Hi,
So I'm almost ready to begin my bookkeeping/accountancy practice after a lot of admin. Can someone explain to me the procedures for engaging a client as I am getting lost trying to find the answers on here, is it;
1) Find a client
2) Send a letter of engagement about fees/role also with a request to contact his previous accountant if you are taking over one.
3) If the work is supplementary to his existing Accountant, I still need to write to his Accountant explaining my role?
Is that correct? I read something to do with MLR as well that I need to do (proof of identity perhaps?). Also, where does the bit go asking him for permission to be his HMRC agent?
Can anyone share templates of what I need with me? £30 for an ACCA cd suddenly seems steep to me, my shoestring has just snapped!
To be honest, the amount of bureacracy involved for some part time income for me is scary!
Thanks in advance.
Matthew
Replies (7)
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More bureaucracy
Since you are a bit unsure about MLR, I presume you don't belong to a professional body.
Anybody that works as an external accountant or bookkeeper and isn't regulated by a professional body needs to register with HMRC for MLR and pay an annual fee of something like £100.
hmrc.gov.uk/mlr/
Work for client not including Stat accounts and tax
If you have a letter of engagement signed by the client, you certainly don't need to inform their tax accountant of your existence. Even if you want to contact them you can't do so unless authorised in advance by the client.
Your client will have to do this so that you can get data such as opening balances from them. However many of these accountants will probably ignore any emails from you even after being introduced, as they will be very jealous of you. Some of them will be nice and professional and willing to treat you as a human being. Just not many of them.