Self Employment

SLM Registered Posts: 64 Regular contributor ⭐
I have been offered work for a very small firm book-keeping. I have not completely finished AAT - have completed all the exams but I am awaiting my Unit 10 to be signed off.

I then plan to go on and study with ACCA.

Obviously before I agree to take on this job I want to know if this is allowed. Am I right in saying you can prepare up to the trial balance? What would happen with VAT returns etc?

Any info appreciated....


  • Fingersan
    Fingersan Registered Posts: 84 Regular contributor ⭐
    Hi SLM

    As I understand it, you are only restricted to preparing accounts up to TB if you are self employed. As you would be working (and I assume) PAYE for the small firm, then you would be covered as an employee. However, if they are a bookkeeping firm, would they actually produce final accounts anyway?

    As from an experience point of view, this could be a very good opportunity subject to paye etc., as there are not that many jobs out there at the moment!

    All the best
  • SLM
    SLM Registered Posts: 64 Regular contributor ⭐
    Well I am already employed full time so this is a wee bit of extra money for me to make. I would be paid on an invoice basis not under PAYE so technically it would be classed as self employment I would suppose. Although I am not operating a book-keeping business.

    I am tempted to go for it but do not want to break any rules - as I understand I would not be as I would just be doing basic book-keeping and their VAT returns - both of which I have experience in as I have worked for an accountancy firm for 4 years. (Before somebody mentions this I am leaving the accountancy firm this week so there will be no issue with conflict of interest)


    Also just noticed the way in which my first post is not a book-keeping firm...I will be doing the book-keeping for the firm.
  • burg
    burg Registered, Moderator Posts: 1,441 mod
    You may need a practising certificate from the AAT in bookkeeping and VAT returns, although it may be exempt depending on the fee level and it being only the one client.

    As far as I remember ACCA permit bookkeeping to trial balance, VAT Returns and Payroll but nothing else. Have a look at this

    You need Section 2, then 2.1 then 8 then read part 2 on the right

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