An AAT Licensed Accountant are regulated and qualified to provide up to 18 accountancy services on a self-employed basis. They can perform the same accounting tasks as a chartered accountant.
To become an AAT Licensed Accountant, you must study and pass the relevant AAT Accounting Qualifications. You then need to have a membership of another professional accounting body.
An AAT Licensed Accountant full member is a qualified accountant who has demonstrated the required skills, therefore being able to use the designatory letters MAAT after their name. They are also able to run their own practice as an AAT Licensed Accountant or Bookkeeper.
Limited Company Accountants
Although not required by law, there are many reasons why business owners choose to use a Limited Company Accountants rather than preparing and maintaining their accounts themselves.
Some tasks that accountants take care of are:
- Registering the company with all the relevant tax departments – VAT, Corporation Tax, PAYE, etc
- Setting up and running company payroll
- Dealing with company-related legal correspondence (Companies House, HMRC)
- Tax planning advice.
- Dividend administration
- Providing professional references
Limited Company Accountants understand the legalities of the required information companies must submit and are far more equipped to deal with tax queries and the preparation of year-end accounts. They can save you time and money, leaving you to focus on running your own business without worrying about the numbers.