Registering for MIP

Fingersan

Good Morning Everyone.

I have a question that I hope you can help me with. I passed my Technician level in the summer and am now a full member. I have been working in practice for nearly 20 years but over the last five years or so have undertaken some private work, mainly for friends and family, with fees of around £3,000. I have been registered with HMRC as being self employed throughout this period.

I fully understand that I now need to register as a MIP and obtain a licence, for which I have no problem as I am proud of my qualification and will send of my MIP application this weekend.

The question I have is, in your experience, how long does it take for the application to be approved? The reason I ask is because one of my clients, a company, needs accounts prepared very soon (although they have just given me their records!) and I don't want to commence work until I can legitimately do this.

I look forward to your comments and thank you in advance.

bumblebee

MIP application

It doenst take that long probable around 1-2 weeks may even not be that long if you have attached your CPD records and completed the application form correctly. Also, make sure you have your PII cover sorted if you havent done so. Good luck!

Fingersan

Thank you Bumblebee, that is what I had hoped for. Yes, I will obtain cover this weekend through the AAT's recommended Trafalgar Risk as this does seem very reasonable.

Other than sending revised letters of engagement, do you think I should be doing anything else and do you think it would be acceptable to commence work for clients (without signing off accounts) during the registration period? My thoughts are that I should wait and have a couple of weeks holiday !!

Thanks again

bumblebee

I suppose in my opinion couple of weeks wont make much difference, as long as you are not signing any accounts. As soon as your MIP and PII is sorted you are then legally prepared and you get all the other benefits too from myAAT as a MIP.

Fingersan

Many thanks again for your thoughts, Bumblebee. You are saying everything I am thinking. I guess I am just a little paranoid that I don't want to screw anything up!!!

bumblebee

You are most welcome,
I believe if you are cautious in what you do, you will be fine and make your way through, slow but steady is better than rushing!