Hi, I'm new to this so hoping someone can help! I passed the levels 2 and 3 IAB exams in April this year in Computerised Bookkeeping and Payroll and am now in the process of setting up to operate as a self-employed bookkeeper. I have everything in place, with my website currently being built, however I was hoping to get clarification on what I can do! Throughout all my training, I have understood that with level 3, I can offer bookkeeping and payroll services to sole traders, small companies and partnerships, but cannot offer these services to Limited Companies. Is this correct? (My training provider have been quite unhelpful and vague, so I don't trust their opinion too much!!) If so, can anyone advise what further qualifications I would need to gain to offer these services to Limited companies?
Best people to ask what you can and cant do is IAB.
You dont need any qualifications to do bookkeeping and payroll for ltd companies though being part of a professional body may restrict what services you can offer.
Thanks for your reply - I would have said that a small company may not be limited I suppose, depending on how it has been set up, although I stand to be corrected of course! I'll contact the IAB and see what they say.
GillyP wrote:I would have said that a small company may not be limited
Of course there are lots of one man limited companies out there.
Many limited companies do not even hit the VAT threshhold but agencies will not work with the self employed leaving contractors with no option but to incorporate even though in some cases they are very small (< £50k turnover).
As Mark suggests, bes that you clarify the scenario with your supervisory body as their rules and definitions do tend to change quite regularly so any advice we give may prove out of date.
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.
Sorry, my typo - I did mean to say that small companies may not necessarily be limited, rather than small companies would not be limited. Anyway, the IAB have confirmed that I can offer services to limited co's after all, which is great news.
