Thinking of becoming a MIP

littlemissme

Hi guys,

I know this has been asked many times but I'm hoping you can still give me some advice.

I am currently working as an accounts manager and I became AAT qualified in 2013 and I'm thinking of setting up my on my own. I'd only be doing some bookkeeping work, Payroll and returns. I like looking at ways to save a company some money and help them to work as efficiently and profitable as possible so I could also offer some consultancy services I guess. I will only be doing this on weekends and evenings as I am working Monday - Friday.

One of the requirements to be a MIP is to have a professional referee but I don't think I could ask my boss for this, so not sure how to have this.

If you could share your stories on how you started and what preparations you made to start on your own that would be great

Thank you

ehill

Hi
You can become an MIP, and then you have two years to obtain a licence, and it is the licence you need the professional referee for. I became a MIP, then 11 months later a client gave me a professional reference and I now have my licence. You could also ask a mentor. If you go onto the AAT website, and look at becoming a MIP, it tells all the people you can ask, but I know they can't be related unless they are a MIP or certified by an accountancy body, as I previously worked with family and I know I couldn't ask them. Also whoever you ask, they must have know you in a professional capacity for six months. Hope this helps.

StuartW

Hi @littlemissme - when it comes time to find a professional referee as a licensed AAT member in practice this link may be helpful:

Regulation 6 - Licensed members in practice

The page for learning more about the members in practice scheme is:

Self-employed members

You might also find it useful to attend a Be Your Own Boss event, a couple of which are happening later this year. Alternatively, here's a webinar follow-up from one of the Be Your Own Boss events.

littlemissme

Thank you ehill and StuartW

rwb

Hi littlemissme, I'd agree with Stuart - the Be Your Own Boss event is well worth going to. I think I was pretty lucky with getting a continuity of practice nominee when my license was approved and I'd be happy to keep in touch with you for a while with a view to completing your reference in the future if of any interest.

Good luck either way!

rwb