Becoming CTA

stefanboro

I need some advice.

I am currently 24 - have a business degree and obviously fully qualified with AAT.

I am part-qualified with ACCA but frankly due to the fact that I will never get a practicing certificate (and much of what you study is not applicable to practice) I am going to give this up (sadly!!).

Therefore, I want to study ATT and then CTA.

My only question is: What are the requirements to get a practicing certificate with the CIOT?

Having looked on their website it's not entirely clear. Also, if the requirements are much the same of the ACCA are you at least allowed to refer to yourself as a CTA on business cards etc so long as you don't advertise your company as "chartered tax advisors"?

Many thanks for any comments.

deanshepherd

As things currently stand, the 'MIP' scheme for ATT is voluntary and there is no formal scheme in place for CTA. Once you have the qualification you are allowed to use the letters and there is absolutely no restriction on your practising, provided that you adhere to the rules (i.e. have PI insurance, conduct CPD etc.). Once a member you can immediately use the term Chartered Tax Adviser on your business cards.

The CIOT are in the process of putting a scheme together because they do not currently conduct any monitoring of MIPs at the moment (unless of course they are registered with them for money laundering) but in the short term this will purely be a registration process (they currently have no idea how many CTA members are actually practising).

In years to come there may be a more formal monitoring process but this will only be if pressure is mounted from an outside agency (e.g. HMRC restricting services only to 'qualified advisers' as part of their forthcoming tiered agent services.

CIOT are very keen to keep a light touch approach and not place any unnecessary burden on their members so my advice would be to go for it.

stefanboro

deanshepherd wrote: »

As things currently stand, the 'MIP' scheme for ATT is voluntary and there is no formal scheme in place for CTA. Once you have the qualification you are allowed to use the letters and there is absolutely no restriction on your practising, provided that you adhere to the rules (i.e. have PI insurance, conduct CPD etc.). Once a member you can immediately use the term Chartered Tax Adviser on your business cards.

The CIOT are in the process of putting a scheme together because they do not currently conduct any monitoring of MIPs at the moment (unless of course they are registered with them for money laundering) but in the short term this will purely be a registration process (they currently have no idea how many CTA members are actually practising).

In years to come there may be a more formal monitoring process but this will only be if pressure is mounted from an outside agency (e.g. HMRC restricting services only to 'qualified advisers' as part of their forthcoming tiered agent services.

CIOT are very keen to keep a light touch approach and not place any unnecessary burden on their members so my advice would be to go for it.

That explains my confusion then!

Thanks for the helpful response Dean

Newbie

I have just registered as a student with the ATT, actually looking forward to studying again!