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Accountancy Practice and Limited Company Status

I am a part qualified Cima and started last year a company providing business consultancy services. I have now received several requests to prepare and file sole trader and company accounts. I am happy to do this but I am conerned that it may not be allowed as I am a limited company. My object clause is a general clause. Additionally, is it also correct that I am not allowed to file my own accounts?

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17th Jan 2013 09:45

Practising Certificate?

You are part qualified - that means under CIMA rules you can't practise as an accountant, whether as a limited company or a sole trader!

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By neileg
17th Jan 2013 11:39

And...

BigBadWolf wrote:

You are part qualified - that means under CIMA rules you can't practise as an accountant, whether as a limited company or a sole trader!

You're probably not allowed to provide business consultancy either.
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By SunTzu
17th Jan 2013 11:04

Ah okay thankyou!

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By rehtg
17th Jan 2013 11:55

However....

...if you gain a practising certificate then yes you can practise via a limited company...

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By SunTzu
17th Jan 2013 12:08

Okay people. I should clarify this thread really. I was wrong to describe myself as a part-qualified CIMA as I let my membership lapse in the late 90's. I was considering re-joining CIMA (hence describing myself as part qualified) but if it stops me earning money then perhaps not! Shame really, i was quite looking forward to studying again.

Thankyou for all your advice.

 

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17th Jan 2013 13:00

Just out of interest,when and where do sole trader accounts have to be filed ? Perhaps your obvious lack of practice experience should also be taken into account - (ride 'em cowboy!)

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By redman7
17th Jan 2013 13:25

CIMA MiP

I'm a CIMA MiP and I trade through a limited company

Remember if you go it alone and not through a CIMA MIP route you'll need to do your own MLR registration (I don't know how that works). Also I don't know how easy it will be to get PI insurance. Or at least PI insurance that will actually cover you if needed...

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17th Jan 2013 15:13

Round 'em up rawhide, whoo,. whoo!! and who cares about the public being misled into thinking they are dealing with someone who knows the first thing about self-assessment!!

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