In Practice / Self employed

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT member discussion
All,<BR><BR>I have recentely completed my technician level and been accepted as a member. I work in local government as an auditor but would like to do some private work and possibly in the future go self employed. I've done a bit of work for schools (school fund) but have little experience, I would appreciate it if any body could give me any pointers, advice or problems experienced so that i can get any idea of what to expect. I would also like it if anybody could tell me if they use any specific software like sage or if they just use MS excel.<BR><BR>If anybody could help I would appreciate it.<BR><BR>Thanks

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    In Practice / Self employed

    First, read the guidelines for Members In Practice, avaiable on this website. It tells you all the things you need to think about.<BR>The AAT guidelines makes one point which I think is very valid. - Only take on work within your capabilities. This doesn't necessarily mean only taking work you have previous experience with, but you should know how to research areas you are unsure of. You should consider any of this "on the job" training when setting your fees - maybe agree to charge less for a few weeks. Some people do a bit of voluntary work to start with if they don't have much experience, or maybe help out a friend who is in business.<BR>It can be very lonely when you come up against a problem, and have no one to ask, but in the long run you do gain a lot of experience and learn how to overcome difficulties.<BR><BR>I hope this helps. Good luck<BR><BR>Sheelagh<BR><BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    In Practice / Self employed

    Thanks for your help on this one, what software if any do you use ?, I'm not sure if I need to splash out on some software or stick with excel.<BR><BR>Thanks
  • System
    System Posts: 100,534 🤖 Admin 🤖
    In Practice / Self employed

    Hi,<BR>My preferred software is Sage, and for a basic set of books Sage Instant is usually all you will need. This costs about £110. The basic version of Quickbooks also costs about £130. Sage is widely recognised by accountants, so if you are going to pass the data on to an accountant for statutory accounts it is easy to transport the data. Some accountants don't have facilities to recognise Quickbooks data so you might find you have to export it to spreadsheets or PDF files. You might also find that some of your clients already have software in place so you will probably have to go along with that, especially if they use it for invoicing/stock control etc.<BR><BR>Good luck<BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:In Practice / Self employed

    Hi redders

    In much the same position if you would like to get in touch and pass on information and help I will be pleased to do so we might be able to help each other. If so e-mail me and take it from there.

    Anders
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:In Practice / Self employed

    My advice in general is to go on HMRC FREE workshops!!! There are so many on many subjects Becoming Self-Employed, Self Assessment for the Self-Employed, Payroll, Setting up a Limited Company, to name a few. Not sure where you are based but the London number to book on workshops is 020 7667 4827 or go to www.hmrc.gov.uk/bst
    When you go on the Becoming Self Employed workshop you meet so many people who have either just become or about to become self employed. It's the ideal opportunity to get new business!!!

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