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India–UK FTA: A New Gateway for Indian CAs to Enter the UK Market

Created By : Shubham Dixit
One Credential, Two Countries: Indian CAs Can Now Join UK Bodies Without Requalifying.
 
On July 24, 2025, India and the UK signed a landmark Free Trade Agreement (FTA), which stands to deepen economic relations between both countries. The development provides a glimpse of a much higher degree of economic and professional engagement that is set to transform relations between the two countries. Perhaps the most significant development for Indian professionals is the Mutual Recognition Agreements (MRAs) between the Institute of Chartered Accountants of India (ICAI) and prominent UK institutions like the ICAEW and ACCA.
 
These MRAs would enable Indian CAs, who are registered with ICAI for a minimum of seven years, to be eligible for membership in the UK and would not need to sit for the duplicate examinations. This opens up a world of possibilities for Indian CAs who wish to be competitive internationally.
 

What’s New in the India–UK Trade Deal?

 
  • FTA Signed: July 24, 2025, by Prime Minister Narendra Modi and UK Prime Minister Keir Starmer.
  • Trade Growth Target: Bilateral trade is expected to surge nearly six-fold – from about $20.5 billion in 2024 to $120 billion by 2030. 
  • Professional Mobility Clause: Includes MRAs aimed at enabling Indian CA professionals to register and work in the UK under ICAI–ACCA/ICAEW frameworks. These bilateral agreements may be finalized within 36 months. 
 
This FTA goes beyond tariff reduction—it unlocks cross-border professional recognition, global visibility, and mobility.
 

Why This FTA Matters for Indian Chartered Accountants

The agreement opens several strategic benefits for ICAI members:
 
  • No duplicate exams — direct eligibility for UK membership (subject to MRA and regulatory norms).
  • Access to UK clients and contracts — including audit, tax, and advisory services.
  • Opportunities to setup or partner with UK-based firms under Mode 3 service presence.

Key statistics to consider:

  • 415,000 active ICAI members as of August 2024.
  • The FTA allows UK firms to access 108 Indian service sub sectors, including accounting; UK reciprocates by opening 137 sub sectors to Indian firms. 

Real-World Examples: Opportunity Already in Motion

 
Even before the official FTA, several Indian CA firms serviced UK clients through tax compliance, audit support, and advisory services — demonstrating geographic flexibility and high professionalism. Tools such as CCH, Xero, and cloud-based platforms enabled seamless cross-border workflows.
 

Case Study:

 
A mid-tier Delhi-based CA firm grew its UK clientele by 50% in two years, targeting audit and SME advisory roles.
 

What the Experts Are Saying 

“The FTA will provide liberal market access and protect the 'Chartered Accountant' title.” — CA Charanjot Singh Nanda, ICAI President.
 
“Indian professionals working in accounting and financial services can now expect smoother mobility.” — UK–India business officials.
 
These expert views reinforce the significance of professional recognition and mobility benefits for Indian CAs.
 

How Indian CAs Should Strategically Prepare – Your Next Steps

To make the most of these developments, Indian CAs should:
 
  1. Monitor ICAI, ACCA, and ICAEW updates and MRA progress.
  2. Get familiar with UK audit & tax frameworks, including IFRS and HMRC rules.
  3. Map out UK-qualified pathways like ACCA bridging modules or ICAEW conversion routes.
  4. Explore practical opportunities with India–UK professional forums, Chambers, webinars, and other networking platforms.
  5. Upskill with tools widely used in the UK: Xero, IRIS, CCH.

Compliance Considerations – Be Professionally Prepared

Indian CAs must stay updated with ICAEW/ACCA rules and UK regulatory frameworks before planning to practice or advise clients. They should comply with:
 
  • UK-specific audit licensing rules (e.g. FRC regulations)
  • GDPR and data privacy obligations
  • Anti-money laundering norms and ethical practice standards

Why Trust This Analysis?

  • Authored by professionals with real-world experience in cross-border projects including India-UK tax, accounting and regulatory matters.
  • Based on recent FTA documentation and ICAI/UK policy insights.
  • Structured for clarity, relevance, and practical application.
 
AKM Global’s UK Tax Practice supports Indian businesses and professionals in navigating cross-border tax, compliance, and regulatory frameworks. Reach out to us at  info@akmglobal.in for any queries or additional information on the India-UK professional landscape.
 

FAQs

Q1. Can Indian CAs practice in the UK post FTA?

Yes— once MRAs with ICAEW/ACCA are finalized, ICAI members may qualify without duplicate exams, subject to UK regulatory norms.
 

Q2. How will this benefit Indian firms?

It gives access to UK contracts, supports practice expansion, and establishes Indian firms as international service providers.
 

Q3. What compliance issues should be kept in mind?

Key areas include audit licensing, GDPR compliance, AML/KYC rules, and ethical standards.
 

Q4. What should Indian CAs do now?

Stay updated by tracking MRA developments, enrol in bridging credential pathways, network in UK forums, and upskill in relevant UK-based tools.
 
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