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Man of Kent
By Kent accountant
20th Feb 2013 11:12

Do yourself a favour

Actually make the effort to search this site for articles, blogs and threads which cover this subject in infinite detail.

Then, if you still don't know...well... 

Initial view - you haven't got a scooby.

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Replying to nick farrow:
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By moazzam7871
20th Feb 2013 11:25

Thanks for your reply

Kent, Many thanks for your reply.

I have phoned to HMRC and they said to get register under money landering supervision and to get PI insurance. So i think it is possible to open accounting business, as i am not member/student of ACCA or AAT, as i think if you are student/member of these bodies then you need to wait til you are fully qualified. Also i am aware that i can not carry audit work or sign accounts. What i am confused at the moment is what job title can i use in my advertising material (Accounting Technician or accountant)  other than director. Also can i prepare accounts/VAT returns for self employed.You kind advice will be quite helpful me for me. Thanks in advance

 

 

Kent accountant wrote:

Actually make the effort to search this site for articles, blogs and threads which cover this subject in infinite detail.

Then, if you still don't know...well... 

Initial view - you haven't got a scooby.

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Replying to DJKL:
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By BigBadWolf
20th Feb 2013 11:40

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moazzam7871 wrote:

I have phoned to HMRC and they said to get register under money landering supervision and to get PI insurance. So i think it is possible to open accounting business,

It is possible

 

moazzam7871 wrote:

Also i am aware that i can not carry audit work or sign accounts. 

Good to know you have a little awareness

 

moazzam7871 wrote:

What i am confused at the moment is what job title can i use in my advertising material (Accounting Technician or accountant)  other than director. 

Cowboy??

 

moazzam7871 wrote:

Also can i prepare accounts/VAT returns for self employed.

Do you have the required experience or knowledge of Tax and VAT?

 

Why don't you try and get a job in practice - gain the relevant practical experience and knowledge first?

Learn to walk first - before trying to run!

 

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By mrme89
20th Feb 2013 11:19

I agree with Kent Accountant - there are lots of articles relating to this subject. Part of being an accountant is having the ability to research.

 

Can you start an accountancy business? Yes

 

Should you start an accountancy business? Probably not. If you only have a degree and no experience, you will not have the experience needed to advise clients on accounting and business issues.

 

The services that you propose are that of somebody working within an accounts department for a company. I would therefore suggest you find employment and gain a professional qualification, rather than start self-employment.

 

I’m not sure where you stand calling yourself an Accounting Technician. However, you can call yourself an accountant as it’s not a protected term.

 

 

Kind Regards

John 

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By ireallyshouldknowthisbut
20th Feb 2013 11:27

.

Why not just call yourself "Cowboy Accountant & Co." 

At least people will know where they stand!

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JC
By A_non
20th Feb 2013 11:42

Experience is the key...

...or you will be like fish without water....

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By carnmores
20th Feb 2013 11:45

ignore the gainsayers

how unhelpful do people need to be , its sad

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By moazzam7871
20th Feb 2013 11:46

Experience

Many thanks for your reposnses. I do have three years experience in practice/industry, but no other professional qualification.

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By mrme89
20th Feb 2013 12:05

@ Carnmores – I can

@ Carnmores – I can understand the frustration of accountants when they see posts like this, when the poster clearly doesn’t have enough experience to set up by themselves. However, I do agree that some constructive criticism would be more helpful.

 

@Moazzam7871 – I’m sorry but I don’t think that three years experience equips you to set up by yourself. I have 7 years experience (1 in practice and 6 in industry) and don’t think I would be experienced enough to start an accountancy practice. If ultimately you want to eventually start your own practice, I suggest you try find employment within a practice to gain more experience.  

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By Tosie
20th Feb 2013 12:08

bookkeeping

Call yourself a bookkeeper as that covers the services that you are offering.

 

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David Winch
By David Winch
20th Feb 2013 12:23

If you wish . . .

You can set up as a self-employed person and call yourself "accountant" or "book-keeper" if you wish.

You would need to register with HMRC under the Money Laundering Regulations 2007 (and there is a fee for that).

You can prepare and sign accounts for the self-employed, partnerships and limited companies (but you cannot audit the accounts of companies that require an audit).  You can also prepare tax returns and act as a tax agent.

Whether you would be wise to do any or all of these things is another question.  But it's your decision.

David

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By refs8
20th Feb 2013 12:25

Go for it

I am waiting for the firing squad....!!

Speak with the ICPA and have a chat with Tony. If after that chat you think it is right for you then go for it, but by only putting you toe in the water and by taking very little risks to gain the experience.

Don't risk your full time job. I started in my kitchen with one client a mobile catering van client, then a carpet shop and went from there. 22 years on still at it ! Delivering Pizza's at night !

Qualifications by law don't matter make sure you register with HMRC for ML. There are lots of good accountants both qualified and unqualified. Take as much advice from people you can trust. 

I agree three years is not long, but I had one years when I started but was careful what I took on.

Good luck with it !

 

 

 

 

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By LearnerAccountant
20th Feb 2013 12:56

Interesting.  What happens

Interesting.  What happens when you declare yourself as a Tax Adviser on the clients Self Assessment form.  What qualifies a person to be a tax adviser? Can a book-keeper preparing accounts and Self Assessment for say a plumber or electrician call themselves a tax adviser to that client?

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By jon_griffey
20th Feb 2013 12:57

Why not franchise?

If you have no experience and don't know what you are doing then maybe a Taxassist franchise is for you.  That sounds very much like a swipe but I quote...

 

"You do not need to be an accountant to join us. If you are concerned that you might not have the right experience, don't worry"

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Replying to Tornado:
Glenn Martin
By Glenn Martin
20th Feb 2013 16:06

A lot of Cash Needed

jon_griffey wrote:

If you have no experience and don't know what you are doing then maybe a Taxassist franchise is for you.  That sounds very much like a swipe but I quote...

 

"You do not need to be an accountant to join us. If you are concerned that you might not have the right experience, don't worry"

 

You may not need to be an accountant but if memory serves me right you need about £30K to set up with Tax Assist

 

 

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By chrisdxuk
20th Feb 2013 13:08

Take this one's advice

Why not contact Suze.....

http://youtu.be/hynTXE2dZao 

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By ireallyshouldknowthisbut
20th Feb 2013 14:08

.

I've always fancied being an airline pilot.

I can drive a car, and worked in a an airport for 3 years. I have also played computer games with flying in. 

Anyone who says I might be better doing some sort of training is just wrong. 

 

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Teignmouth
By Paul Scholes
20th Feb 2013 21:35

You are absolutely entitled....

to set yourself up as an accountant and do what you are capable of and take advice or seek training for any areas in which you are not experienced.

At the end of the day that's what I and most people on this site do (even the rude hubristic ones).

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By justsotax
21st Feb 2013 09:20

would agree with paul...

indeed no matter how much experience you have you still learn stuff when you go into practice on your own.....oh and by the way there are many 'accountants' who do not necessarily have the  experience in tax (but they still manage to prepare tax returns and give tax advice....)

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By moazzam7871
05th Mar 2013 13:07

Thanks everyone. This forum is really useful.

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