Thinking of retraining as a tax consultant/book keeper any advice?

(9 Posts)
zippyswife Mon 02-May-16 13:23:18

I need a career change and need flexibility/ to be able to work from home (3 young dcs). A friend suggested retraining to do people's tax returns and another suggested book keeping. I have a degree in an unrelated field. I was wondering what Qualifications I need to do this and is it a good career option?

IceMaiden73 Tue 03-May-16 08:19:21

It's not just the qualifications, you will need practical experience too

It is a good career and if you are going to do it properly then it is a lot of hard work

Realistically, getting qualifications and experience should take at least 5 years before you would even consider setting up on your own doing tax returns

Bookkeeping, again should take a few years, but would be slightly quicker

Qualifications depends on where you want to get to. AAT is good for bookkeeping, to offer tax advice you really want to be ACCA - you need to read up about the restrictions on offering services while you are training though, as you need a practicing certificate to be able to do this

DottyBee Sun 08-May-16 12:39:29

I am interested in doing this also Zippy.

My youngest starts school in September, so I would like to obtain an employed PT position. Potentially setting up on my own, one day.

I am just very confused as to whether to go IAB, ICB or AAT route in terms of qualifications.

I haven't looked at doing tax returns as yet, but may train in this later.

zippyswife Sun 08-May-16 12:52:49

Yes. I think when youngest is in preschool (he's only 3 months so a while off yet) I'l aim to get a part time position and start training. I've got theAAT prospectus here but haven't started looking at it yet!

Gotheftosleep Sun 08-May-16 14:09:50

I work in tax. I would strongly recommend that before you start a self-employed business doing tax returns, that you work in another tax firm to build up experience. If you get a tax return wrong you can cause all kinds of problems - you're exposed to penalties, loss of reputation and clients can sue you. It's a rewarding profession though, and very flexible once you're properly qualified and experienced.

Gotheftosleep Sun 08-May-16 14:10:24

Forgot to say, I did Association of Taxation Technicians and then Chartered Institute of Taxation exams.

DottyBee Sun 08-May-16 15:26:02

Go, your post covers the very reasons why, I am not thinking about tax returns at this stage. Potentially, this is something I could move into at a later date. Assuming I can get a position that would give me experience.

Gotheftosleep Mon 09-May-16 21:22:50

You should be able to find a training position Dotty there's usually quite a few out there. Good luck!

DottyBee Tue 10-May-16 22:37:31

Thanks go.

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