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Can i become self employed with only experience?

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So ive worked in a firm now for 1 year, doing tax returns, bookkeeping, accounts.etc. Im on a very low wage and would like to do some work myself (on the side) to gain a bit of extra cash. I dont have any proper qualifacations however I think I have enough experience as I do work independently all the time. I dont want this to have any envolvement with my current job. I would only be open to posting things onto sage (bookkeeping), no tax returns or anything, as i dont feel confident enough doing those independently yet. Do people pay for things like this? Im not expecting a lot just a bit of extra pocket money. Also, where is the best place to advertise this?

 

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By paul.benny
05th Aug 2019 11:15

Your employment contract is likely to say something about doing other work alongside your present job. To be specific, it's likely to say that you should *not* be doing other work alongside your present job. Especially if this work competes with your employer.

You say you're on low wage. Are you being paid at least minimum wage? Check rates on the gov.uk website.

Basic bookkeeping - especially if it doesn't even involve tax returns, is never going to pay well. Have you considered working towards a qualification? Your employer might even fund you to study AAT (accounting technician).

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By JDBENJAMIN
05th Aug 2019 11:57

At your level of experience, you will all the time run into situations where you don't know the answers to questions that constantly arise. I advise not even thinking about self-employment until you have at least three years experience and some proper qualification, such as AAT.

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Caroline
By accountantccole
05th Aug 2019 12:58

Sigh.
Yes, subject to contract, you can probably set up as a bookkeeper.
I can make a mean toad in the hole but that doesn't necessarily mean I am ready to set up a restaurant.
There will be a market for your services, but based on the grammar/spelling/quality control in your question, you won't be getting high end work and are likely to be working on fee sensitive clients that the rest of us don't want. Look at how much PI insurance costs as a start.
Ask for a payrise, look at taking qualifications and get more experience. See if you can help with marketing and get to know your local market better. Look at getting yourself trained up with other software too. I wouldn't rush it at this stage.

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By Ken Howard
06th Aug 2019 10:56

Personally, I think a year is way too little experience.

Most businesses want a book-keeper who can do more than simple data entry. They want someone who can do their payroll and VAT returns as a minimum. If they don't have staff and aren't VAT registered, they're probably too small to need someone to do data entry. Those in the building industry want someone who'll deal with CIS for them.

With more and more automation/integration such as live bank feeds, integrations with other apps, etc., there's a declining market for basic data entry.

I'd suggest you train for a professional qualification such as AAT to give you a broader knowledge base. If your current employer won't support you, then find a job with another firm who will. Lots of accounting practices want trainees/juniors, especially with a year or so of experience, so just move firms and work your way up.

It was over 15 years before I took the plunge to start my own practice, after having worked in both practice and industry, for 5 different employers. Even after all that, I still wasn't fully confident and came upon numerous challenges that I had to face alone.

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By Ken Howard
06th Aug 2019 10:56

Personally, I think a year is way too little experience.

Most businesses want a book-keeper who can do more than simple data entry. They want someone who can do their payroll and VAT returns as a minimum. If they don't have staff and aren't VAT registered, they're probably too small to need someone to do data entry. Those in the building industry want someone who'll deal with CIS for them.

With more and more automation/integration such as live bank feeds, integrations with other apps, etc., there's a declining market for basic data entry.

I'd suggest you train for a professional qualification such as AAT to give you a broader knowledge base. If your current employer won't support you, then find a job with another firm who will. Lots of accounting practices want trainees/juniors, especially with a year or so of experience, so just move firms and work your way up.

It was over 15 years before I took the plunge to start my own practice, after having worked in both practice and industry, for 5 different employers. Even after all that, I still wasn't fully confident and came upon numerous challenges that I had to face alone.

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