I am a qualified accountant with 10+years experience in practice and industry, thinking of starting up on my own after an extended period of time off following maternity leave.
My plan is to offer basic services such a bookkeeping, VAT and tax returns and possibly payroll. In my area, most clients would be small businesses; sole traders and small limited companies.
I have done a significant amount of research into what my institute requires for me to be in practice as a sole practioner, there seems like there is quite a large amount of compliance and admin to do to meet the institute requirements, which I am ok with.
My question is really whether other people who have done similar things have been able to make it work financially and how much time the compliance and admin has taken.