Can I become a self employed bookkeeper??

Can I become a self employed bookkeeper??

Didn't find your answer?

Hi, I am currently studying my level 4 AAT after having the level 2 & 3 under my belt. I am currently employed as a bookkeeper in a small electrical installations company where I have been for 3 years. ( I had 2 years experience before hand in the same role). I've also just landed myself a job as a self employed bookkeeper in my firms current accountancy practice who do our EOY. This is for only one day a week,and I am on a 6 month contract. This I'm really over the moon about, as it will give me great experience in gaining accounts experience in different industries and different software packages. Currently in the company I work for,I use tas books for the accounts and sage line 50 for payroll. The payroll I do is basic should I add! I have working experience on sage, but this is stale should I say, as this was four years ago. I currently do every task till EOY for my company, Vat, payroll, sales ledger, purchase ledger, CIS returns, all payments and receipts, bank rec, ledger rec , bank controller. Do you think I could be ready to or am qualified enough to do tax returns for sole traders. Tax is the area I am interested in and want to go into.Me and my friend who are both studying the level 4 together, want to join forces and start our own business in bookkeeping up to trial balance then completing the tax returns also. I have just read on the aat website, that I need to complete the level 4, then apply for WIP with them for self employment, But I have no proof of work experience in the tax area for the tax return part. The bookkeeping proof of experience part I can show,but what about the actual tax returns? From what I can gather, it's all down to having the right insurance set, if I wanted to be a self employed bookkeeper and do the actual tax return too. I am currently studying the personal tax and business tax module in the level 4 and finding it very interesting (I'm boring I know! Lol) but I love it! So can I do the returns without the working in practice part of the aat?? Or without this would I be treading on dangerous ground, because of lack of experience? I'm thinking if I can't, I could do the bookkeeping part, then pass on to the accountants I know to do the actual return? Would I still make profit??? I would really appreciate anyone's advice on this? Thank you. Maria

Replies (4)

Please login or register to join the discussion.

avatar
By duncanedwards
30th Sep 2014 00:18

Maria baker wrote:Do you

Maria baker wrote:
Do you think I could be ready to or am qualified enough to do tax returns for sole traders.

Unless I have misread, you have no experience of this and no tax qualifications, so I would say absolutely not.

Maria baker wrote:
From what I can gather, it's all down to having the right insurance set, if I wanted to be a self employed bookkeeper and do the actual tax return too.

Not sure what you mean about insurance but I suspect insurance will not cover you if you attempt work that you aren't qualified to do.

 

Can't comment on the rest of your question. If you like tax, then do some further qualifications (ATT?) and try to get some practical experience.

Thanks (1)
the sea otter
By memyself-eye
30th Sep 2014 08:58

It is unlikley

That sole traders will want to pay you to be a bookkeeper and then pay someone else to prepare and submit their SA returns and you would find yourself being asked and expected to know accounting matters outside of bookkeeping.

You seem to be doing the right thing at the moment - get more experience first.

Thanks (1)
blue sheep
By NH
30th Sep 2014 09:06

no need for ATT

There is no need for any extra qualifications, AAT will give you all you need, however you will need more experience in tax before you can advise clients properly.

Thanks (1)
avatar
By Maria baker
30th Sep 2014 09:32

thanks
Hi, thanks for the response everyone. I'm going to look into doing the att after then. Do not know a lot about this qualification, but will ring them up and ask. Hopefully, I could get into some tax work in the practice I am going into. I know one of the managers in the firm, as she does the leg work for our EOY. I know she is ACCA and last year passed a tax degree, so I'm assuming this is the field she wants to specialise in. Even If I could shadow her in some tax work. If not, I will just offer my services one day a week free of charge,just to get experience! Getting qualifications is good, but as I am starting to learn, experience is the key aspect, the qualifications are just the cream on the top! So if any of you who that have replied are in the tax field and would like a helping hand one day a week free of charge, or know anyone else, then I'm there! ( I'm from Romford in Essex)Thanks for the advice again! Maria

Thanks (0)