Hi everybody I hope someone can help me! I have been studying bookkeeping for a few years now and have gathered a few qualifications:
OCR level 1 manual and computerised bookkeeping, IAB level 2 computerised and manual bookkeeping, IAB level 2 payroll, AAT level 3 Intermediate and I am now half way through AAT technician level 4 .
I have 4 years experience with 2 ltd companies and have just applied for fellow membership with the IAB to cover me until I can apply for my MAAT on completion of AAT level 4.
I am looking to start small bookkeeping business and have registered self employed but after hours of research I am now totally confused as to what I should do next or even how to start up?! Ive read things which make me think Im not licensed to offer services? I wanted to offer self assessment services to the self employed and look at offering CIS help, also help with tax credit forms along with the basic bookkeeping to tb for sole traders and ltd companies. Do i need to register with hmrc as a tax agent? Am I qualified to do so? There are so many other questions but feel really silly for asking! I have made endless phonecalls to hmrc, IAB, AAT and no one seems to really help apart from confuse me more!!
When you membership for the IAB comes through, you can log into the members only area, where you will find the IAB members handbook and pretty well everything you need to know about the admin & legal side of running your own businesses, including templates etc
You need to do the work you are happy to do and offer your services based on that. You only need to register as a tax agent when you have to use your own business to do things for your own clients. Sometimes you will it easier to use their registrations and if you do book-keeping for businesses that also have accountants - they will be the tax agent, not you.
You also will need to apply to the IAB for a certificate of compliance/practice certificate - this will cover you for ML
You are welcome to give me a ring and talk, but can you leave it for 2 weeks? I have a lot of committments next week, and then I am away on holiday for a week !
Before you can offer services you must have a Supervision License. This you can get from the AAT or IAB, contact them to compare benefits and costs etc.
Once you have passed the AAT Level 4 you would be able to do self assessments.
You are currently qualified to complete Trail Balance for Sole Traders and Limited Companies. You could actually do the full accounts for sole traders.
If you are completing self assessments you should register as a tax agent, it helps if you have technical queries etc.
Don't feel silly for asking questions, we all start somewhere.
Perhaps the bodies are waiting until you have your practice license before they give you advice?
