Employed but want to start my own job for other companies!!

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mahdi87
mahdi87 Registered Posts: 121 Dedicated contributor 🦉
in General discussion
Hi guys well basically i have just completed the AAT and i been working in an accounting firm for the last year......now that i want to start my own business (well not really busines ...like selfemployed) and have few clients is it possible doing it while i am still working as i dont want to stop my current job as it might not work out for me what do u think is possible to do it? and how would i declare my revenues to HMRC??

ideal services i am looking to provide is bookkeeping, self assements, maybe Payroll can i do it guys??

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  • AK002
    AK002 Registered Posts: 2,492 Beyond epic contributor 🧙‍♂️
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    There's nothing stopping you.. however i'd get confirmation that it's ok from you employers... they may not like it as they may think you are trying to poatch any clients off of them..

    You'd need to register as self employed with HMRC and complete a Tax Return to declare and pay any tax due and if i'm not mistaken your salary would be shown on the TR too along with tax deducted at source (PAYE,NIC)
  • Navindra
    Navindra Registered Posts: 2 New contributor 🐸
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    Your own Business is great

    Starting an Accounting/bookkeeping business is simple, as no direct costs are needed
    you need software and hardware, a quite room , and you will be in business, dont leave your current employment , until you feel it is time to do so
  • mahdi87
    mahdi87 Registered Posts: 121 Dedicated contributor 🦉
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    yer i have VT for bookkeeping and i am about to buy keytime 2010 i am still not sure which payroll software i use currently i use IRIS RPO @ my work place
  • A-Vic
    A-Vic Registered Posts: 6,970 Beyond epic contributor 🧙‍♂️
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    this is the one we use

    http://www.thesaurussoftware.co.uk/

    also there is a months free trial
  • Monsoon
    Monsoon Registered Posts: 4,071 Beyond epic contributor 🧙‍♂️
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    If you've only been working in an accounting firm for one year, you might want to consider getting a little more experience before starting out on your own.

    If you plan on staying employed as well you should really run it past them first.

    You would need to register as a MIP.

    software for a small practice:

    Tax returns: FTax or TaxCalc
    Accounts Prep: VT Accounts
    Payroll: 12Pay or Moneysoft

    Bookkeeping: what ever you like. I recommend Solar Accounts (its fab and I can also get you a 10% discount)

    Do not buy Sage!!
  • Londina
    Londina Registered Posts: 814 Epic contributor 🐘
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    Monsoon wrote: »
    Do not buy Sage!!

    why not Sage?
  • columbia
    columbia Registered Posts: 580 Epic contributor 🐘
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    Not sure????

    I've used it for around 20 years and prefer it to any other package.
  • timwright116
    timwright116 Registered Posts: 9 New contributor 🐸
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    Whats up with Sage? I would just go for that and simple old Excel.....
  • A-Vic
    A-Vic Registered Posts: 6,970 Beyond epic contributor 🧙‍♂️
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    A-Vic wrote: »
    this is the one we use

    http://www.thesaurussoftware.co.uk/

    also there is a months free trial

    Just Also relised there is a free bookeeping software package on the above link

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