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Bookkeeping isn't a regulated activity, is it?

As the title says, bookkeeping itself isn't regulated, is it?

I mean properly regulated by law, I don't mean what the accounting training providers call 'regulated', which might mean
"you've already paid us to teach you, now give us even more money now you're going into business and we'll essentially let you provide us with free advertising".

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18th Feb 2018 07:31

No

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18th Feb 2018 10:32

Depends what you mean. In the MLR 2017 an "external accountant" falls within the scope of the regulations. By reg 11(c) “external accountant” means a firm or sole practitioner who by way of business provides accountancy services to other persons, when providing such services.
So I would say that a self-employed bookkeeper is subject to MLR 2017 and - in that sense - is regulated.
But anyone can seek registration with HMRC under MLR 2017 & will only be refused if they have a criminal record of a relevant offence (such as tax fraud).
There is no requirement for any knowledge or skill before setting up as a bookkeeper or accountant or tax adviser.
David

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19th Feb 2018 14:10

Most certainly s/e bookkeepers are under MLR scope and required registration with HMRC. £100 per premise + £130 application fee.

http://www.bookkeepers.org.uk/Resources/MLR

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21st Feb 2018 13:12

Only those that are registered with a professional body, same as accountants, are regulated.

Everyone needs to be registered for ICO (with GDPR on the horizon) and MLR, either through their professional body or directly to HMRC.

But, unfortunately, anyone can call themselves bookkeeper, accountant, financial adviser etc

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21st Feb 2018 13:46

I hope things have changed but three years ago every bookeeper/desktop accountant I spoke with was not regulated for MLR or at least thats waht they told me!

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to pauljohnston
21st Feb 2018 18:05

I suppose a bookeeper is someone who never forgets an insult, but what is a desktop accountant?

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to Mr Trellis of N Wales
21st Feb 2018 18:11

It's like a desktop calculator, but with more functions!

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to pauljohnston
21st Feb 2018 18:17

pauljohnston wrote:

I hope things have changed but three years ago every bookeeper/desktop accountant I spoke with was not regulated for MLR or at least thats waht they told me!

That’s ‘cos we’re all regulated via our relevant CCAB body, so don’t really think about it as a separate thing.

Plus MLR don’t really matter, do they ... ?

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