I'm setting up an accounting practice with an ex-work mate. My co-director is AAT qualifed and has her MIP certificate. I'm also AAT qualified. Do I need to get a MIP cert too? Is more than one MIP needed per company? I can't figure out from the AAT website if the cert is related to the person or the company?
good question. (when I say that it generally means that I don't know!).
You could try phoning the AAT as they tend to be quite approachable.
However, even if they say no you have the option of working for your partner in which case you don't need to be a MIP.
Also, if it's a company I think that you will find that provided a MIP owns more that 50% on the business (so 51%) then that would be the only one who needed to be a MIP. Again, worth getting that confirmed by the powers that be at the AAT.
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.
I'm setting up an accounting practice with an ex-work mate. My co-director is AAT qualifed and has her MIP certificate. I'm also AAT qualified. Do I need to get a MIP cert too? Is more than one MIP needed per company? I can't figure out from the AAT website if the cert is related to the person or the company?
Any help would be appreciated.
Ali
Hi Ali,
It depends on the structure of your company. If you are employed by your partner you don't need to be an MIP. But if you are in partnership and practicing in your on right rather than being empoyed then you must be an MIP. The AAT rules state that it is the indivudual who is an MIP not the firm. (This is the case with all bodies - eg all the partners of PWC will have practicing certificate ie an MIP equivilent)
Gin
-- Edited by GinnyBee on Friday 1st of June 2012 02:04:42 PM
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