduce costs wherever possible, membership fees will increase by 5% for 2023. All regulatory fees will increase by the same amount.
The change represents a £25 rise in the cost of membership and is the first such increase since 2020. It’s a relatively small amount but it will go a long way and ensure you remain supported, protected and championed at the highest levels through 2023 and beyond. It will allow ICAS to continue providing the best practical resources and technical guidance and innovating with new products such as our Career Mentoring Programme and the award-winning CA Summit. It will help maintain our investment in the future of the profession and bolster efforts to protect the global reputation of your CA designation.
Indy explains how ICAS is continuing to invest in services and support
Indy Singh Hothi CA, ICAS President, explains why the rise is required and how it will be invested in services and support for you.
Extra help with paying your fees
Once again, for 2023 membership fees you’ll be able to take advantage of Direct Debit payment options and spread the cost over either four- or twelve-monthly instalments.
We also recognise that for some of our Members, 2022 may have been a particularly challenging year. That’s why, if your income has been significantly lower than expected you may be able to apply for a reduced rate. And if you are currently experiencing severe financial hardship or ill-health, we may be able to offer a special waiver.
Membership Annual Renewal opens in November
We’ll be in touch in the next few weeks with more information on our reduced rates and waiver and asking you to review your payment options ahead of the 2023 membership Annual Renewal, which opens in November 2022.
Further information and FAQs
In the meantime, if you have any questions, please refer to our FAQs below or, if you can’t find the answer you need there, please get in touch with us on +44 (0)131 347 0100 or at members@icas.com.
Why are my membership and regulatory fees increasing?
To help the continued delivery of our first-class professional support and guidance, to allow ICAS to invest in adapting and introducing new products and services, to maintain high-quality regulations, and to help ensure a safe future for the profession.
How much will my fees increase by?
Fees will increase by 5% (or £25). This is the first increase in our membership and regulatory fees since 2020.
How much will my membership cost for 2023?
If on 1 January 2023 you will be under 65 years of age you will pay £520 for a full-rate membership.
When will the increase take effect?
The increase will take effect on 1 January 2023 and apply to your 2023 membership. Annual Renewal for 2023 membership will open in November 2022.
Can I pay in instalments?
Our Direct Debit options allow you to pay for your membership fee in four- or twelve-monthly instalments. You can select either of these options when completing the Annual Renewal payment process.
What if I can’t afford to pay my membership fees?
If your income this year has been significantly lower than expected, you may be able to apply for a reduced rate. If you are facing severe financial hardship, we may be able to offer a special waiver. We will be in touch during October with more information on how to apply.
What if I am ill and unable to work?
If you are experiencing severe ill-health, we may be able to offer a special waiver. We will be in touch during October with more information on how to apply.
When do I need to pay my fees by?
Annual Renewal for 2023 membership opens in November 2022 and we’ll be in touch with more information then. The deadline for payment will be 1 January 2023 but you can spread your fees over up to 12 monthly instalments. Timescales for payment of regulatory fees will be confirmed at the point of invoicing.
I have just become a Member, do I need to pay the increase?
If you were admitted to membership after 30 September 2022, and have already paid your 2023 subscription fees, you will not be required to complete the 2023 Annual Renewal and so won’t pay more.
Do I still pay if I’m retired?
You won’t have to pay for 2023 membership if you will be aged 65 years or over on 1 January 2023.