UK Owning majority stake in Accounting Firm if you are not a Chartered Accountant?

[JamesRichards86]

Hi there,

I am thinking about starting an accounting firm with a uni friend, where we are going to split the equity 60% (since I am going to invest the most money upfront for the business) for me and 40% for me, however, I have the majority of the equity but I am not a chartered accountant but on the other hand the other director is a chartered accountant.

I was wondering if legally we can do this in the UK with ACCA's strict compliance rules.

Regards,

James

 

[Drmdcpa]

In the USA you cannot because that would give you higher authority over the licensed accountant

 

[Drmdcpa]

I need to clarify, you can establish a business in the USA wherein non-licensed persons are majority owners that employ licensed individuals. But the firm cannot be licensed or advertise itself in any way to give the idea that it is a licensed firm.