Self-employed........please help!!!
System
Posts: 100,534 🤖 Admin 🤖
Hi Everyone,
I am considering starting up as self employed but I am a little apprehensive. I am currently studying AAT Tech and have got my last exams in June.
I am not sure what to start up as - accountant/book-keeper, also not sure what to charge.
I have an appointment to see a self employment advisor on wednesday and would really like to draw up a business plan before then.
A have a little experience but none in Practice. My dad is a sole trader and I do all his accounts including annual accounts and I work part time at a limited company but only do bookkeeping (inputting info onto sage) and vat returns, the rest is done by a chartered accountant.
So were do I start? I guess I need to apply to be a MIP (do i need to wait until finished AAT Tech) and also get insurance.
I was thinking of offering book-keeping and accountancy services for sole traders, partnerships and individuals (so no need for any other accountant) and book-keeping services for limited companies (so ltd co. would need another accounting to do year end stuff as well)- is this acceptable?
Another area of concern is that I have done the units on PIT and CGT but none on business tax - will this prove to be a problem?
What if clients ask me questions I dont know the answer to- do I research the question and then get back to them?
My aim is to eventually study for my chartered accountancy and buid up a successful business but in the meantime I need to make a living.
Sorry for all the questions. Any help or advice would be greatly appreciated.
I am considering starting up as self employed but I am a little apprehensive. I am currently studying AAT Tech and have got my last exams in June.
I am not sure what to start up as - accountant/book-keeper, also not sure what to charge.
I have an appointment to see a self employment advisor on wednesday and would really like to draw up a business plan before then.
A have a little experience but none in Practice. My dad is a sole trader and I do all his accounts including annual accounts and I work part time at a limited company but only do bookkeeping (inputting info onto sage) and vat returns, the rest is done by a chartered accountant.
So were do I start? I guess I need to apply to be a MIP (do i need to wait until finished AAT Tech) and also get insurance.
I was thinking of offering book-keeping and accountancy services for sole traders, partnerships and individuals (so no need for any other accountant) and book-keeping services for limited companies (so ltd co. would need another accounting to do year end stuff as well)- is this acceptable?
Another area of concern is that I have done the units on PIT and CGT but none on business tax - will this prove to be a problem?
What if clients ask me questions I dont know the answer to- do I research the question and then get back to them?
My aim is to eventually study for my chartered accountancy and buid up a successful business but in the meantime I need to make a living.
Sorry for all the questions. Any help or advice would be greatly appreciated.
0
Comments
-
Re:Self-employed........please help!!!
What a lot of questions. I will answer a couple.
Firstly, it depends on your circumstances as to whether you can afford to "go it alone", as it takes time to build a client base.
Secondly, you don't have to worry about being able to answer every question - none of us can - well at least I don't think any of us can. If you are unsure, look it up or check with this forum. This is a really great place to help each other out.0 -
Re:Self-employed........please help!!!
Hi Jeannie
I will now add my tuppence worth. Go back through the members forums for advice on how to go about setting up a business - lots and lots of previous posts - which will answer the vast majority of your questions.
You can be s/e before you finish your exams, however once you have, you will need to apply to be a MIP. Whenever you start you must have PI insurance and abide by AAT code of conduct.
If you are working for yourself, the only other qualification that you can take is ATT. None of the Chartered bodies will let you study let alone qualify without working for somebody else
All the best, and hope it works well for you - I love every minute of it(well most minutes!)
Claudia0