Frequently asked questions about the AAT member in practice scheme
What does ‘member in practice' mean?
Why does the AAT operate this scheme?
I'm an AAT student. Can I become a member in practice?
What are my obligations as a member in practice?
How will being a member in practice help me in the marketplace?
What does ‘member in practice' mean?
If you are a full or fellow AAT member and you are offering accountancy, taxation or related consultancy services to the public in the UK or Channel Islands, you must become an AAT member in practice.
You might be:
- a sole trader
- a partner in a practice or a limited liability partnership
- a director or a shareholder in a limited company
- working part-time on a self-employed basis while working for another employer
As a licensed member, you will need to abide by the AAT member in practice regulations and supporting guidance.
Why does the AAT operate this scheme?
If you are working for yourself, it's vital that your clients have the utmost confidence in you and the services you offer.
Our member in practice scheme enables us to:
- regulate all full and fellow members who are in practice
- provide tailored support to members in practice
- demonstrate to the public and accounting industry that you are competent, highly trained, and committed to high standards of ethics and professionalism.
I'm an AAT student. Can I become a member in practice?
While you are studying for your AAT qualification, you can set up in practice.
However, certain restrictions apply until you become a full member:
- you can set up in practice but cannot advertise in connection with the AAT
- you must only undertake work within your competence and seek professional advice where necessary
- you must abide by the AAT's Guidelines on Professional Ethics
- you are strongly recommended to have professional indemnity insurance
What are my obligations as a member in practice?
You must abide by the AAT MIP guideline and regulations. In summary, these are:
- only undertake work you are approved to offer
- abide by the AAT Guidelines on Professional Ethics
- maintain your professional indemnity insurance at the correct level
- have professional cover
- take steps to review your professional development needs under the AAT's current CPD policy
- renew your licence and pay your member in practice fee annually
Download the AAT member in practice regulations and supporting guidance
How will being a member in practice help me in the marketplace?
Your licence demonstrates to the public that you are competent, highly trained and committed to high standard of ethics and professionalism
Once approved, you can use the AAT logo on your business stationery
Banks and building societies recognise AAT members in practice for preparing accounts for client mortgage applications
You can be included in our online directory to promote your business
You have access to discounted advertising with Thomson and Yellow Pages
Do you have a question that isn't answered here? Contact us - we're here to help.