Mip's - advice sought

Pigpen
Pigpen Registered Posts: 331 Dedicated contributor 🦉
in General accounting discussion
Hi All

I am nearly finished with my AAT - just DFS to sit in June. Hoorah!

I want to register and start practising as a MIP - Part time to start with - I have been in accounts roles for donkeys years and have done it all in my time. Just never had any qualifications to back up my expereince till now!

Anyway I am really interested in Tax - I wondered if any of you have gone on to do ATT or CITA as a way of bolstering your AAT studies and therefore allowing you to specialise in Tax, Vat or IHT ? I think people are still essentially scared of tax so might be a good way to go.

Be good to get some advice :thumbup1:

Comments

  • jilbo
    jilbo Registered Posts: 197 Dedicated contributor 🦉
    Hi Pigpen,

    Havn't really got any advice other than if you're really interested in tax then go for it. I have two exams to sit in June and then fingers crossed I'll be qualified also. I'm going on to do ATT myself and if all goes well will sit the first exam in November.

    BTW how's your favourite colleague :tongue_smilie:
  • deanshepherd
    deanshepherd Registered Posts: 1,809 Beyond epic contributor 🧙‍♂️
    I went on to do ATT and CTA and can highly recommend them both. ATT in particular is an excellent course and will stand you in very good stead for a multitude of tax scenarios that you will face in practice.
  • ademoore
    ademoore Registered Posts: 146 Dedicated contributor 🦉
    I'm currently finishing my finals for CIMA, but tbh, once completed I do have every intention to go to ATT as I don't have a strong enough grasp on the subject of tax as I would ideally like.:glare:
  • Pigpen
    Pigpen Registered Posts: 331 Dedicated contributor 🦉
    Wow thanks everyone - I just sat down and had a chat with my FA and he agreed that Tax is a good way to go

    Jilbo - I read on the ATT website this morning that if you want to sit exams in Nov you have to be registered by End April with them - Just in case you didn't already know - Maybe we can be study buddies !

    In answer to your other question - Nothing changes - Still a kn*b :lol:
  • jilbo
    jilbo Registered Posts: 197 Dedicated contributor 🦉
    Many thanks for the info Pigpen, I have already registered. I will be sitting paper 2, business tax and may even look at doing advanced business tax at the smae time not sure yet. Would love to be your study buddy, obviously depends on what papers you're planning to do and when.

    Your coleague sounds more like mine everyday! :lol:
  • Pigpen
    Pigpen Registered Posts: 331 Dedicated contributor 🦉
    Hi Jilbo

    I think I can get an exemption for business tax because I have passed it at AAT level - But I will do Asvanced Business tax, Pers tax, Vat and not sure abiut the last one - possibly Inheritance tax
  • Pigpen
    Pigpen Registered Posts: 331 Dedicated contributor 🦉
    You can tell its Friday - My spelling is apalling - Actually its my typing! :lol:
  • Sonny_L
    Sonny_L Registered Posts: 201 Dedicated contributor 🦉
    Paper 7 ethics is a core paper, so compulsory.

    I've heard from one ATT member I know that VAT paper is evil, and should be avoided. This is only one person's opinion mind.
  • Pigpen
    Pigpen Registered Posts: 331 Dedicated contributor 🦉
    Really? Oh! I may have a look at a past paper before I finally decide then
  • jilbo
    jilbo Registered Posts: 197 Dedicated contributor 🦉
    Pigpen wrote: »
    Hi Jilbo

    I think I can get an exemption for business tax because I have passed it at AAT level - But I will do Asvanced Business tax, Pers tax, Vat and not sure abiut the last one - possibly Inheritance tax

    Hi Pigpen, I don't think you can get an exemption. I also did business tax at AAT and I'm sure I must have looked into this possibilty when deciding to do ATT, but then again maybe I didn't. :ohmy: I do hope so cos I've already paid for and received the business tax module from Tolleys, it is 5 ringbinders worth, and covers it in much more detail than AAT.
  • Pigpen
    Pigpen Registered Posts: 331 Dedicated contributor 🦉
    Oh Jilbo - THis is what it says in my prospectus I downloaded yesterday -

    An AAT full member who has passed the AAT unit 18 Preparing business taxation computations will be awarded , on application and payment of the fee , a credit for ATT paper 2 on Business Taxation and accounting principles - Documentary evidence must be provided - Fee £60 :crying:


    I think this means you don't have to do it - Doesn't it? :confused1:
  • jilbo
    jilbo Registered Posts: 197 Dedicated contributor 🦉
    :blushing: What a donkey!!! Have just phoned the ATT to double check and yes you're perfectly right although you can't apply for the exemption until you are a full AAT member. And just to add insult to injury the fee has gone up to £70! Oh well it's only money. Thanks pigpen, looks like I'll be sending for advanced business tax then,
  • Pigpen
    Pigpen Registered Posts: 331 Dedicated contributor 🦉
    Oh I am so sorry - Can you tell tolleys and maybe do an exchange?
  • jilbo
    jilbo Registered Posts: 197 Dedicated contributor 🦉
    Possibly, although I did take the shrink wrap off a couple of packs but we have a shrink wrapper at work so I could redo them. Well it's only money at the end of the day :crying:
  • jilbo
    jilbo Registered Posts: 197 Dedicated contributor 🦉
    Think I'll check the content tonight and if it differs greatly to the AAT module I could keep it for reference, although it will go out of date. I'll ring Tolleys and ask the question just in case.
  • Pigpen
    Pigpen Registered Posts: 331 Dedicated contributor 🦉
    Look on the positive side - At least you found out now before you started it :thumbup1:
  • jilbo
    jilbo Registered Posts: 197 Dedicated contributor 🦉
    Yep, thanks to you :biggrin:
  • Pigpen
    Pigpen Registered Posts: 331 Dedicated contributor 🦉
    Phew - I was feeling guilty but now I feel good! :lol::wink:

    Didn't Tolleys ask you for any questions like that before you enrolled?
  • jilbo
    jilbo Registered Posts: 197 Dedicated contributor 🦉
    No they didn't but that's my responsibilty not theirs.

    No need for you to feel guilty, actually have learnt a lot from my own stupid mistakes this week, there's hope for me yet :lol:
  • jilbo
    jilbo Registered Posts: 197 Dedicated contributor 🦉
    Got to the bottom of it! When i got home I checked my prospectus the ATT sent me last year. Printed Sept 2007.

    Downloaded new one off their site, printed Nov 2008. I registered in Oct 08

    No exemptions mentioned in Set 07 looks like it's only just come in as this is what's on Kaplan website

    " The credit will take effect from the May 2009 examination session and will be valid for three years from the first sitting of another ATT certificate paper. There are no other credits offered for ATT students."

    I was sure I'd looked to see if there were any exemptions, you'd have thought they'd have slipped in an addendum when they sent me the prospectus, the new was due to be printed within weeks so they were aware of the fact that the exemption was coming in. Never mind like you say Pigpen at least i hadn't wasted time doing the assisgnments.

    C'est la vie :001_rolleyes:
  • Monsoon
    Monsoon Registered Posts: 4,071 Beyond epic contributor 🧙‍♂️
    Grr, I wish I'd known about this! :001_unsure:

    Surprises me a little, as the ATT syllabus goes into more detail than AAT business tax, there were some bits in there I'd not learned before. Oh well, turns out it was worth it - I nearly didn't turn up to my ATT exam having done no study, and only did because a rather nice man invited me to lunch beforehand and he is now my boyfriend :thumbup: Ok so I would have met him anyway, but it's sort of justification for the exam in my mind :lol:

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