Continuity of work

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT member discussion
Hi,
Can anyone help me?
I am looking for someone to offer me support with continuity of practice, I am just setting up and applying for Member In Practice status with CIMA but we don't have the same forums on CIMA as we do here and need to find someon who will help.
I am currently offering bookkeeping and accountancy services and tax returns.

I live near Leicester in the East Midlands and any help or advice would be very greatfully received.

Cheers

Emma

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Continuity of work

    Hi Emma

    What exactly is it that you want? Are you looking for someone to "chat" with about CIMA stuff, or do you want technical help doing bookkeeping and tax returns?

    Let us know, and I am sure that there is someone here who can help :D

    Claudia
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Continuity of work

    Hi Claudia,

    I am looking for advice on the type of services I can supply as i do not have a full tax qualification! (and advice on how worthwhile it would be to get one)

    But also need someone to cover me and my clients if I ever become ill whilst in practice, I need this before CIMA will give me my member in practice status.

    Thanks

    Emma
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Continuity of work

    Beetle - you would probably need to check with CIMA what they will/will not let you do. AAT will let you do anything that you are competent to do.....

    Also do you need a CIMA person as professional cover?

    Best give them a call, and they should be able to give you all the answers you need.

    Claudia
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Continuity of work

    HI Claudia,
    I have just e-mailed CIMA asking for specific requirements for cover although the info they supply states that it needs to be someone capable of undertaking the work in my absence! So at the moment don't see why it would have to be a CIMA qualified person.

    You seem to know quite a bit about various areas to do with practice, how long have you been self employed?

    DO you hold a tax qualification, and do you think it is worth doing one?
    The only tax stuff I know is basic corpration tax which was covered in AAT and CIMA.

    Also can you offer any advice on how to go about setting rates to charge your clients I'm not sure where to start!

    Thanks

    Emma
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Continuity of work

    Hi Emma

    I have been self employed for about 5 years now - finished AAT last year, and keep on meaning to register for ATT :oops: but somehow (a bit like my filing) I never get round to it! I did both business and personal tax for AAT.

    Setting rates is always really, really difficult. If it is for doing accounts work and a tax return, then where possible I see what they were being charged before :wink: and go from there.

    For most VAT returns, I try to do them on a per return basis (I hate having to keep timesheets!), but if pushed I think of a figure - add on more if I am in a bad mood, or have already got lots of work :roll: or alternatively if I am in a particularly good mood or not very busy (which actually doesnt really happen any more), or I like them, then I might take a bit off.

    Also think about the type of person they are, and the business they are doing - I am waiting for a new client to call me about doing their VAT - I know that they are a pair of disorganised electricians - big warning bells - I will quote high a) because I will have to nag to get all their stuff and/or it will be late every quarter b) I already have lots of VAT to do that stagger and c) I have lots of other stuff I could be doing (like tax returns), so if they go elsewhere I am not really that bothered!

    However if they wanted their VAT done in Dec/Mar/June and Sept I would quote lower, because I only have 3 other returns to do that month.

    If you are desperate for the work, and dont want to lose it on price, then you can always go in low, and say that you have done that, and that you will review it after say 3/6 months - people hate change, so the chances are that they will stay with you.

    Hope this helps somewhat, if only to explain that it is not an exact science - also depends on where in the country you are - central London will be far higher than Cornwall or the Scottish Highlands!!

    Claudia

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