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Post Info TOPIC: Do you need an accountant for SA figures?
Suffolker


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Do you need an accountant for SA figures?
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I was talking to a potential client today and they said that at the moment she does the books for her builder husband and is registered to file the SA tax return online.

If I did his books on Sage and produced the necessary reports from them could I then produce a sheet of figures that she could put online for the SA? Or would the accountant have to have the sage backup file and do the SA figures?

Many thanks in advance

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Hi
If you are confident completing SA there is no reason that you could not do it yourself.  You would need to register as an agent with HMRC and obtain your clients permission via a form (64-8).  You could then submit the SA on his behalf

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lor


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I have read somewhere that your Professional Indemity Insurance would not cover you if you are not licensed to carry that out.

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Suffolker


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Thanks for your replies, will do abit more research about it

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kjmcculloch


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Lor,

I'm not sure what you mean by needing to be licensed. I currently so SA and my insurance have never said they have an issue with it.

Kris

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Suffolker


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That sounds good then Kris, who have you got professional indemnity insurance with?

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Hi Lor
I too do SA and have never had any problems with insurance so I presume all ok as it was certainly mentioned on the insurance proposal.  I have my insurance with Hiscox if it helps

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BackOfficeGroup


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you do not have to be licensed, approved or even qualified to be an accountant so the issue of insurance is not applicable if they accepted you, if you do indeed have insurance.

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Suffolker


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Yes I'm with Trafalgar

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lor


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Okay, I must have been mistaken, sorry! But then maybe it is different if you have a practising license with AAT?? I will have to find out.

-- Edited by lor on Monday 26th of October 2009 12:18:48 PM

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BackOfficeGroup


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if you go down the route of an association, then you are bound by their terms but you do not have to be a member of any assoc to work as an accountant - it only means you cannot sign off accounts officially, but does not stop you producing accounts or completing forms etc etc

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Wella


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Hi Suffolker

It will probably depend on the insurer but all insurance companies work on the principal of good faith and require disclosure of relevent facts that might affect the cover, policy or premium paid, even if they don't ask for a specific disclosure.

I notice you say you are with Trafalgar.
I am with them too, through the ICB and part of their terms and condition, is that I hold a practice license and only carry out work which I am qualified to do (Eg have passed the relevent exam to qualify me to do the work.) If, for example I had not passed the ICB Self Assessment diploma, they would not insure me to complete self assessment for clients. (I would be in breach of ICB code of conduct too)

Trafalgar do ask if you intend to do other work not covered by ICB qualifications, which no doubt would affect the premium and the amount of cover.

Bill

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Suffolker


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Thanks for your advice Bill. Will just do what Im qualified to do under the ICB, produce the relevant reports and the client can carry on filling the SA online like she's been doing

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