Anyone become MIP recently?

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Zia
Zia Registered Posts: 6 New contributor 🐸
in General accounting discussion
Hi,

I have just qualified for MAAT and now studying ACCA. I wanted to get some MIP work done, not sure what I can do or if it’s worth while? Has anyone recently lived this experience, what is the process please?
Cheers
Zia

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  • Rozzi Rainbow
    Rozzi Rainbow Registered Posts: 465 Dedicated contributor 🦉
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    Zia wrote: »
    Hi,

    I have just qualified for MAAT and now studying ACCA. I wanted to get some MIP work done, not sure what I can do or if it’s worth while? Has anyone recently lived this experience, what is the process please?
    Cheers
    Zia

    You need to be very careful if you are going to be doing self employed work while studying ACCA as ACCA are VERY strict on what you can and cannot do - there have been a few threads on here recently about it and I think the basic jist is you can do bookkeeping VAT and payroll but not tax. Don't take my word on this though - best to check with ACCA so you don't get into trouble with them!

    I am employed in practice luckily, so I don't have to worry about this, that's why I'm not 100% sure of the details.
  • burg
    burg Registered, Moderator Posts: 1,441 mod
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    Rozzi is right.

    You can do bookkeeping to TB only unless you specifically have a practising certificate with the ACCA. So even if you were ICAEW you still couldn't to more than to TB unless ACCA granted you a practising certificate.

    You can then also do Payroll and VAT.

    If you are going to do bookkeeping only then no problem but most want accounts and tax done as well so you may find there is limited work.
    Regards,

    Burg

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