ACCA part qualified/ My plan and if it seems feasible?

[rdin]

Hi there,

I have been following this forum recently and found the forum extremely useful. I have a query about my qualification and the business I am trying to set up –

I am studying ACCA and have done my BSc degree in Applied accounting from Oxford Brookes University. I am not fully qualified ACCA and therefore I am unable to setup a public practice but my plan is to setup a business which provides bookkeeping service to small businesses

I am thinking of job title Accounting Clerk of SOC 3537 (NQF Level 4)

I am planning to be registered as self employed with HMRC and apply for T1 Ent end of September (Switch from PSW).

I already have spoken with couple of small businesses and will be able to secure 2 contracts very soon.

Given the above scenario, I would be grateful if experts out there could comment on my plan and if it seems feasible...

Also if there are any part qualified ACCA or CIMA who are also thinking of setting up businesses for T1 Ent please comment here so that we all go towards right direction..

Many thanks

[mkash]

Hi there,

I have been following this forum recently and found the forum extremely useful. I have a query about my qualification and the business I am trying to set up –

I am studying ACCA and have done my BSc degree in Applied accounting from Oxford Brookes University. I am not fully qualified ACCA and therefore I am unable to setup a public practice but my plan is to setup a business which provides bookkeeping service to small businesses

I am thinking of job title Accounting Clerk of SOC 3537 (NQF Level 4)

I am planning to be registered as self employed with HMRC and apply for T1 Ent end of September (Switch from PSW).

I already have spoken with couple of small businesses and will be able to secure 2 contracts very soon.

Given the above scenario, I would be grateful if experts out there could comment on my plan and if it seems feasible...

Also if there are any part qualified ACCA or CIMA who are also thinking of setting up businesses for T1 Ent please comment here so that we all go towards right direction..

Many thanks

Book keeping is NQF Level3 and not level4

[entrepreneur123]

it will be better if you open business providing complete accounting+bookkeeping services rather than only book keeping. Also you do not need to show part ACCA qualification to ukba. i think you should apply based only on your accounting degree, register with HMRC under MLR. choose job title from NQF 4 level code 3537.

Hi there,

I have been following this forum recently and found the forum extremely useful. I have a query about my qualification and the business I am trying to set up –

I am studying ACCA and have done my BSc degree in Applied accounting from Oxford Brookes University. I am not fully qualified ACCA and therefore I am unable to setup a public practice but my plan is to setup a business which provides bookkeeping service to small businesses

I am thinking of job title Accounting Clerk of SOC 3537 (NQF Level 4)

I am planning to be registered as self employed with HMRC and apply for T1 Ent end of September (Switch from PSW).

I already have spoken with couple of small businesses and will be able to secure 2 contracts very soon.

Given the above scenario, I would be grateful if experts out there could comment on my plan and if it seems feasible...

Also if there are any part qualified ACCA or CIMA who are also thinking of setting up businesses for T1 Ent please comment here so that we all go towards right direction..

Many thanks

[Christianoronaldo]

Here you go. A very precise and perfect answer by entrepreneur123. Just keep one thing in mind that HMRC MLR registration takes nearly 45 days. Your best job title could be Accounts Manager (Level 6) or Accounting Technician (Level 4).

it will be better if you open business providing complete accounting+bookkeeping services rather than only book keeping. Also you do not need to show part ACCA qualification to ukba. i think you should apply based only on your accounting degree, register with HMRC under MLR. choose job title from NQF 4 level code 3537.

Hi there,

I have been following this forum recently and found the forum extremely useful. I have a query about my qualification and the business I am trying to set up –

I am studying ACCA and have done my BSc degree in Applied accounting from Oxford Brookes University. I am not fully qualified ACCA and therefore I am unable to setup a public practice but my plan is to setup a business which provides bookkeeping service to small businesses

I am thinking of job title Accounting Clerk of SOC 3537 (NQF Level 4)

I am planning to be registered as self employed with HMRC and apply for T1 Ent end of September (Switch from PSW).

I already have spoken with couple of small businesses and will be able to secure 2 contracts very soon.

Given the above scenario, I would be grateful if experts out there could comment on my plan and if it seems feasible...

Also if there are any part qualified ACCA or CIMA who are also thinking of setting up businesses for T1 Ent please comment here so that we all go towards right direction..

Many thanks

[rdin]

i think you should apply based only on your accounting degree, register with HMRC under MLR. choose job title from NQF 4 level code 3537.

Thank you so much entrepreneur123 and Christianoronaldo for sharing some light

I was almost hopeless!

to register business under MLR what would be steps pls?

Shall I register my bsuiness with company's house first and then with HMRC MLR?

Also I would be grateful if you could provide any web link regards to the HMRC MLR?

Thanks in advance for your valuable comments

Regards

[entrepreneur123]

yes open company first then register

http://www.hmrc.gov.uk/agents/mlr/laundering.htm

i think you should apply based only on your accounting degree, register with HMRC under MLR. choose job title from NQF 4 level code 3537.

Thank you so much entrepreneur123 and Christianoronaldo for sharing some light

I was almost hopeless!

to register business under MLR what would be steps pls?

Shall I register my bsuiness with company's house first and then with HMRC MLR?

Also I would be grateful if you could provide any web link regards to the HMRC MLR?

Thanks in advance for your valuable comments

Regards

[rdin]

Many thanks Entreprenur 123 and Christianoronaldo for your suggestion

Just one more query please, is it possible to provide unaudited accounting services to small businesses (since I am part qualified, therfore unaudited), without registering with HMRC -MLR?

Or is HMRC MLR registration a must to provide full accounting service (beyond just bookkkeeping)
If you are unqualified?

Would appreciate your comments

Regards

[sunshine28]

I am a qualified accountant (AAT and ACCA member) and got MBA with University of Wales but no practicing certificate. I am registered with HMRC as an agent to provide VAT, Corporation tax and PAYE services and also got an professional Indemnity insurance. I want to apply for tier 1E next year but I don't know whether to apply under financial management SOC 1131 or chartered accountant SOC 2421 or business management SOC 2423. All are under NQF Level 6.
I want to make my title as Financial Accounting and Management specialist but which of the above SOC Codes should I choose? Can any one give advise regarding my situation please?

[rdin]

ACCA student or member without a practising certificate cannot provide full accounting service, according to acca without a PC, making FInancial Statements beyond trial balance is a breach of ACCA regulation.

[aravindarun]

Hi i am also a acca member,wants to apply for Entr Visa by the end of september.I spoke to acca,they said i need to have pracicing certificate to provide accountancy services.i even got letter from acca regarding what are all the services i can provide.It will be better if you have accountancy firms as clients as you dont need to have practicing certificate

[aravindarun]

how did you manage to get agent code with our having yourself a practicing certificate.if you could please let me know i will do the same

[kuzaaah]

Hi there,

I have been following this forum recently and found the forum extremely useful. I have a query about my qualification and the business I am trying to set up –

I am studying ACCA and have done my BSc degree in Applied accounting from Oxford Brookes University. I am not fully qualified ACCA and therefore I am unable to setup a public practice but my plan is to setup a business which provides bookkeeping service to small businesses

I am thinking of job title Accounting Clerk of SOC 3537 (NQF Level 4)

I am planning to be registered as self employed with HMRC and apply for T1 Ent end of September (Switch from PSW).

I already have spoken with couple of small businesses and will be able to secure 2 contracts very soon.

Given the above scenario, I would be grateful if experts out there could comment on my plan and if it seems feasible...

Also if there are any part qualified ACCA or CIMA who are also thinking of setting up businesses for T1 Ent please comment here so that we all go towards right direction..

Many thanks

Hi Rdin, I know this is an old post. Please I will like to know if you got your visa using the code for financial management since you were not a qualified accountant as at the time you applied?