I'm currently a big 4 audit manager (c. 3-4 years post qualified), earn good money, but am very sick of the auditor grind and am looking at moving towards being a self practicioner.
Although I'm comfortable doing audits on FTSE100 companies and have strong knowledge of FRS and IFRS, I've literally never filled in a self-assessment form / created a set of accounts from scratch (yes I know this is laughable). I am a CA so of course do have some tax knowledge, and am very comfortable around a set of accounts. My friends from smaller firms tell me its really easy, but I just wondered whether anyone on here has made a similar jump from Corporate accounting to self-practicioner or even to a small local firm. Really appreciate any advice or perspective, but specifically:
-What would be the best way to get up to speed on the logistics/normal end to end process for a client? i.e. onboarding, and the information required etc.
-Is it worth doing an extra tax qualification (e.g. CTA)? Or better to just brush up on relevant tax specifics as they come up?
-I don't expect to be able to fully replace my current income as a sole practicioner (c £50-60k outside london), but is it achievable to be able to get to this level after a number of years having built a strong client base?
Am I crazy for even considering this as an option? It's not a move I have really seen any collegues in Big 4 accounting make. Really appreciate any perspectives on this. I would also consider paying for a mentoring service from someone who has been in the game for a long time (if such a thing exists).