I'm kind of green at this game. I've worked in accounts for years, I currently am employed as a book-keeper at and accountants . . . . . but I never considered the MLR and PI insurance in my half thought out plans to go self employed as a book-keeper.
I enjoy doing the book-keeping part, I do not enjoy doing the accountancy part of years ends and tax returns!
I want to be able to 'do' peoples books, you know from creating, printing and mailing invoices to TB and Balance Sheet plus VAT returns. I can deal with CIS returns also - but can you do CIS returns via paper forms these days? At work we do it online, we have an agents ID on the MRC website etc - but if I'm just me doing a clients books, how do I get an agents ID?
I find I have no clue about some of these rather basic facts
Anybody out there prepared to run though a 101 class on the official 'stuff' I'd encounter in this pipe dream of being a self employed book-keeper?
PII is sensible but not compulsary. As you have more than two years experience you will find insurance companies more than willing to cover you. Try Hiscox and Morethan for starters. Neither are as cheap as Trafalgar but that's only available through being a practicing member of one of the supervisory bodies.
On that point, MLR cover is either through your supervisory body or directly through HMRC which will cost you £120.
Sure that you will have follow up questions after reading that one.
All the best,
Shaun.
Edited because I keep using the normal editor ratehr than the advanced one and you can't do embedded links with the normal editor.
-- Edited by Shamus on Sunday 1st of May 2011 06:07:55 PM
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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.
think that you just promoted the ICB by slipping chartered in there.
ICB - Institute of Certified Bookkeepers
IAB - International Association of Book-keepers
Apparently they don't even agree on the spelling of Book-keeper! lol.
We've got James on the site from the ICB and Frauke representing the IAB.
People on here tend to be a real mixture of book-keepers and accountants with members representing ICB, IAB, AAT, ATT, IFA, ACCA, CIMA and I would imagine any other body that you can think of (I know that we had an ICAEW bod but she hasn't posted for best part of a year now).
Don't worry too much about not recognising those two. It's a long standing comment that if you want to work for others then AAT is the way to go. If you want to work for yourself then ICB or IAB.
However, going down the AAT routre does not preclude you going freelance where ICB / IAB being quite poorly recognised by employers does tend to make things a bit more difficult the other way around.
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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.
Just a quick note on the spelling of Bookkeeper, the ICB did used to be book-keepers, but changed back in 2003 or somewhere around then as did the Oxford English Dictionary and took the hyphen out.
Therefore bookkeepers becomes the only word with 3 consecutive double letters.
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.
No, was definitely going for Pedant as in Pedantic.
Hows life in the sunny South West today?
I'm deep in P2 study and desperately trying to find any excuse to do absolutely anything else... much to the anguish of some poor woman who phoned doing a survey and I kept her on the phone for a chat! Actually, think I sold her on studying ACCA so she's now goiing to phone me back when she's not on work time.... Or maybe she just used that as an excuse to escape off the call!
Normally it's me trying to escape their calls.
Now, why don't the jehovah's witnesses call when I'm in this frame of mind. Would love to see them desperately trying to escape from a conversation!
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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.
Sounds as though your in the same frame of mind as well Bill!
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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.
Sounds as though your in the same frame of mind as well Bill!
To quote Churchill (the TV dog, not the brillaint Prime Minister!)
"Oh yes"
Got a months worth of bookkeeping (note spelling) from one of my less groomed clients to do. They literally do give me a carrier bag full of screwed up paperwork, usually after they have had a tidy up of the work van
Looking for any excuse not to start it.
Not so sunny West Country today. been blowing a real hooley for the last three days.
I have often wanted to turn the tables on a cold caller, and turn conversation into an opportunity
Got a months worth of bookkeeping (note spelling) from one of my less groomed clients to do. They literally do give me a carrier bag full of screwed up paperwork, usually after they have had a tidy up of the work van
Should be grateful I know but sometimes you just have to dispair.
When you find things like a five hundred quid FedEx invoice with no description, waste time trying to find out what it's for, only to be told it was for Cuban cigars imported in from Florida (paid on the partnership credit card) you know the day is going down hill rapidly
You're going to have to tell them not to be so lavish with their gifts to you Bill!
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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've worked in this field for how many years? and I don't recognise accronyms!
