Start Up

Jen_R
Jen_R Louth, LincolnshireRegistered Posts: 5
Hi
I want to start up offering Bookkeeping Services and would like to know the minimum requirements as have no funding until I start working. Have a couple of clients wishing for me to help them. I successfully completed AAT Diploma in Accounting Level 4 and also received my AATQB certificate. I need to gain more experience before I can become MAAT registered. This business will be have to be run outside of my current full time employment until have sufficient clients when I will then give up my current job.

Comments

  • reader
    reader Experienced Mentor MAAT, AAT Licensed Accountant Posts: 1,042
    I include a link below to starting up your own business:
    https://www.aat.org.uk/why-aat/starting-your-practice

    You can request a prospectus which should explain everything.

    I believe you will need:
    1) ICO registration for data protection/gdpr with the ICO
    2) Insurance with an insurance broker e.g. Trafalger
    3) Practising licence with AAT

    I believe the above are the minimum requirements. The AAT will help you with anti money laundering supervision.
  • PeterC
    PeterC Registered, Tutor Posts: 225
    As you want to gain experience for MAAT, you should beware of the "Catch 22" scenario whereby you need experience to practice, yet you need to practice to gain experience.
    Jen_R
  • Jen_R
    Jen_R Louth, LincolnshireRegistered Posts: 5
    Thanks for quick replies.

    I just want to make sure I am working legally.
  • reader
    reader Experienced Mentor MAAT, AAT Licensed Accountant Posts: 1,042
    If you have full time employment in accountancy you shouldn't have too many problems with gaining the experience to get the MAAT membership and practising licence
  • Jen_R
    Jen_R Louth, LincolnshireRegistered Posts: 5
    Unfortunately my current employment is not within accountancy. I currently do my husband's business account which is very small. Within my current employment I complete an impress account, check against cost reports from head office and complete any journals. So am not getting full range experience.
  • reader
    reader Experienced Mentor MAAT, AAT Licensed Accountant Posts: 1,042
    OK

    Well sounds like you probably have enough experience for bookkeeping and can add other services with the AAT in the future should you change employment

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