I work full time as an Assistant Management Accountant but also want to do some freelance bookkeeping and accounts in my spare time.
I've not yet secured a client as I have not really marketed myself. I've just phoned a local taxi firm to ask who did the accounts for their drivers.
The manager there told me to drop off my business cards and he will ask the drivers if they are interested.
My question now is are they easy to do? I've been on diy accounting site and they have tailor made spreadsheets readily made for Taxi accounts.
It looks simple enough but are there other things I need to know about like what they can and can't claim for? Surely a call toHMRC or a question to one of you guys on here would answer any queries?
Would this be a good place for me to start? I want to start off very small until I build up confidence/experience and also know just how much of my spare time I want to tie up.
Don't want to be working 24/7 with no breaks at all.
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.
The links above are useful. I think I will approach them but with caution. I will make sure that they are logging their mileage otherwise I will not get involved. I am going to speak to the manager and clear a few things up before I approach them properly for work. They have a total of 40 drivers. As I said previously I am just starting out so want to build up nice and steady. Need to find a happy medium in how many extra hours I work.
I may also target electricians and plumbers. My boyfriend work for PTS which is part of the Travis Perkins group so an ideal place to tout for work. Also City electrical factors may be a good place to put my cards for electricians.
Yes, approach them with caution but taxi drivers can be quite check-able with regards mileage. Often, their repair invoices and council test certificates will have a mileage reading from which you can extrapolate annual miles covered. You can also work backwards from stated earnings through £'s earned per mile and arrive at work-related mileage. Put the two together and you have a private use percentage for capital allowances purposes etc. The £'s earned per mile should also tally with the amount they're supposed to charge with their particular radio operator.
I say all this in a tone of encouragement because if you gain confidence with a check-able taxi driver, then this will stand you in good stead for the other trades you mention.
I agree with Mark, I wouldn't be too focussed on one particular market. You can get too niche, especially as it isn't a specialist industry for you. By all means look in to the markets that can be tapped into easier but I would recommend broadening your horizons.
Do a bit of local networking, put ads in the parish magazine etc.
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Phil Hendy, The Accountancy Mentor
Are you thinking of setting up your own practice or have you set up and need some help?
If so a mentor may be the way forward - feel free to get in touch and see how I can assist you.
Thanks guys, I am going to target a few different markets. I would like to start with the easiest and smallest until I get some experience and find out how much time it will take up. I'm trying to get some through word of mouth as I have done my nephews self assessment but have drawn a blank so far. They submitted as soon as new tax year started. I may target plumbing and timber suppliers and see if they will allow me to leave some business cards. I have got a figure in my head to earn approximately £4-£5 a year so it's not like I am looking for full time work. I've written to a few accountancy practices but they have not responded. I looked at putting a free add in the Thomson Local but it's full of bookkeepers so I doubt anything would come of it, unless you guys can tell me different. Would you advise putting my card in the windows of local shops or do you think I may get nuisance calls?
I've just seen the thread about the "Self Assessment" exams. Do you think it is worth me sitting the exam and then at least if i pass it i can say to people I can do the self assessments? Where can they be sat and how much do they cost?
HMRC do not require for you to be qualified in order to complete self assessment returns. Such is only an ICB construct in order to give people more confidence in the process.
I can't remember the post but James (ICB) once wrote that not having the qualification does not stop you from providing a self assessment service. However, those with the qualification are likely to have more confidence that they are providing the service correctly.
The ICB SA paper is a distance, home based paper and will cost £41.50 to take.
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 think I will benefit from taking the paper. It will give me a bit more confidence. I've just spoken to ICB and I can apply for exemptions and just go straight in and do the SA exam. First I have to get work experience signed off for Levels 1 & 2. If they approve then I can apply for Associate membership and then take the exam. It my be the best option for me. As I am new to this I feel I do lack confidence. Once I get started and get some clients under my belt I am sure I will be fine.
The only issue I have now is I don't want my current boss involved in this as we don't particularly get on well. He's not very supportive of me doing CIMA so I am self funded doing that. I'll have to try and back track to my previous employer who I did get on well with and that is where the majority of my basic bookkeeping work was done.
It all seems such hard work, I just hope I get some clients at the end of it!
