Setting up as a self employed bookkeeper - confused!

(7 Posts)
Mumelie Sun 03-May-15 12:49:24

Hi - hope someone can help me?
I've worked in accounts for 20 years - passing my AAT to Technician level about 15 years ago. Mostly I've worked part time for very small companies where I have been the sole accounts person.
I'm looking to set up as a self employed bookkeeper (to fit round family life) and have found out I need a MIP license from the AAT to work.
I've been unaware of this until now - my qualifications are old and I have no account reference to use having only worked for people with no accounts background. Can anyone point me in the right direction? Would it be worth taking the last year of AAT again (to help gain this license and as a refresher)? I'm able and willing to take this option.
Or have I got it totally wrong? Everything I read seems to contradict the last thing - HELP!

OP’s posts: |
mseledwards Sun 03-May-15 19:16:09

Hiya smile
Was it the AAT who told you you'd need an MIP license? I'm not a bookkeeper so I don't know the answer but if I were in your position and given that you passed your exams, albeit some time ago, AAT would be my first point of contact.

Love El x

Mumelie Sun 03-May-15 22:07:52

Thanks El. I have emailed AAT to see if they can help but no response as yet. Just wondered if anyone knew if they'd done it recently . Really wanting to hand in my notice at work ASAP and get going on it wink
M x

OP’s posts: |
lalalonglegs Sun 03-May-15 22:30:45

I don't know about the MIP licence - I do a very small amount of freelance bookkeeping and haven't got one, no one has ever asked or cared. My friend who is more of a full-timer has joined the Institute of Bookkeepers which gives her extra letters after her names and various other benefits - might it be worth looking into? I'm pretty sure she doesn't have a licence either <balks at the thought of all these feral bookkeepers on the loose>

Mumelie Sun 03-May-15 23:28:15

Thanks lala. The ICB say the same about a license ;
'Since 2007, any person offering a bookkeeping, accounting or payroll adminstration service must have a valid licence issued by an HM Treasury appointed supervisor, such as ICB.'

As I have AAT already I'll stick with them. I've been a bookkeeper for friends and family before - this is totally new to me and had no idea about it. I'm sure many bookkeepers in practise also don't know - which makes me wonder if there are other ways round it?

OP’s posts: |
TalkinPeace Sun 10-May-15 20:29:12

if the AAT do not give you a practicing cert you cannot use their letters after your name

and you'll need MLR
and PII

trilbydoll Sun 10-May-15 20:34:16

I think if you're a member of the AAT they insist on you having the MIP licence - the way they used to do it is you told them your experience and they wrote back to say you could offer xyz services.

The way round it would be to leave the AAT but I'm not sure where that leaves you regarding PI insurance, and I wouldn't do anything without that in place!

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