bookkeeper & year end accounts

[dlbarker]

i work as a bookkeeper for a ltd company, but don't do the year end accounts, but this morning i was asked by a friend, if i could do their end of year accounts for a small company that has just started trading.

i have all my bookkeeping qualifications, and would love to do the job , but is there any reason why i would not be able to.

Please could someone help ASAP.

 

[jholden]

Only 2 reasons I can think of, if they require an audit or if you are not capable, otherwise there is no restriction on you, unless your bookkeeping institute prevent it?

Jason

 

[elaine@cheapaccounting]

No legal reason you can't do the accounts and CT return. As long as you are registered for money laundering with HMRC or our Institute.

You might also want to think about professional indemnity insurance.

 

[Alison Jones]

HI

I would check with the institute. I am with ICB and they state that you can only take on work at the level of qualification you have reached.

Alison

 

[Deleted member 3454]

HI

I would check with the institute. I am with ICB and they state that you can only take on work at the level of qualification you have reached.

Alison

ICB also require you to hold professional indemnity insurance, which can be arranged through a link on their website.

 

[dlbarker]

My friends company is a Ltd company, so from the research i have done to day i don't have all the qualifications need to do thier year end at the moment. please could some one confirm this is right, I am with the ICB, and hold level 1 & 2 in manual and computerised book-keeping.

Also what sort of price should i be looking to pay for professional indemnity insurance.

Thanks

 

[elaine@cheapaccounting]

PII will normally depend on your level of fees. For IACEW there is a certain level you have to have as well. I assume ICB will specify this for you.

 

[DFL]

If you do do them I would be happy to have a look at them before they go back just to make sure all is in order.

 

[Alison Jones]

My friends company is a Ltd company, so from the research i have done to day i don't have all the qualifications need to do thier year end at the moment. please could some one confirm this is right, I am with the ICB, and hold level 1 & 2 in manual and computerised book-keeping.

Also what sort of price should i be looking to pay for professional indemnity insurance.

Thanks

HI

There is a chance you would need to have level 3 manual to be allowed to do Limited Accounts year end, but this is only if you want to be registered for Money Laundering through the Institute, and to be registered with the Institute you have to buy practising certificate and Professional Indemnity insurance which through the institute is reasonable there is link on the website which allows you to get a quote based on your annual income through self employment. So the higher the income the higher the insurance which is fair system I think.

Alison