Starting self employment while employed

[Nathan Gunn]

Has anyone done the above. I currently work for an accountants and would love to set up some self employed work on the side as extra income as I know a few people who would offer me the work.

I suppose the long term goal would be to permanently become self employed full time. Does anyone have any tips on managing time between jobs etc.

Also any recommendations on how to go about getting started?

 

[Harry Angstrom]

1. Have you got permission from your firm?
2. Do you have a practicing certificate?
3. Just do the jobs in your spare time.

If answers to 1 and 2 are positive, just get on with it. If either them are no then look into it further.

 

[Kevj]

Isn’t this sort of advice you’d normally go to an accountant for?

 

[Harry Angstrom]

Isn’t this sort of advice you’d normally go to an accountant for?

Yes.

 

[Ben Gardner]

Has anyone done the above. I currently work for an accountants and would love to set up some self employed work on the side as extra income as I know a few people who would offer me the work.

I suppose the long term goal would be to permanently become self employed full time. Does anyone have any tips on managing time between jobs etc.

Also any recommendations on how to go about getting started?

I'm doing this very thing, now.

Giving up a very well-paid job in B2B sales for a self-employed role in an industry that I loved but left 6 years ago.
I've always been employed, so this is quite a leap. For me, I just wanted to make sure it wasn't a leap into the unknown.
After all, I'm 50 and can't afford to make any more fuck-ups in my life!

I'd suggest making sure you take advice from a decent account that comes recommended, do your homework on that industry in your territory, and try and get a back-stop of some sort for that period whilst you're generating your pipeline. Best of luck, fella.

 

[chunkyshanhawk53]

Accountant eh? Looks like all those attendance prediction threads weren’t in vain

 

[girojim]

Isn’t this sort of advice you’d normally go to an accountant for?

aye exactly this

 

[chunkyshanhawk53]

Isn’t this sort of advice you’d normally go to an accountant for?

 

[Mainze]

@blondfella

 

[nyron4england]

cash in hand, do not declare.

 

[Bob Fleming]

Do you have a business card and do you find it helps you get the clunge? I heard it's amazing what it can do for an accountant.

 

[Nathan Gunn]

Accountant eh? Looks like all those attendance prediction threads weren’t in vain

I've said so many times before they weren't me doing them. It was my brother who used to do them under the username DGunn but deleted his account to share mine. Those threads were always him He doesn't post anymore and now I'm left the attendance reputation!

 

[chunkyshanhawk53]

Do you have a business card and do you find it helps you get the clunge? I heard it's amazing what it can do for an accountant.

hope he has a car that he can shout at lasses from

 

[TheWanderer]

Has anyone done the above. I currently work for an accountants and would love to set up some self employed work on the side as extra income as I know a few people who would offer me the work.

I suppose the long term goal would be to permanently become self employed full time. Does anyone have any tips on managing time between jobs etc.

Also any recommendations on how to go about getting started?

Are you that good an accountant if you need to earn extra money? The ones I know, due to their knowledge of finance seem to have made very good lives for themselves with one income, and their investments and loopholes.

My advice to you is simple, work to live, not live to work....do not take on too much and neglect yourself and family. Money isn’t everything, try and be happy in your 9-5.

 

[nyron4england]

are you an actual accountant, or a technician?

 

[THELORDRODWELL]

Works for not as an accountant

Not as much photocopying needed in these digital times iirc

 

[Joe Public]

I've said so many times before they weren't me doing them. It was my brother who used to do them under the username DGunn but deleted his account to share mine. Those threads were always him He doesn't post anymore and now I'm left the attendance reputation!

How many we sold so far for boxing day?

 

[Hair Flick]

1. Have you got permission from your firm?
2. Do you have a practicing certificate?
3. Just do the jobs in your spare time.

If answers to 1 and 2 are positive, just get on with it. If either them are no then look into it further.

I'd add to the list:-

• do you have Professional Indemnity Insurance?
• are any of the clients already customers of your current employer?

 

[Harry Angstrom]

I'd add to the list:-

• do you have Professional Indemnity Insurance?
• are any of the clients already customers of your current employer?

good points

 

[Mickdundee]

1. Have you got permission from your firm?
2. Do you have a practicing certificate?
3. Just do the jobs in your spare time.

If answers to 1 and 2 are positive, just get on with it. If either them are no then look into it further.

Nail. Hit. Head

From my experience of working in accountancy practice, I assume the answer to 1 and 2 is no. It’s generally only the partners or anyone else (associates potentially) that would be responsible for signing off audits that would have practicing certificates. If the OP was in that position he wouldn’t be wanting to leave.

If you don’t have a practicing certificate then you’ll be stuck bookkeeping or helping with basic tax returns as I know ICAS (my professional body) restrict work you can take on without a practicing certificate to £50 a time and if they thought you were practicing without a certificate you could get investigated and sanctioned.

I'd add to the list:-

• do you have Professional Indemnity Insurance?
• are any of the clients already customers of your current employer?

Top one goes hand in hand with the practicing certificate - one of the conditions of having one is that you need to have insurance.