The Book-keepers Forum (BKF)

Post Info TOPIC: Advice Please


Newbie

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Date:
Advice Please


Hi All, 

I have just completed my AAT Level 4 qualification. 

I work in the accounts/admin of a business (not in practice).

 

I am thinking of setting up to offer a book keeping service for local sole traders and partnerships alongside my full time job. 

 

Any advice on starting up would be great! 



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Joanne Setter


Guru

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Posts: 1363
Date:

Hey, welcome.

What sort of advise are you looking for?



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Johnny  - Owner of an overly-active keyboard. 

A man who can read, yet doesn't, is in no way wiser than a man who can't.

 



Guru

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Posts: 1363
Date:

Notable mentions.

Are you a full member of the AAT or an affiliate? I know now there is a bookkeeping membership level - reason is that if you're a MAAT the rules are different than if you are not a full member.

MLR cover you'll need, PII insurance you should get.

Decide on software - continue to read on here, in your books, on HMRC site.

There are some folk who work in accountancy who have it written in their contracts that they are unable to work elsewhere/from home/for others whilst employed. Probably worth checking that out.




__________________

Johnny  - Owner of an overly-active keyboard. 

A man who can read, yet doesn't, is in no way wiser than a man who can't.

 



Master Book-keeper

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Posts: 8646
Date:

Hi Joanne
Another Joanne here! Welcome to the forum for of all. I can see that you are based nowhere near me so happy to help where I can. As Johnny says - would be good to know a bit more in terms of where you stand with the AAT - just a member, or aiming to get your full licence through them (MAAT MIP) or even just the bookkeeping licence (AATQB), although the latter is aimed at level 3 passes and is more restrictive in terms of what you can offer.

If you dont aim to practice under the AAT banner then you cannot mention them at all in any advertising (websites, businesscard, blur blur blur) and you would need to consider practising under someone else's banner (eg IAB) or under your own steam.

Getting MLR cover (via the practice licence route or via HMRC direct) is an absolute must. Without it you can be fined, imprisoned or both.

As Johnny says - PII you should get - not mandatory but crazy not to have it.

Any reason why you are not looking to do Limiteds?

There is a ton of stuff on here for you to have a look at. For software and general issues any post goes, but for anything changeable like tax then I wouldnt go back more than a few months.

How many hours realistically do you think you can set aside for such work per week? Thats a biggie, although there are a fair few on here who do what you are doing so just dont take on too much too sign - remember the first client you take on will take a lot of time whilst you work through what systems, software etc to use. Also - always allow time for extra reading as you will find that most of your learning starts on the job.

Good luck and look forward to hearing more from you.

__________________

 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



Senior Member

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Posts: 119
Date:

 

Hi Joanne

Welcome, I am a newbie to this forum as well.

I only started my business last year and similar to what you want to do I have started out by taking on small businesses mainly in the building trade, so far it is going well.

I found actually setting up took quite a while and must confess that I got most of the information on what I needed to do from reading comments on this forum, listen to all the advice that is given to you on here (not by me but the others) and you wont go far wrong.

Good Luck

 



__________________

Doug

These are only my opinions of how I see things and therefore should not be taken as advice



Master Book-keeper

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Posts: 8646
Date:

Can see the OP has been on. Any thoughts back to us?

__________________

 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



Guru

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Posts: 1363
Date:

It's annoying, you want to welcome someone new, you want to offer advise even if you've answered the same question - more than once.

Ahhh people.

__________________

Johnny  - Owner of an overly-active keyboard. 

A man who can read, yet doesn't, is in no way wiser than a man who can't.

 

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