Hi Paul,

Welcome to the forum.

The course that your doing will not really prepare you for self employment.

The ABC AAT bookkeeping is the equivalent of AAT Foundation and will give you exemption from the papers at that level if you chose to take the AAT route (Which I personally would advise if you want a second string to your bow).

The course will not give you a practicing certificate. It's only meant as an introduction to the AAT qualification. However! It will give you exemptions from ICB and IAB exams. (not sure which ones or how many off hand although if nobody else fills in the gaps I'll have a firk around later).

You will not be allowed to act as a self employed bookkeeper unless you are cleared for Money laundering. This can be gained either by gaining a practicing certificate from your supervisory body or directly from HMRC at a cost of around £120.

If you trade as a bookkeeper without MLR cover you face two years imprisonment and an unlimited fine.

although not compulsory like MLR you will also need Professional Indemnity Insurance for which you need to prove a level of competence by exam or two years plus experience.

Note however that although not compulsory per se, no supervisory body will cover you for MLR without PII.

It sounds as though you have a ready made market to service so that's an excellent start.

Be aware that this is quite a crowded market place and the rates are unlikely to be anything like what the training providers have told you that they will be.

But, again. As you already seem to have clients lined up for self assessment you may be able to get away with charging higher prices than you would otherwise get away with in a competitive situation.

Good luck with the course and hope that it all pans out for you,

kind regards,

Shaun.

-- Edited by Shamus on Tuesday 6th of April 2010 06:57:23 PM