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    By lionofludesch
    19th Sep 2019 09:51

    No, you haven't got very far, have you ?

    You can register with who you like for money laundering - as long as it's somebody.

    Sure you can do limited company accounts and corporate tax - what made you think otherwise ? What you can't do is audits. Unless you register for that - which I wouldn't think is a good idea as you clearly struggle with "dull".

    More homework needed, I'm afraid. Otherwise, this project will be a disaster.

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    Replying to lionofludesch:
    By Leanne2592
    19th Sep 2019 09:53

    Wow no need to be rude!

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    Replying to Leanne2592:
    By lionofludesch
    19th Sep 2019 10:32

    No ?

    Someone needed to stop you rushing into practice without adequate preparation. You weren't even sure what work you could undertake.

    Another satisfied customer.©

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    By Maslins
    19th Sep 2019 09:59

    From what you've said I don't see any reason why you wouldn't be able to get a practicing certificate. The ICAEW are then effectively your regulator for AML purposes.

    If you have no practical experience of payroll/personal tax returns, may be worth going on some kind of practical refresher course for those...or if you're in no rush and don't mind being a bit cheeky, ask if your current employer can give you a secondment/similar to get that experience.

    I found getting our first few clients very tricky. When just starting out, people won't come and find you. If you go and find them, good chance they've got an accountant already. Most will have the view "if it ain't broke, don't fix it", so will only consider switching if they're really fed up with their existing one.

    If you don't have any clear niche you're aiming for and just anticipate having a fairly "normal" local practice, my opinion on things to do would be:
    - do some local networking events (your typical breakfast club ones). I stopped doing them a while ago and don't miss them, but I have no regrets about doing them for the 2-3 years I did.
    - get a nice but simple website. Try and make it stand out a bit. Ie don't just say "we do accounts and tax returns". I appreciate this is easier said than done.
    - meet up with local bookkeepers. They'll (obviously!) do bookkeeping, but often overlap into payroll, VAT, and sometimes personal tax returns. They'll rarely drift into statutory accounts production/CT returns. Therefore you could maybe stick with what you know and partner up with them.
    - you'll likely get a few posters on here telling you of course you shouldn't do it, and you don't have anywhere near enough appropriate experience. Ignore them(!) but do accept that you will be learning a lot in your first year, some things the hard way. (EDIT - I typed this before seeing lionofludesch's post!)

    Best of luck with it!

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    Richard Hattersley
    By Richard Hattersley
    19th Sep 2019 10:40

    Hi everyone. Richard here, your friendly neighbourhood moderator.

    Since the OP deleted their question, there is little point keeping the comments open. However, I have left the thread published due to some great advice from Maslins which I am sure anyone considering starting a practice would find incredibly useful.

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