Home For accounting professionals General accounting discussion
Current updates regarding coronavirus (Covid-19) and the precautions AAT are taking will be continually updated on the below page.

Please check this link for the latest updates:
We hope you are all safe and well and if you need us we will be here. 💚


Please help me understand Professional Cover

taramurraytaramurray New MemberRegistered Posts: 5
I am about to apply to go into practise. I have been told I need a Professional Cover.

Having read a similar post, I am now confused.

Does Professional Cover need to be a 'person' or, can I just insure myself?

I am sorry to sound so dim, i'm sure i'm not really :blush:

Thank you in advance for any help you can offer

Tara

Comments

  • shaxxashaxxa Feels At Home Registered Posts: 82
    You will need professional indemity insurance which you can purchase as a block from this website. If you are just starting out and your estimated income for the year is under £5000 than I think it's about £50. Obviously it increases if trading activity is higher.
    Professional cover is different where you will need another accountant who would be willing to act for you in case you are unable to work due to illness or incapacity for example.
    If you look under the MIP directory on this site, you may be able to find someone who would be willing to do this.
    Hope this is of help.


    Sharon
  • taramurraytaramurray New Member Registered Posts: 5
    That's great, thank you Sharon.

    Is there anyone on these forums based near Bridgwater, Somerset who may be willing to offer me this? I promise to never be ill lol
  • MoobagMoobag Feels At Home Registered Posts: 59
    Hi Tara

    I am based in Taunton, I could help if you haven't found anyone yet?

    Michelle
Sign In or Register to comment.