Advice please

System
System Posts: 100,537 🤖 Admin 🤖
edited June 9 in General accounting discussion
I qualified in 2003, am PQ ACCA to 2.4 and currently temp as an accounts assistant. I am considering taking up self employment on a part time basis from home providing basic bookkeeping services. Software experience includes Sage Line 50 & Excel.

I understand that I require a practising certificate, PI insurance and that the going rate is £15-20 per hour.

I told someone I used to work with about 2 months ago that I was considering the above; he recently emailed me and told me that he had a prospective client! He's a former sales & marketing manager who now operates his own marketing business with his wife and son. He, along with someone else I know, told me he would be happy to distribute my business cards to anyone who might be interested.

I told him that I wasn't quite ready and to give it a month or so.

This appears to be a great opportunity that shouldn't be missed - but obviously, I want to get off on the right foot.

Any advice would be greatly appreciated.

Many thanks.

Comments

  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:Advice please

    You would need to speak to ACCA first to receive confirmation from them as to whether or not they consider this to be "holding yourself out to be in practice".

    The ACCA have extremely tight restrictions on what you can and cannot do whilst a student of theirs and you would be better of just clarifying with them what their viewpoint is on this.

    I know when I was asked by a friend of mine to help him with a tax enquiry (only an aspect enquiry) they were very specific about what I had to call myself and how often I could do it despite me being ACCA qualified - I do not hold one of their practising certificates.

    Kind regards
    Steve
  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:Advice please

    ah, interesting! I did think being MAAT was enough; will look into. :-o

    Thanks for that.
  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:Advice please

    I'm afraid not Mark. The ACCA don't recognise AAT and as a result don't take on board any of their rules in terms of practising.

    You may be ok with basic bookkeeping, VAT returns, payroll and taking accounts up to TB but I would advise you to contact ACCA direct to avoid jeopardising your qualification.

    Kind regards
    Steve
  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:Advice please

    Steve

    I haven't contacted the ACCA yet, but I was only planning on using my AAT membership - ACCA wasn't to be mentioned until I had actually qualified and become a member.

    I only intended at most to offer the services you mentioned, at least to start off with.
  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:Advice please

    I think you'll be ok with basic bookkeeping but I would contact them just to be on the safe side. They are extremely strict in terms of working for yourself. Nearly all of the disciplinary proceedings which get published in their magazine are to do with being self employed with no practising certificate.

    Even after qualification in ACCA you have still have to have 3 years post qualification experience covering certain areas before you can "go it alone".

    Kind regards
    Steve
  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:Advice please
    peugeot wrote:
    Even after qualification in ACCA you have still have to have 3 years post qualification experience covering certain areas before you can "go it alone".

    Kind regards
    Steve

    And that has to be in an approved practice, not just any old accountancy practice.

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