I am Level 3 AAT qualified and setting up as a self employed Bookkeeper again ( I did this for a short time in 2011). I was wondering if I am able to offer Self Assessment and Tax Returns at this level and if so how do I learn how to do them?
It was never covered in college and I haven't done them in any of my bookkeeping roles whilst in employment.
surely if you set up as a self employed bookkeeper in 2011 you should have done your own return then and once on the treadmill of self assessments few people get off it.
To learn tax before doing the AAT business and personal tax modules try "Taxation" by Alan Melville. Its a book aimed at both newstarts and seasoned professionals.
CT600's can be complex and unless you have the knowledge, experience and confidence I would stick to looking after the self employed (after reading and doing all of the 250 excercises and working through all of the 250 worked examples in the above book).
Remember that until you are MAAT MIP you can make no mention at all of your affiliation to the AAT when offering your services.
As for courses, yes, AAT level IV Personal and Business taxation.
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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.
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.
Unfortunately when I set up last time although I gained a few clients my children were still very young and I only did this for a very short time. I wasn't very confident and I held back alot I think I was that intimidated by it that I stopped altogether. Theres so much to know and even with the two qualifications and experience in Accounts and Payroll I still feel that I don't know enough. I looked into finishing my qualifications off but the college said I would have to start from the beginning as the standards have changed since I gained my Level 3 :( I just feel so lost. And dumb! I don't know where to start with it all.
Since 2013 I have been completely out of accounts and bookkeeping it is so so difficult to find jobs in my area even simple jobs like supermarket work is hard to come by. I've been looking for work for 18 months now and its getting to the point where I can't afford to live and this seems my only option to grab the bull by the horns and start up properly and to gain the knowledge I need.
I have an appointment at the jobcentre on Thursday they are putting me in for refresher courses in Sage Accounts and may have some other little accounts courses and also a new enterprise allowance kind of like a start up grant so fingers crossed that helps.
In the mean time I really need to brush over everything else :/
Hello again Noola
Can I just clarify - the college said you need to start from the beginning???!!! Just where did you get to - did you do some level 4? Plus what 'beginning are they referring to?' Sounds like it is just an excuse to weedle money out of you to me.
You can do a unit at a time with the AAT and thats the beauty of it, so if you have passed some of level 4 then (as far as I am aware) you just take the rest until you have finished.
Just think of it this way - if you gained a few clients last time when you had young children to look after as well, then you can easily gain a few this time. Once you have a few - you just keep building on it! The amount you dont know can be scary (Im the same) BUT Ive said this a lot on here - you only really learn whilst in the role in this game. You never know from client to client what they are going to throw into the mix - Ive had some very odd ones on here that the clients Accountants didnt know about - but you learn as it happens. I didnt know anything about importing until I had a client who started importing - not saying Im an expert now, but I know what I need to know to get his books done.
Just to add some background here - I am a bookkeeper, not an Accountant. I only look after Limited Companies (my choice as I cant be doing with all the personal tax stuff, but everyone likes different specialisms) and I only work up to trial balance.
Go for it and good luck.
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
Yup :( college said I can't start at Level 4 because the standards changed in 2013 and my Level 3 from 2011 basically means nothing to them YET Liverpool University were willing to let me start a Film Studies course using the UCAS points from my Level 3 AAT! :D Its madness!
They said if I were to restart from scratch there wouldn't be a problem although because my Level 2 and 3 were paid for because I was unemployed at the time that I completed them I would now have to pay to do them again. Also there was a possibility I would be able to restart at Level 3 BUT I would need to do an exam to show how competent I am at Level 2 first. Its just a massive mess.
I gathered if I have to start all over again I may aswell study something completely different. I applied for lots of different courses in September at various colleges and universities and I don't know what happened but my luck had it that I wasn't accepted for any. And so its too late to enrol onto anything else. I just don't get it.
Sorry I'm rambling!
I'll look into ATT and I still have my accounting books so I'll go through those again and get up to scratch with HMRC etc.
You're right I think I just need to deal with whatever comes my way bookkeeping wise and learn as I go along. I figure there is always an answer, or a way of getting an answer if you're unsure of something. I think last time my problem was that I didn't want to 'bother' the clients accountant if I was unsure on something as I didn't want them to think I was incompetent. They seemed very snooty and unapproachable I suppose its all about building a bit of a relationship with them and work together to suit eachother.
Hi Noola
Do me and frankly yourself a massive favour - phone First Intuition (Nick and Neil from there both post on here and FI have won training provider of the year this year and Nick trainer of the year). They will tell you very honestly what needs to be done as Im pretty sure the college are giving out duff info. You can actually also go on to the AAT website and do a skills check. If you start at Level 4 you can brush up your level two and three skills very easily on the AAT website members area (called My AAT) anyway.
You can always get help on here - I find this place great for swapping crucial info as well as having a laugh and not feeling like you are talking to four walls whilst working.
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
