Confused - ATT or AAT?

cbs

Hi all,

I'm completely new to all this and I could really do with some help!

I'm currently working as a freelancer in a completely unrelated field to accounting, however I have previously worked giving tax advice. I'd like to go into accounting as a career, mainly specialising in tax - returns, financial advice, bookkeeping, debt advice and so on. I am very adept with numbers, IT, statistics etc. and my long term goal would be to set up my own business from home working with small and medium businesses and individuals.

That's as far as I've got! I've had some advice off friends in the field and I've been told that it would be best for me to do AAT or ATT, but I have no idea which one would be best given my long term goals and background.

Any help would be greatly appreciated!

Thank you!

Gem7321

If you've never worked in accounting I would recommend AAT first followed by ATT. Completing the tax units at AAT will give you exemptions from ATT. But bear in mind you will need relevant experience before you will be able to gain a practicing license.

cbs

Hi, thanks very much. When you say relevant experience, do you mean in an accountancy practice? Sorry for the questions but what is a practicing licence? I do know my previous experience is acceptable to study the ATT if that helps. Thanks again.

Gem7321

If you want to work for yourself offering accounts and tax services you will need a practicing license if you wish to be regulated. The experience does not necessarily have to be gained from an accountancy practice but from an accountancy environment.

Even if you don't wish to be regulated (but in my view this defeats the object of studying for the qualification in the first place) you will still need to have professional indemnity insurance which is usually higher if you are unregulated and you will need to be registered for money laundering supervision.

If you wish to gain employment in accountancy then your employer may have their own ideas of the study route you should take.

Good luck

cbs

Thank you, much appreciated.