How many MIP are needed

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noodles
noodles Registered Posts: 308 Dedicated contributor 🦉
If you have a limited company and the other director has their MIP certificate, does the other AAT qualified director need one too. Is is related to the person or the company. I called AAT and asked them and was told only one MIP certificate is required, does that not therefore mean that one only person has the certificate.
Any comments/views appreciated.

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  • Monsoon
    Monsoon Registered Posts: 4,071 Beyond epic contributor 🧙‍♂️
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    It is the person that has a practising certificate, not a firm. So my understanding is both directors need to be licenced. If a MAAT is working for themselves, whether as self employed or as a director of a ltd co they control, they need a members in practice certificate. Following that logic, both directors would therefore need one.
  • noodles
    noodles Registered Posts: 308 Dedicated contributor 🦉
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    this does make sense but not what AAT told me. following this logic, if you had a large LTD practice or large partnership of accountants of maybe 20, you would have to pay out 20 times for the MIP certificate as each partner would need one? I think that I need to call them again to clarify.
  • deanshepherd
    deanshepherd Registered Posts: 1,809 Beyond epic contributor 🧙‍♂️
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    I'm with Monsoon.

    It's the individual members responsibility to ensure they comply with the rules of 'their' professional body. The firm itself is not an MIP. If each partner is a member of AAT then each will have to register as an MIP.

    Other professional bodies have rules about how many partners/directors need to be qualified in order to call themselves, for example, a firm of chartered tax advisers but I don't think AAT has an equivalent.
  • coojee
    coojee Registered Posts: 794 Epic contributor 🐘
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    Maybe what the AAT meant was that he could still be a director without the certificate but any signing that needed doing would have to be done by the MIP. So answering your question literally, no he doesn't need one to be a director. But if he wants to sign anything off then he does need one.
  • noodles
    noodles Registered Posts: 308 Dedicated contributor 🦉
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    had clarification today, MIP certificate is required as expected for all MAAT's in a practice.
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