MIP Application form confusion

jalalsyedjalalsyed Settling In NicelyRegistered Posts: 20
Today, I just received my MIP application form which I will be filling in but there is some confusion inside me about filling the form. I would like some help here. I will order out the questions in numbers to make it more organized.

1. Firstly, I have got some experience in MIP. Meaning, I have only experience in Bookkeeping and Accounting. So obviously I don't meet the other criteria. Like, I'm not experienced in the Tax, Payroll area. Shall I apply for a license or a registered member?

2. If I'm a registered member and not licensed, do I have to pay for the AAT money laundering supervision fee? And how much does this cost?

3. If I am a registered member, shall I pay for an insurance cover? The professional indemmity insurance cover (PII), I'm talking about. How much will I have to pay? How do I get a insurance cover done?

Any help would be appreciated, thanks!

Comments

  • MonsoonMonsoon Font Of All Knowledge FMAAT, AAT Licensed Accountant Posts: 4,069
    1. Pass - check the guidance - I'm not familiar with the new structure.

    2. Pass- check the guidance or ask the MIP team. AAT supervision is about £80 a year; if you have to go through HMRC it's about £120 a year.

    3. Again, there is a list of PII providers in the MIP guidance or available from the MIP team. You apply for it as you would any other insurance policy - shop around and choose one. Cost £100-200 per year.
  • jalalsyedjalalsyed Settling In Nicely Registered Posts: 20
    Thanks for the info. I added you on skype, but you havent responded. I have another problem and it would be good if u helped me. Can you pm me your email, so I contact you with my queries.
  • MonsoonMonsoon Font Of All Knowledge FMAAT, AAT Licensed Accountant Posts: 4,069
    As per my signature, I only answer questions on the open forum, for the reasons stated :)
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