Accounts 'on the side'

santino

Had a quick search, couldn't find a similar thread, apologies if there is one already.

I'm an accountant, just qualified a year.
Met a friend of a friend this evening (a painter) who asked if I would do accounts for him.

My question is: Can I legally/ethically do this? I am working in an accountants office but some work on the side would be welcomed...

Might seem like a silly question but I've nobody to ask and while I haven't done any research on it, I find advice usually pretty good on here.

Thanks

Clanno

santino wrote: »

Had a quick search, couldn't find a similar thread, apologies if there is one already.

I'm an accountant, just qualified a year.
Met a friend of a friend this evening (a painter) who asked if I would do accounts for him.

My question is: Can I legally/ethically do this? I am working in an accountants office but some work on the side would be welcomed...

Might seem like a silly question but I've nobody to ask and while I haven't done any research on it, I find advice usually pretty good on here.

Thanks

pm sent

J.Ryan

santino wrote: »

Had a quick search, couldn't find a similar thread, apologies if there is one already.

I'm an accountant, just qualified a year.
Met a friend of a friend this evening (a painter) who asked if I would do accounts for him.

My question is: Can I legally/ethically do this? I am working in an accountants office but some work on the side would be welcomed...

Might seem like a silly question but I've nobody to ask and while I haven't done any research on it, I find advice usually pretty good on here.

Thanks

Short answer is no, unless you have a self employed practicing certificate from your insititute, you may be able to do book-keeping work, but third party reporting would be a no no (this would include Revenue (form 11's) and Banks (submitting accounts for an overdraft renewal)).

A possible solution would be to talk to your employer, you may be able to get an additional salary for working on this file out of normal hours (asking for a commission would also be unethical).

santino

Thanks J Ryan.

That's what I thought.
Is it easy to obtain a prac. cert do you know?

It's like a dream to me that you need to do a course and an exam to actually get it...

smcgiff

It depends on your institute - rules differ.

What's in common (I think) is that you need three years experience, of which two years must be post qualified.

You then need to provide insurance and nominate another practice that could take on your work if anything happened to you.

I think most, if not all, bodies have gotten rid of the extra exam. There's usually a course to go through though.

The final audit exam must be one of your options (if applicable).

So, you've a minimum of one more year at least. Probably more if you're ACCA, as all three years need to be with an approved practice.

dbran

Hi

Try and do some deal with your current boss And if you do decide to go out on your own later that you are free to take the client with you.

Regards

dbran