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Post Info TOPIC: Hi there-I'm a newbie to the forum......


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Hi there-I'm a newbie to the forum......
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stumbled upon the forum yesterday whilst doing some research into setting up my own book keeping service, working from home.

I will be handing in my notice next week and am looking to regsiter as self-employed as of April 2012.

I have seen the Bookcert package and wondered if anyone else had bought ot and how much they gained from it. I am really looking for some advice on marketing and advertising.

Not sure if I am allowed to ask this, but does anyone have a Bookcert package they have finished with and looking to sell on (Administrators-please remove if this is inappropriate to ask no).

 

I am really looking forward to participating on this forum.

 

DeeGee



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Forum Moderator & Expert

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Hi DeeGee,

welcome to the forum and don't worry, it's not an innappropriate question.

One thing that I'm reading into your post is an eagerness to get straight into bookkeeping for clients but a word of caution. Getting enough clients to make this a viable venture can be quite slow so I would advise if at all possible to continue with the day job until you have a dozen or so clients in your stable.

There are a blog ny pDm on the go at the moment that will help you get started by sharing the anguish that another is going through in building their business.

Sure that I don't need to tell you that it's a legal requirement that you need to be either registered through HMRC for Money Laundering cover or have a practicing licence from a recognised supervisory body that will give you MLR cover before you start.

Are you with a professional body already? It's not a necessity in order to be a bookkeeper but if people put their professional body in their first posts then when answering subsequent questions people on the site will know approcimately where you are coming from. (i.e. if your ICAEW you don't need someone trying to explain something to you in basic terms).

Hope that you enjoy posting on here,

kind regards,

Shaun.



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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.



Newbie

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Hi Shaun,

Thanks so much for your reply.

Because I have always been employed, the whole self employment scenario is very new to me. What do you mean by "you need to be either registered through HMRC for Money Laundering cover or have a practicing licence from a recognised supervisory body that will give you MLR cover before you start"-does that just mean that I have to be registered as self-employed with the HMRC for tax purposes? What is a practising license? I didn't know that I needed a license to start working....

I am qualified by experience (26 years!) and have my AAT qualifications.

I have a potential client who has 2 years worth of accounts to be done which may take a little while.

I would appreciate any further comments/advice you are able to offer.

Many thanks

DeeGee

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Forum Moderator & Expert

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Hi DeeGee,

being registered for Money Laundering supervison is quite seperate to registering as self employed.

With you current employer you will have had to sit through the training DVD's talking about your responsibilities in relation to money laundering.

Offering your services direct to the public now puts you in the position of your current employer in that you are legally obliged to be registered for money laundering purposes and to perform the tasks that your current employer does in relation to money laundering.

Basically, when you go alone all those things that you've taken for granted in the past as things that are just there and you don't need to concern yourself with suddenly become your sole responsibility and carry penalties if you get it wrong.

The maximum penalties for not being registered for MLR include imprisonment and a potentialy unlimited fine.

There are two ways that you can cover yourself for MLR. Either by attaining a practicing certificate through a supervisory body that is able to cover you for MLR (Such as ICB, IAB or AAT) or by registering through HMRC for MLR cover which will set you back £110.

You state that you are with the AAT so you will need to check with the AAT that you would be allowed to use HMRC for MLR cover.

If you are at MAAT level then you really should be looking at moving to MAAT MIP (Member in Practice) which will give you MLR cover without going via HMRC.

Ensure that nothing you do upsets your AAT status. Until you are a MIP I believe that there are restrictions as to the services that you can offer but thankfully the AAT restrictions are not as draconian as some of the other bodies out there.

I think that the main gist of the AAT restrictions is that until you attain MIP you are not allowed to use their name at all and must not perform tasks that you are not sufficiently qualified to perform.

Have a look at these two threads that you will find useful (just cut and paste the links into your browser):

http://bookkeepers.activeboard.com/t47322386/starting-a-book-keeping-business/

http://www.book-keepers.org.uk/t41520681/money-laundering-regulations-help/

Hope that those help cover any AAT and MLR questions.

After you've had a read though feel free to either post any questions in here or bump either of those threads back up to the top by asking any questions that you have specific to those threads.

kind regards,

Shaun.

__________________

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.

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