Applying for MiP licence

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reader
reader Registered Posts: 1,037 Beyond epic contributor 🧙‍♂️
in General accounting discussion
I'm thinking about applying for my MiP licence having just become a MAAT.

Re: PII; I am thinking of going for RMK Insurance Consultants; does anyone know of a better/cheaper provider?

In terms of applying for a MiP licence, do I simply just have to print off, fill out and post the application form? Anything else?

Finally, is there anyone in East London willing to be my continuity partner? Please PM me.

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  • jamesm96
    jamesm96 Registered Posts: 523
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    reader wrote: »
    In terms of applying for a MiP licence, do I simply just have to print off, fill out and post the application form? Anything else?

    You'll also need to provide evidence of work experience, usually in the form of a CV-esque document which can be verified by another accountant, and your application for a Practicing Licence will also need to be sent with a recommendation by another accountant confirming your suitability for a licence (and including details of your experience in Practice Management).

    It sounds more onerous than it is, honest!
  • ademoore
    ademoore Registered Posts: 146 Dedicated contributor 🦉
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    Agreed with Mike above, it's pretty straightforward once you get down to it!

    Try Trafalgar for a quote, I use them and find their prices really reasonable!
  • reader
    reader Registered Posts: 1,037 Beyond epic contributor 🧙‍♂️
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    Thanks for the reassurance :D

    I'm scrapping the East London request, anyone in London willing to be my continuity partner?
  • uknitty
    uknitty Registered Posts: 591 Epic contributor 🐘
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    having just become a MAAT

    Whut whut ? Did your results all get uploaded ? Congratulations - I've hanging on waiting to hear the "official" good news :D
  • reader
    reader Registered Posts: 1,037 Beyond epic contributor 🧙‍♂️
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    Lol! Thanks. Yup, all results uploaded and membership is now official. When I login into the AAT website I don't have the 'normal' student MyAAT (which says congratulations on completing Levels 2, 3, etc, links to learn plus, greenlight, etc), instead I've now got a membership MyAAT (instead of links to past papers, etc there are now links to MyCPD2012, FMAAT, membership benefits, other members, etc). Also when you log into the website the letters MAAT also appear after your name and I recently got the actual physical Full membership certificate through the post.

    I'm surprised how extremely quickly everything has happened. A few weeks ago I was a struggling level 4 student and now I'm: Reader, BSc (Hons), MAAT.

    Final hurdle is MiP licence; I reckon I'll incorporate into a limited company over the weekend and then apply for the licence; so hopefully I'll be a director in a few days time.

    You should get official confirmation in the next few days.
  • deanshepherd
    deanshepherd Registered Posts: 1,809 Beyond epic contributor 🧙‍♂️
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    I used Simply Business to find me the cheapest quote for PII. They have come in so cheap that when I get harassed by other insurers to provide me with a comparison, they baulk at the amount I am paying.

    Glemham are the actual insurer I have used for the past couple of years.
  • Monsoon
    Monsoon Registered Posts: 4,071 Beyond epic contributor 🧙‍♂️
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    I'm with RMK and I pay £12 a month on a rolling monthly policy. At that price it doesn't pay me to shop around!
  • jamesm96
    jamesm96 Registered Posts: 523
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    Monsoon wrote: »
    I'm with RMK and I pay £12 a month on a rolling monthly policy. At that price it doesn't pay me to shop around!

    That's astonishing. I thought my £200 per year with Hiscox was good, but I'm only a 'part time MiP'.
  • Dcollins
    Dcollins Registered Posts: 179 Dedicated contributor 🦉
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    Monsoon wrote: »
    I'm with RMK and I pay £12 a month on a rolling monthly policy. At that price it doesn't pay me to shop around!

    Is that just PII or does it include public and employer's liability?
  • Monsoon
    Monsoon Registered Posts: 4,071 Beyond epic contributor 🧙‍♂️
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    Dcollins wrote: »
    Is that just PII or does it include public and employer's liability?

    Just PII. I pay £240 a year for liability insurance including office contents.
  • Dcollins
    Dcollins Registered Posts: 179 Dedicated contributor 🦉
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    Monsoon wrote: »
    Just PII. I pay £240 a year for liability insurance including office contents.

    Thanks, you're getting a very good deal. There might be a few of us shopping around, and maybe knocking on RMK's door.
  • Monsoon
    Monsoon Registered Posts: 4,071 Beyond epic contributor 🧙‍♂️
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    The liability is through my local insurance broker - worth talking to yours.

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