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Start up advice

I would love to go self empolyed but want some advice on due diligence and software

Hi, I'm AAT qualified (level 3) and work as a book-keeper (not in practice). I would love to go self employed (I'm intending on keeping my job which is 30 hours a week and trying to build up from home) but wondered what due dilligence I would need to do apart from verify ID. I've read I would need to registed with HMRC for anti-money laundering as well. Any advice would be appreciated.

I also wondered what other people do in regards to software, do clients pay for their own software and you use it or do you provide it as part of your fee? Any other help and advice would be great (would love to hear from people who were in a similar postion to me but have gained some clinets etc and have some advice would be great).

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20th Jun 2017 09:34

If you are a member of AAT you need to get a practising licence from AAT and they can also cover you for AML. You would also need to take out PII cover. As you said AAT qualified to level 3 is this the Bookkeeping qualification and do you hold AATQB status? With this you can only hold a licence for basic bookkeeping.

I am in a similar situation. I am a full member of AAT and have recently been looking into going self employed while working full time. Currently deciding if I should carry on to ACCA or go part time self employed as ACCA rules don't let you do much while you are a student member

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By NeilRH
20th Jun 2017 09:35

You're correct in that you would need to register with HMRC for money laundering, as AAT's supervision only applies to full members (AAT do have a book-keeper grade membership, but I'm not sure if this includes money laundering supervision or what the criteria for this is - level 3 may be sufficient).

I would suspect that at least some clients would expect you to have your own software, others way need you to integrate with there's.

Since you have no practice experience, have you considered trying to obtain some sub-contract work from a practice?

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