I've worked in practise for 11 years, working my way up from bookkeeper to completing accounts and tax returns and I'm a full member of AAT. However I am planning to take a step back from accounts and taxation and start bookkeeping on a self employed basis. My boss has very kindly given their support and will allow me to go part time while I find my footing.
My initial plan was to use my knowledge and experience to complete the bookkeeping including year end adjustments such as accruals and depreciation etc. Most bookkeepers I've seen in my area only do bookkeeping, and I figure this will bring a little something extra without taking up much more time and this is the part I enjoy most.
I've looked into the costs of fees for start up etc, and am undecided what to do with my AAT. I understand under AAT my AML will be covered, which is great and they will likely provide some security blanket. However what I was planning on doing doesn't fit with their bookkeeping licence.
After a telephone call with them... If I wanted to do any year end adjs for Limited Companies I would need the accountant licence. I might be naive from working in practice, and please correct me if I'm wrong, but I feel this is excessive for just doing some adjustments that are going to be reviewed and confirmed by the accountant finalising the accounts etc.
I had at first planned to cancel my membership with AAT as I find clients don't notice the letters or care about the membership and it will help with costs. But colleagues have suggested keeping it would be more beneficial. Also reading other posts on here it was mentioned that you can't even say you hold their qualification? would that really be the case?
Has anyone else had similar with AAT or any other professional body?
Basically I'm weighing up the pros and cons of staying with AAT and if anyone has any insight or two cents to add, it would be greatly appreciated!
Thank you all in advance.
-- Edited by Woodwitch on Monday 17th of October 2022 03:07:45 PM
