Bookkeeping | AccountingWEB


I hope this is ok to post here, I don't want to start a full practice, just my own bookkeeping business, and was after a bit of advice.

I am AAT qualified, but let the membership lapse when I gave up work 8 years ago to have a baby. 7 months ago I got a part-time bookkeeping job, and then picked up another day a week through word of mouth, I went as an employee on both jobs initially, but have decided to go self employed.

I am aware I need to get some form of Public liability insurance, and do something about Money Laundering regulations, does anybody have any recommendations of companies that offer this?

Is there any benefit to going back to being a fully signed up AAT member? The two people I currently do work for wouldn't have a clue what that meant.



scalloway's picture

Advantages of AAT Membership

scalloway | | Permalink

Rejoining the AAT will give you some advantages.You will need to register as a Member in Practice (MIP).

Trafalgar Insurance do special rates for Professional Indemnity Insurance for AAT members.

Being an MIP will also register you for Money Laundering without further payment.

The HMRC page on registering for money laundering is here





Good Questions

chatman | | Permalink

I don't think many of my clients know what a Chartered Accountant is, and I often wonder if it is worth paying the fees they charge. Could you start going without your AAT membership and only get it if people start asking for it?

Actually, now I come to think of it, you do need to be registered for anti-money-laundering purposes with a recognised regulatory body or HMRC, so AAT might cover that angle for you and save you registering with HMRC if AAT is a recognised regulatory body.

As far as PII goes, you could just call a few brokers. I use Bluefin, but there are others which I am sure you could find on Google.


vdeepan3 | | Permalink

I have taken PI with them and their prices are reasonable. 

Thanks for all your advice. I

oligeo | | Permalink

Thanks for all your advice. I'm trying to figure out on the AAT website wether I can re-register with them, it doesn't look that straight forward, if I've understood it correctly I need to be proving my abillity to work over a period of time, so I guess I'll have to register for money laundry regulations elsewhere for now.



righthandbat's picture

good luck

righthandbat | | Permalink

Hope everything goes well for you. I am looking to set up myself offering tax return completion, small trader accounts, enquiry/investigation advice etc. If by any chance you are in SE London/Kent maybe we can put work each others way if anything comes up?


Good luck



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