Working for Myself
I have worked in Finance now for over 10 years, qualifying as an ACCA 3 years ago. I would really like to work for myself one day soon, but as I have always worked in industry rather than practice I do not have the necessary experience to apply for an ACCA practising certificate, which all ACCA members in practice must have. I have been applying for practice jobs for the last 3 years (since qualifying) but have had no success.
I am therefore left with 4 options:
1. Resign my ACCA membership and set up in Practice. I can still call myself an Accountant (as can anyone!!) but obviously I really don’t want to throw away all the hard work and sacrifice I spent studying for 5 years!
2. Resign my ACCA membership and join the AAT, their guidelines seem a lot less stringent!
3. Work within the ACCA guidelines, only doing basic bookkeeping etc.
4. Set up a Practice as a LTD company with my wife as Managing Director and employing me as an Accountant. Not sure if this would work but technically I would be an employee not a partner or director in an Accountants firm so I could continue to be an ACCA member but would not need a practising certificate (I think?).
Does anyone have any suggestions/advice particularly on the legal/ethical position of option 4 above? I really don’t want to give up my ACCA membership, nor do I want to mislead any clients. All I want to do is work for myself and give clients comfort that I am a qualified experienced accountant, who knows what he is doing, along with maintaining the recognition for all my hard work.
- client threatening legal action 1,786 27
- Twenty signs your practice is bad at tax 665 8
- Partially exempt? 234 9
- Reclaiming EU VAT on fuel and expenses 82 1
- First VAT Visit for client 212 4
- Dividend in specie 222 7
- VAT on imports and the Flat Rate Scheme for VAT 154 8
- Lorry Drivers 131 2
- Redundancy payment added to p45 71 1
- Partnership registered in error. No activities with view to profit. 82 1
- Mexican student in UK 113 2
- PI insurance for Auto Enrolment 193 3
- Accounting Practice acting as an employment agency 291 12
- payroll software 108 1
- No Tax Returns submitted for last 16 years 1,047 25
- Complicated Company car purchase 95 1
- Pricing 329 10
- Late VAT registration penalty 245 5
- VAT 115 2
- QuickBooks, Xero, FreeAgent and ClearBooks 849 18
- Skandia using wrong address 483
- Does anyone use PS Financials accounting software out there? 278
- FHL, period of grace and Entrepreneur's relief 272
- Employee rewards 257
- Legislation access for part-time sole practitioner? 222
- Rental Property W&T And Equipment 215
- EPS Analysis - Change to EURO 213
- Gift of reversion and lease into trust by two different people - later PPR 208
- Etax Australian 169
- Annual Management Charge Rebates and Self Assessment Tax Return 158