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Post Info TOPIC: FCCA thinking of going it alone


Veteran Member

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FCCA thinking of going it alone


Hi

I am ACCA qualified with 10 years post qualification experience in industry and one year in practice. I currently have a very good job but it isnt full time so I am thinking about setting up a bookkeeping business on my spare days.

i am thinking of doing this to fit around my children (single mum, young children!).

i am currently doing the bookkeeping for my friends pub but need to find someone to take it beyond TB as I do not have a practicing certificate.

Would I be right to think that I need to follow these steps:

Register for Money Laundering (or am I covered as a member of the ACCA)?

Take out professional indemnity insurance.

Find clients

Work to TB

Find a registered accountant to take it from me at TB stage and do the accounts and any tax returns?

I already have a workspace, laptop and software. Does it need to be more complicated than this?

Thanks for any feedback!



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Trisha



Master Book-keeper

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Strictly speaking I can't answer you, see http://forum.bookkeepers.network/t64947212/come-on-all-your-boring-folk-join-in-and-have-a-laugh/

wink

Before going any fun a couple of random Qs

- why does you profile say your name begins with an S, when it's a P? Yep, I know it's random, like I said, but it sort of fits, possibly, with the 3rd(all could be revealed later)

- are you being paid by your current friend client? I'm ignoring the ethical bit, but there is a reason to that Q as well.

- is your other post today an advert for your services as a subcontractor to the professionals on this site?

- have you filled in the call to action on the MTD post below this one.

- doesn't Accca absolutely ban you from ANY mention/reference to them in marketing if you do not have a full licence? (One for Shaun?)

Back later perhaps, baking cakes for McMillan coffee morning and oven will be pinging in a minute on the first batch. (No, boys, sorry no cakes spare, unless you make a hefty donation!)



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Joanne

Winner - Bookkeeper of the Year 2015, 2016 and 2017

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.



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Hi Joanne

I promise to grab a book before my next post, I am a bit too comfy on the sofa!

I have no idea why it says S, my name has never started with that! I will take a look at my profile in a bit.

Yes, my friend, or rather her husband, is paying me.

My other post was to see what is out there really, I have the time and just want to see what's what.

Just had a look at the MTD post, will try to take a proper look tomorrow.

Yes I do believe that ACCA do ban you and I have just realised that I should not have mentioned them in my other post, my bad.

Trisha

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Trisha



Guru

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Hi Trisha

You may also need to register with the ICO as you will be handling clients personal data



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Doug

These are only my opinions of how I see things and therefore should not be taken as advice



Master Book-keeper

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Purple wrote:

Hi Joanne

I promise to grab a book before my next post, I am a bit too comfy on the sofa!

I have no idea why it says S, my name has never started with that! I will take a look at my profile in a bit.

Yes, my friend, or rather her husband, is paying me.

My other post was to see what is out there really, I have the time and just want to see what's what.

Just had a look at the MTD post, will try to take a proper look tomorrow.

Yes I do believe that ACCA do ban you and I have just realised that I should not have mentioned them in my other post, my bad.

Trisha


Hi Trisha,

Sorry for the delay in responding.

RE your other post, you can edit it. Or failing that the moderator can. At least then you are not in breach of ACCA regs.

More worrying and needing to be dealt with as a matter of urgency is the fact that you have been acting without MLR cover.

That is in breach of ACCA which can result in their fines and expulsion, but worse is against the law and can result in a mahoosive fine and even prison time. So get yourself registered with HMRC. It takes a while!! Plenty on here about that.

re what Doug said, read up on GDPR and make sure you have a written policy And the appropriate wording is in your engagement letters.



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Joanne

Winner - Bookkeeper of the Year 2015, 2016 and 2017

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.



Veteran Member

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Hi

Thanks for the responses folks.

I should have been a bit clearer, when I say I am doing the bookkeeping for my friends pub I am not doing it on a self employed basis, I am on their payroll so officially an employee. Mainly because of the issues mentioned and the requirement to register for MLR, with HMRC and GDPR purposes.

I have amended my other post and taken the reference to ACCA out. I have decided to gain the required supervised experience in order to gain a practice certificate so am putting these plans on hold for now.

What I do need though is somebody to take the pub TB off my hands next year and produce the accounts for me. Also to pick up the tax element, basically all the bits that I am not allowed to do. Can anybody on here help me with that?

Trisha

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Trisha



Guru

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Date:

Hi Trisha

Only a suggestion, but can you not approach a local accountant to see if they will prepare the final accounts, that way they will see the work you have done with the books and maybe even be able to put some bookkeeping work your way



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Doug

These are only my opinions of how I see things and therefore should not be taken as advice



Veteran Member

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Hi Doug

That is my next plan if nothing comes of this post.

Thanks

Trisha

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Trisha



Master Book-keeper

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Purple wrote:

Hi Doug

That is my next plan if nothing comes of this post.

Thanks

Trisha


How near to Coventry are you? I know of a guy from there who specialises in pub accounts. If you want his number pm me.



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John

Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.



Master Book-keeper

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There was someone on here who used to be involved in pub accpunts quite heavily but for the life of me I cannot recall who it was.

Just to aid anyone pondering, alonsgide the usual pub and presumably food (and VAT), are there gaming machines, pool tables, amusement machines etc? Plus who does their stocktaking? Tied pub or not?



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Joanne

Winner - Bookkeeper of the Year 2015, 2016 and 2017

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.



Veteran Member

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Wet and dry sakes, vat registered, no gaming machines and independent stock taker

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Trisha



Master Book-keeper

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Cheshire wrote:

There was someone on here who used to be involved in pub accpunts quite heavily but for the life of me I cannot recall who it was.


It maybe the same person I'm thinking of, Energise Accounting? He was on here for a while but mainly frequents the ukbf accounts section.



__________________

John

Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.

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