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First of all, asking a question anonymously gets everyone's back up and rightly so. Secondly, you need to be qualified to give this kind of advice to companies as pointed out by Bernard Michael you can't just wing it.
It would be wrong to proceed just because you can't find a job to gain experience in. That's like a heart surgeon operating on a patient without having the experience.
Others have also found it difficult to gain experience, but you must keep trying.
Just taking a few exams does not qualify you to give advice to people. You would be surprised how complicated tax matters can be. You need practical experience whilst working for someone else before giving advice to others.
You don't appear to know very much about tax. I am sure you would be very upset if you found out after you'd given advice that it was wrong.
Why do you think personal tax is so simple?
Have you not got to the bit in your studies where its gets really involved?
I appreciate there is the point when you know so little you don't know how complex it is, but one of the main skills of a small practitioner is to know what they don't know. If you dont even know what you dont know then you are going to be in a spot of bother from day one. I have a long list of things I don't know much about despite doing this for 15+ years.
I appreciate there is the point when you know so little you don't know how complex it is....
That was the point I was trying (badly!) to make. You can't say I will "advise" up to point B when you have no idea where Point B is in the scheme of things.
Indeed, the last thing i want is getting anyone into troubles due to my lack of experience. That is why i said i want to keep it simple, is not business tax related, Vat or other such stuff. Like i said,its more about individuals tax issues and personal circumstances. If i am not 100% of something i am doing or saying, i do not take risks, or risks some elses safety or get them into trouble. Thank you
The problem is the unknown unknown. If you have, basically, zero knowledge, you are not in a position to know what you can and can't advise on competently.
If you have a law degree, why not set up as a legal adviser? (Or is that area of business properly regulated?)
We can try and sugar the pill but it's a complete non-starter of an idea and you expose yourself to costly legal action when you make errors. (I can't see how you could get Professional Indemnity Insurance but I may be wrong.)
So may I just summarise for you? Everyone that's replied to you on here has been in business as accountants and on this forum for many years. We all personally know the problems even a seeming simple tax return can throw up if you don't have lots of tax knowledge and experience.
We would honestly give you lots of encouragement if it wasn't clear that you don't have enough knowledge and experience. You were asking us for advice and we've given it to you. Why is it that you think we don't know what we're talking about? Or are you unable to accept that occasionally you're wrong because you don't know all the facts.
I'm sad to say because it doesn't suit you I suspect you will continue with this idea and will face some problems ahead that could cost you a lot to resolve. Part of being a professional is accepting advice that something you thought was OK is not, and moving on.
Please,just for your sake, and not ours, take our advice.
Actually, I quite like the idea of a 'professional' acting as a go-between for someone whose English is not very good.
I have a client whose English is very poor. While I am quite sure they want to abide by the regulations, communicating them is not easy.
It sounds to me as though most of the work you undertake would be administrative and not technical. I think you just need to be careful that you don't end up giving tax advice on subjects you know little about.
To overcome that you should build a network of experts to whom you can refer your clients.
Actually, I quite like the idea of a 'professional' acting as a go-between for someone whose English is not very good.
Agreed, more than happy with that idea although OP referred to being "a sole practitioner in matters relatinf to self-assessment, simple PAYE queries".
"explain tax code, help writing an HMRC letter, or filling a form; help with changing an address or phone number"
I support the above, which doesn't require the OP to set up of an accountancy practice.
"explain tax code, help writing an HMRC letter, or filling a form; help with changing an address or phone number"
I support the above, which doesn't require the OP to set up of an accountancy practice.
Maybe not but it does depend entirely whether the offer is translation and 'understanding what the words mean" services vs your tax code is right/wrong, I'll help you write a letter to HMRC and suggest what you might want including in your NOC.
The OP might be advised to have a look here:
https://www.gov.uk/guidance/money-laundering-regulations-accountancy-ser...
'help with completing and submitting tax returns' covers a multitude of sins in the context discussed, for example.
I think I am going to open up a medical practice. Just for sprains and bruises and the occasional headache. If anything more complicated comes along I'll just send them off to A&E, but for the simple stuff it should be fine. Most people who go to the doctor just need a bit of advice really. I'm definitely not going to inject anybody, unless it's something very trivial.
Are there any legal regulations I should be aware of before I start?
It always amuses me when the protectionists voice their concern they tend to use the 'doctor analogy' - as in, 'Would you seriously let an unqualified doctor amputate your leg?'
Just maybe much of the humdrum stuff that accountants and tax advisors do isn't really quite as vital as they think it is.
Just maybe much of the humdrum stuff that accountants and tax advisors do isn't really quite as vital as they think it is.
It's a moot point though, of course, unlikely to be 'vital'. The point is, you want (well I would want) an accountant who is sufficiently competent to do what they can do but who can also recognise where there is an issue that they didn't necessarily know chapter and verse on but can either (a) research or (b) refer on. As we know, anyone can set themselves up as an accountant but that doesn't mean they should.
The doctor analogy is a bit extreme but it's fair to assume you wouldn't want your GP doing brain surgery on you. You are either qualified (exams and/or experience) to provide a particular service competently or you aren't. If you aren't, it's doing no-one any favours to 'have a go'. Back to the OP's original question, I can personally see a significant danger of mission creep in setting out to offer a very limited service 'related to' tax.
The doctor analogy is a bit extreme.
Yes. If I want someone to mow my lawn I don't insist they have a degree in horticulture.
Quote:
The doctor analogy is a bit extreme.
Yes. If I want someone to mow my lawn I don't insist they have a degree in horticulture.
But you want them to know how to use a lawnmower. Then you’ll ask them to do some weeding and expect them to know the difference between a weed and a flower.
Then you’ll ask them to do some weeding and expect them to know the difference between a weed and a flower.
Or, if they don't know, be able to put me in touch with someone who does. Which brings me back to my earlier advice to the OP.
I think there must be an opening for the services you want to offer. The others have already comprehensively advised on staying away from completing tax returns.
Could you contact the CAB or Tax Aid or the local council to see if there are any jobs/freelance work you could do from home?
I assume a working knowledge of benefit forms such as the universal credit, child benefit, housing benefit would be handy. I don't know if the end customer would have ready cash to pay for a service of just changing their address with HMRC. The admin services you are offering are quite niche unless you got another organisation involved which required your services. Maybe make some calls and see how you get on.
"I want to give simple advice such as self assessment tax return."
As others have said/implied, that's a really sweeping assumption. Yes - some tax returns are simple - if there's just a P60 and a bit of bank interest , that's pretty straightforward, even if you do end up calculating the tax yourself. However, one of the most complex technical issues I've dealt with involved what number should go on a tax return. (I won't bore you with the details.) I'm seen as giving tax advice rather than dealing with tax compliance - but I do get cross when non-tax colleagues look down on tax compliance as if it's all about filling in forms and ticking boxes. Much of it requires a great deal of technical knowledge and experience.
I think what you're saying you want to do is act as what might be described as a "taxpayers' friend" (a bit like a litigation friend). I think as long as you're clear about what you're doing and what your qualifications/experience are, that's laudable.