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CPD for Sole Trader/Partnership Accounts

lmiddlehamlmiddleham Feels At HomeRegistered Posts: 71
Hi everyone

I'm considering doing some work on the side for some small businesses but before I do I need to do some good solid CPD on accounting and tax for these businesses.
I'm not from a practice background so I'm not as up to speed on this as I could be.

Does the following sound like a good list to study? Let me know if you think there is anything I've missed.

• Registering as Sole Trader/Partnership
• Partnership agreements and tax returns
• Year Ends, Basis Periods and Overlap Tax/Relief
• Allowable/Disallowable expenses
• Judging personal/business split of items
• Revenue/Capital spend
• Tax on cars & vans
• Capitalise vehicles or use mileage allowances
• Capitalising already owned items
• Tax on other fixed assets
• Utilising losses
• Ceasing trading
• Changing to incorporated business

If anyone knows some good sources of information on these topics that would be great too!



  • RASRAS Well-Known Registered Posts: 124
    When you say doing a bit of work on the side, are you sure that your employers will be ok with this? You might be breaching your employment contract and if found out land yourself in hot water.

    To be honest if you dont have a practice background then it may be a struggle for you to offer accounting/taxation services. The knowledge required for practice work is so vast that without having the practice experience, at some point you could easily start to mess up, I am not sure reading up on subject areas is really going to be sufficient.

    Having said that, as long as your employers are happy with you doing additional work, then you could offer bookkeeping, VAT, CIS compliance type work to see how you get on and maybe build on that experience.
  • lmiddlehamlmiddleham Feels At Home Registered Posts: 71
    Thanks Ras

    Good point about my employers I'll double check that when I'm back. I'd expect it to be fine given the nature or the company.

    I expect most of my work will be bookkeeping subcontracted from practices.

    I'm curious about the work mix you've suggested though.I prepare stat accounts at work but I have little to do with VAT and nothing on CIS so I'd have thought I'd have more chance of getting a practicing certificate for accounts prep.
  • T.C.T.C. Experienced Mentor Registered, Tutor Posts: 1,448
    And don't forget that you may need to register as an MIP with AAT and get yourself some PPI too!
  • lmiddlehamlmiddleham Feels At Home Registered Posts: 71
    Hi TC

    I sure will! I believe I need 2 years of CPD records so I want to get through that list or topics 1st to try and show I'm competent enough to carry out the work I'm looking at.
    I'm also planning to download trials of Solar and VT. VT especially seems to be loved on this forum!
  • T.C.T.C. Experienced Mentor Registered, Tutor Posts: 1,448
    Well good luck and don't forget to use the forum for particular queries. Everyone is really great on here! :001_smile:
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