Mip???

Options
Kitkat82
Kitkat82 Registered Posts: 46 Regular contributor ⭐
in General discussion
Hi everyone,

I'm in the process of finishing Level 4 and currently have one private client who I undertake the bookkeeping for. I don't have anything to do with providing any advice to them. I just post their transaction onto sage, process their payroll, complete their CIS & VAT returns and prepare the books for the year end accounts for their accountants to adjust and finalise.

Would I have to become a MIP to continue doing this? I don't have any plans to gain any more clients as this one and my full time job keep me busy enough.

Many thanks

Kat

Comments

  • Rinske
    Rinske Registered Posts: 2,453 Beyond epic contributor 🧙‍♂️
    Options
    I think you'll need to submit a form to be exempt from the MIP scheme in that case.

    There is a form and you can use it if your earnings are under 1000 a year (with some other rules).

    If you look it up on the site, it will give you a link to the form, although I think you will have to be logged in. I filled it in and emailed it to the AAT MIP team and received their reply quite soon after.

    Hope that helps,

    Rinske
  • Monsoon
    Monsoon Registered Posts: 4,071 Beyond epic contributor 🧙‍♂️
    Options
    Rinske wrote: »
    I think you'll need to submit a form to be exempt from the MIP scheme in that case.

    There is a form and you can use it if your earnings are under 1000 a year (with some other rules).
    Correct. The MIP team are friendly and helpful - if you can't find it on the site, send them and email and they will help out.

Categories

Privacy Policy