I have completede my AAT a few years ago and recently started the ICB course (for my own confidence after so many years out of studying) and because of the support they offer after.
I am also about to apply to the AAT for my full membership as I have the relevant work experience and feel i am wasting my qualification but I am wondering what happens when I get to the stage of becoming a member in practice.
Ive noticed many people that use both qualifications after there name, however Ive seen that the AAT website states that to offer services as an AAT Member you have to be a Member in Practice with them, so does this mean that if I were to just become an MICB MIP I would not be able to use my MAAT Status or do I become MIP for both?
Also what is required to become an AAT MIP
Many thanks
-- Edited by Bethan82 on Thursday 13th of June 2013 08:03:52 PM
As far as I am aware, for any professional body if you want to offer services you must have their practice licence, regardless of any other body you are a member of.
I know this to be true of AAT and ICB, so if you are a member of both, then you must have a practice licence from both.
However, you choose only 1 as your supervisory body for MLR. The AAT charge £80 on top of the MIP fee, the ICB is free and includes free AML software to help.
You have to have two practice licences PLUS!!!! two different PII's... How ridiculous is that.
Its like the old thing about having your building and content insurance with seperate companies as both would say that it is the others problem.
Anyway, went off topic there. Yes, other bodies have similar arrangements.
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.
5 years experience in every service you wish to offer A professional reference An employer reference Evidence of 12 months CPD Name and address of someone who will continue your practice in the event of you being ill or croaking it PI insurance (you can get this through Trafalgar, who work with the AAT)
You complete two tests online for MRLO and Ethics, before doing anything
I also took FMAAT status, but I cant remember of hand if I needed to do that for the MIP status, or if I just took it anyway. I think I needed it.
Ring the AAT, they are really helpful and will guide you from where you are now, to where you need to be.
How much you pay depends on how many clients and what your earnings are. There are two route - Registered, and, Licensed.
I have attached a copy of the application form for you, along with the supporting help sheet. I cant actually see anything about the 60 month experience on there, so I will see if I can find what it was I looked at when I was applying.
-- Edited by FoxAccountancyServices on Saturday 15th of June 2013 11:08:29 AM
Thanks for your replies, do I have to have the MLR for both or can I just have this with the ICB.
I'd really like to get my MAAT status as I've earned it but obviously need to take the cost implications into account, does anyone know what the requirements are to become an AAT Member in Practice and also the current fees?
Many thanks for that Michelle, I have quickly read over it and it looks like my best option may be to stick with the ICB and maybe come back to the AAT in the near future which is a shame, I will give them a ring Monday for a clearer picture of what I need to do, but I do have just a couple more questionsif you don't mind?
Would the ICB course count towards my CPD
Also I have the bookkeeping experience, but not the self assessment as of yet, would I be allowed to practice under the ICB doing Self Assesment Or would I be restricted by the AAT?
