Needing help , i have been approached by a friend who is a contractor and wants to register as a limited company and since he knows that i have been working as an accountant for over 8 years although i am in my last paper of ACCa. he wants to know if i can do his books for him as a limited company. his tax returns, VAt and others.
I am no expert on ACCA rules but I would think you could do bookkeeping, VAT and work upto TB but probably not final accounts...may be best to contact ACCA for a definitive answer though.
ACCA is quite specific. You are allowed to do bookkeeping to trial balance, VAT and Payroll only and you are not allowed to make any mention of your ACCA status.
You can't do his limited company accounts unless your work is being signed off by a fully qualified accountant.
I know that it sounds unfair especially considering the comparative level of knowledge that one has to have to get to the latter stages of the qualification but I'm afraid those are the rules and we unfortunately just have to live within them.
Last thing that you want is to get this close to qualification and then end up with a bye law 8!
I assume that by working as an accountant for 8 years you mean that your working through another company as an accountant but this friend wants you to do his books outside of your normal practice.
Just as an aside it might be worth checking your terms of employment as to whether you are allowed to take on clients even when just doing a favour for a freind (so not exactly poaching).
Kind regards,
Shaun.
P.S. goodness knows where the end of my last sentence went! Fixed now.
-- Edited by Shamus on Wednesday 8th of December 2010 04:03:48 PM
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
