Sarah
scjones
Registered Posts: 2
I am thinking of becoming a freelance bookkeeper (not in practice), to work at customers' premises. I was wondering if it is necessary to take out Professional Indemnity Insurance? I understand this would be necessary as a Member in Practice, which I am not, but is it still required if you set up as a freelance bookkeeper? Thanks.
0
Comments
-
If you are a freelance bookkeeper I think you would fall under the AAT MIP scheme.
Maybe you could give us a bit more info on the set up, i.e. will you be working for another accountant as a subcontractor or directly with clients?0 -
Hi Sarah, this is a grey area though AAT can argue that a freelance bookkeeper is effectively 'in practice' even if only offering bookkeeping services. Thinking about it, I'm guessing you will need a regulator/supervisory body for money laundering purposes and AAT won't do it without indemnity insurance, so in a way, that answers the original question. I stand corrected.0
-
Thank you very much for your comments. Much appreciated. As advised, I have just spoken with the AAT, and they confirm that, although it is just bookkeeping services (with no advice given) I intend to provide, I would have to register as a MIP and take out Professional Indemnity Insurance. Thank you to mrme89 in saying that PII is vital when being self-employed, even if I weren't a member of the AAT.
Thank you for all your feedback.0
Categories
- All Categories
- 1.2K Books to buy and sell
- 2.3K General discussion
- 12.5K For AAT students
- 318 NEW! Qualifications 2022
- 161 General Qualifications 2022 discussion
- 11 AAT Level 2 Certificate in Accounting
- 56 AAT Level 3 Diploma in Accounting
- 87 AAT Level 4 Diploma in Professional Accounting
- 8.8K For accounting professionals
- 23 coronavirus (Covid-19)
- 272 VAT
- 92 Software
- 273 Tax
- 135 Bookkeeping
- 7.2K General accounting discussion
- 200 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 345 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 582 Job postings
- 16 Who can benefit from AAT?
- 36 Where can AAT take me?
- 42 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 66 AAT membership