Planning to be MIP in January

wildgoose1uk

I am in the process of planning to go into practice in January and am in the process of completing forms etc for my practicing certificate and pii and so on. My issue is that I am from an industry background so have not dealt with the whole process of accounting for some time.

Will cpd, Tolley's tax guide and some decent software be enough to get me going or should I consider something like ATT to help. I am approaching 50 (which is verrryyy old in comparison to some on here!) so going back to studying is not something I am champing at the bit to do but will do so if necessary. I have also done ACCA up to F6 Taxation and studied F7 but work got to frantic to continue so I stopped at F6.

I do quite enjoy tax though.

andrewtdk

I dont necesseraly think that further study will help you with being a mip because although it will be good to further your knowledge the AAT wont give you a practising certificate in an area you dont have experience. As further studying wont get you a licence to practise in tax maybe your time would be better spent working in a practise to gain the experience needed?

Monsoon

wildgoose1uk wrote: »

Will cpd, Tolley's tax guide and some decent software be enough to get me going

Yes it will - but with experience too. The AAT won't give out a licence in any areas where a person doesn't have experience, so it's essential from a practical perspective as well as a licencing one.

Kathy

I am likewise hoping to get my license to practice in January (when I'll be a not so old 54!). Also I recognise there are gaps in my experience where I really don't feel it would be appopriate to offer services. The services I hope to offer will be linked directly to my most recent work which has been in bookkeeping, charitable accounts and payroll.

I intend to study futher where possible but also am making arrangements to do some work under contract for a chartered accountant whose PII will provide cover for me (for that work). This should build up some of the experience I lack and when I feel happy enough to work under my own steam I hope to extend my license with AAT. I hope this plan is acceptable/possible - please tell me if I'm on the wrong track!