I've just got my AAT Bookkeeping license so I'm hoping to find some new clients soon to build up a small amount of business. As an AAT licensed bookkeeper I can only do bookkeeping, financial accounts and accounts prep for sole traders, VAT, and training on computerised accountancy systems. Seeing as I can't submit self assessments tax returns or company tax returns, I'm struggling to understand why anyone would hire me unless I can offer them the full package. Obviously the selling point is that they would save money hiring a bookkeeper for bookkeeping and then an accountant for year end work, but I'm not convinced that any business owner or self employed person would really want two separate parties involved in their finances.
It was quite expensive to get the license, pay the fees, and get the PII, and now I'm wondering if its going to be a complete waste of money if I can't get any clients. Has anyone else offered similar bookkeeping services without tax returns and been successful with this?
Didn't you realise you would be restricted from offering self assessment returns? Please don't take this the wrong way as it's not specifically directed at you personally, but are you competent to complete accounts including self assessment?
Assuming you are, you've got a couple of choices. Set up your business and get MLR from HMRC, then make no mention of your AAT qualifications. I would then complete the AAT accountancy courses and get your MIP certificate
Promote your qualification, and find a friendly accountant who you can use to complete the self assessment.
We also have a lovely lady on here called Joanne who only does bookkeeping to trial balance, although she specialises in Ltd Companies, and makes a decent living. Foe the Sole Trader side though I do see your point, and most small businesses will be looking for the full package.
-- Edited by Leger on Tuesday 15th of November 2016 11:30:05 AM
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John
Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
Thank you John for your kind words. ğ
A more than decent living Im very happy to say.
Always always read the small print Sammie. Although I agree with Johns point about your readiness given the start of the tax modules are at Level 4 and AATQB is avail after level 3.
Plus it would cost you more in fees to have gone with HMRC, despite what you think of the AAT fees at your existing level and there is plenty of non self assessment work that you can earn a bloomin good living from.
Don't forget you cannot refer to any services you cannot perform under your AAT licence or they can impose fines, bans and other possible sanctions.
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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
Hi,
Im in a similiar position, I dont prepare tax returns or final accounts (not even for myself).
I just take on work which warrants a bookkeeper and an accountant - ie I wouldnt bother with say a taxi driver; I know a chartered accountant would do everything all in for say £350.00, just isnt worth getting involved.
