Gaining experience in practice?

Kirstytev
Kirstytev Registered Posts: 16 Dedicated contributor ? ? ?
Hi

I am nearly AAT qualified (passed all exams, just got the project to do) and once passed, I would like to apply for member in practice status in order to set up my own practice alongside my current employment.I would only have a couple of clients to start off with (friends and family) but I am unsure as to how I would gain experience in some of the services I would want to offer.

I don't currently work in practice, but do work as a Management Accountant and Payroll Manager so do have plenty of experience in accounts, VAT, payroll, Corp Tax but none in self assessment, business tax, personal tax to some extent and these are the area's I would like to provide services for. I have obviously passed the exams in these units but I am sure this won't be enough.

I am unsure how to go about gaining experience, I don't want to move from my current job - I was wondering if local book-keepers/accountants would be willing for me to provide free work experience, but obviously there would be a confidentiality issue so I am not sure if it is even allowed?

Has anyone else been in this situation or does anyone have any advice?



Many Thanks

Kirsty

Comments

  • T.C.
    T.C. Registered, Tutor Posts: 1,448
    Try volunteer work for local charities - great experience!
  • reader
    reader MAAT, AAT Licensed Accountant Posts: 1,037
    Kirstytev wrote: »
    Hi

    I am nearly AAT qualified (passed all exams, just got the project to do) and once passed, I would like to apply for member in practice status in order to set up my own practice alongside my current employment.I would only have a couple of clients to start off with (friends and family) but I am unsure as to how I would gain experience in some of the services I would want to offer.

    I don't currently work in practice, but do work as a Management Accountant and Payroll Manager so do have plenty of experience in accounts, VAT, payroll, Corp Tax but none in self assessment, business tax, personal tax to some extent and these are the area's I would like to provide services for. I have obviously passed the exams in these units but I am sure this won't be enough.

    I am unsure how to go about gaining experience, I don't want to move from my current job - I was wondering if local book-keepers/accountants would be willing for me to provide free work experience, but obviously there would be a confidentiality issue so I am not sure if it is even allowed?

    Has anyone else been in this situation or does anyone have any advice?



    Many Thanks

    Kirsty

    Hi Kirsty

    Many accountants firms do use subcontractors.

    Have you e-mailed any accountants firms in your area (see ICAEW, ACCA, IFA and AAT websites for a directory of accountants) to find out if they are looking for a subcontractor? I'm sure there are plenty of firms that would kill for someone skilled in VAT, payroll, accounts and corp tax willing to work for free.

    Also, don't forget that you are able to apply for MAAT status before you finish your project. I applied for my MAAT status in February, passed the project in March, got MAAT status and setup my ltd company in April and this month have applied for MiP status. The good thing about applying for MAAT status before you finish level 4 is that when you do finish level 4 you get automatically elected immediately and for free. :)
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