Advice on what to do after Aat

michael1199

Hello everyone,

Just hoping someone can point me in the right direction.

I've worked at a company for 5 years just doing basic things like purchase ledger, sales ledger etc. I am currently on level 4, waiting on results for financial performance and budgeting.

I have just started doing business tax and find it very interesting, I was thinking a few months back this is what I would like to do in the future more tax side of things.

What course would you recommend after Aat to get into the tax side of things?

Also wondering if I should stick with the job I have at the moment as I don't feel like I'm gaining enough experience in certain areas but could I go into a job dealing with taxation if I haven't done any tax units?

Any advice would be much appreciated.

Thanks

Michael

omega man

The obvious place is ATT association of tax technicians,this is the quickest route as you only need 3 exams as you get an exemption from one.This is easier than ACCA and CIMA.You will also need 3 years experience in a tax job to join ATT after qualifying.
I have only manual experience and at 51 will probably go the ACCA route,i am trying to get a job back in this field again.I am also at a loss as to what route is best for me.

BeccaLouJ9

What makes you say ATT is easier than ACCA and CIMA?

They aren't the same thing so can't really be compared.

Michael I think ATT would be a good route if you enjoyed the tax units at AAT, and if that is what you want to be doing. I have just started ATT and will be taking my first exam in May. It's really interesting so far. ACCA may be better suited to you if you fancied going into practice, and CIMA broadly speaking would benefit you if you were to get into management accounts. But all three, and the many others, are all good qualifications.

B x

michael1199

Thankyou for both your replies.

Becca if you don't mind me asking do you work for a company that deals with tax?

I have not looked into this in great detail but I'm only about 8 months away till I finish AAT so thought I better start. Not sure where to look to be honest with regards to taxation jobs.

Michael

BeccaLouJ9

Well I work in a small accountancy practice, and our clients range from small subbies to big companies, so yes we deal with tax. Both personal and corporation. The tax units at AAT were really relevant to the work I do, but as I'm only a trainee accountant the stuff I'm learning with ATT- I don't have quite so much dealing with.. yet! But it is very good so far... I may not be saying that closer to the exam!!

Are you interested in working in practice? If so then I would ask around the local accountancy practices for junior positions etc.

Good luck

B x

michael1199

Well I just think if I work for a accounting practice then I will gain the necessary experience for the taxation area that I want to work in.

The thing is with my job, they pay for my studies, it's local but I don't feel like I'm gaining good experience as I'm still writing cheques etc and that's level 2 work. I am 25 and I've been on the same wages for 5 years which is less than 17k. I work in south east and thought I would be on more by now considering the level I'm on. I'm not driven by money but I would rather be somewhere gaining good experience.

I suppose there would be no harm in looking once I have completed the taxation units.

Are you thinking of doing other courses after ATT or is this more Than enough to secure a future in taxation?

Thanks

Michael

BeccaLouJ9

Personally I am going on to do ACCA afterwards. Our practice deals with everything including audit, so I need to do that too! I'm quite looking forward to it though. I haven't looked into the ACCA syllabus yet so I don't know for sure, but I don't think there is that much tax in it, I could be wrong.

Fortunately my work pay for my studies, and I hope that when I qualify I will get a payrise too! I'm on under £17K too.

I enjoy study alot, so it is only natural for me to go onto ACCA after this. Not for a while yet though, as I say I have only just started.

No harm looking for accountancy related jobs while you study. You may get lucky and find a job in a practice where they also supply a study package!

B xx

michael1199

Yes hopefully a nice payrise at the end :001_smile:

Think I will definitely look into doing ATT after this and decide what to do after that.

Going to update my CV also and pop them into accounting practices.

Thanks for all your input Becca and good luck for the future.

Michael

omega man

Beccalou-i only said it was easier because there is only 3 exams to take at ACCA you have 14 less the 3 exemptions so 11 in total.
So i think 3 v 11 is easier.

reader

michael1199 wrote: »

Well I just think if I work for a accounting practice then I will gain the necessary experience for the taxation area that I want to work in.

The thing is with my job, they pay for my studies, it's local but I don't feel like I'm gaining good experience as I'm still writing cheques etc and that's level 2 work. I am 25 and I've been on the same wages for 5 years which is less than 17k. I work in south east and thought I would be on more by now considering the level I'm on. I'm not driven by money but I would rather be somewhere gaining good experience.

I suppose there would be no harm in looking once I have completed the taxation units.

Are you thinking of doing other courses after ATT or is this more Than enough to secure a future in taxation?

Thanks

Michael

I currently work in an ACCA practice (dealing with tax and accounts for small businesses, i.e. turning over less than £6.5 million) and from my experience practices generally recruit ACCA studiers rather than ATT studiers. I think this is bizarre as in my experience the ATT qualification is much more relevant to a small practice than ACCA. Consequently, paradoxically, if you are interested in working in practice and tax I would suggest doing ACCA rather than ATT.

I'm doing ATT at the moment and part of me regrets this as although ATT is a wonderful course the vast majority of jobs out there (look on websites like Reed, Hays, Accountancy Age, Total Jobs, Jobsite, etc) want part-qualified ACCA studiers (not ATT studiers). So even though I'm doing ATT and believe that ATT would provide you with better training and be more enjoyable, I honestly believe you would find it much easier to get a job in practice and tax with ACCA. (Out of the 14 exams of ACCA (you only have to do 11 if you have done AAT) only 2 are tax based.)

However the ATT course is only a 1 - 2 year qualification (ACCA is more like 4 - 5 years) so even if you decide to do ATT you can always do something like ACCA/CIMA afterwards.

Re: ATT there are 3 exams and 2 computer based tests (however if you have done business tax at AAT you only have to do 2 exams and 2 computer based tests); to become a member of ATT you need 2 years experience of dealing with tax.

Hopefully the above information helps you to make an informed decision, please feel free to ignore this as I'm only going on my individual personal experience.

michael1199

Hi reader,

No that is some helpful advice so thankyou.

In college I will be doing business tax and
Personal tax.

If I had to choose between CIMA or ACCA then I would choose ACCA.

I'm just wondering if I could do both ATT and ACCA like you suggested. I am 25 but it is the thought of studying for another 5 years lol.

That is a valid point when you said look on reed etc. I have noticed it mentions ACCA more than ATT.

Really appreciate your advice, just received my budgeting and FNPF result yesterday and passed so need to decide what I want to do.

Thanks again.

Michael

reader

michael1199 wrote: »

Hi reader,

No that is some helpful advice so thankyou.

In college I will be doing business tax and
Personal tax.

If I had to choose between CIMA or ACCA then I would choose ACCA.

I'm just wondering if I could do both ATT and ACCA like you suggested. I am 25 but it is the thought of studying for another 5 years lol.

That is a valid point when you said look on reed etc. I have noticed it mentions ACCA more than ATT.

Really appreciate your advice, just received my budgeting and FNPF result yesterday and passed so need to decide what I want to do.

Thanks again.

Michael

I read in the last edition (or maybe the 1 before that) that 1/3 of ACCA studiers are below 25, 1/3 are between 25 - 35 and 1/3 are above 35. Therefore 2/3 of ACCA studiers are 25 or above.

After I've finished ATT I'm definitely going to carry on studying until I'm chartered (in either tax, managements accounts or ACCA). I think the only way to do more interesting work (rather than just data entry) and earn good money is by becoming chartered. It will be worth it in the end when you're 30 - 35 trying to buy a house/provide for a family.

michael1199

Exactly what I thought, need to become chartered.

How can you become chartered in taxation side then? Would it be ACA?

I've not looked into too much details on these yet just wanted to try and get AAT done but the end is fast approaching, hopefully if I pass them all.

What are you thinking of studying after ATT?

Thanks

Michael

omega man

I think chartered in tax is CTA

Makkusu

Most people on this forum will look at:

ATT - CTA (Chartered Tax route)
AAT - ACCA/ACA (Certified/Chartered)
AAT - CIMA (Management accounting/Industry route)

They say ACCA is a more broader qualification and slightly more appealing if you'd ever want to give working in industry a try but if you'd like to work in practice the whole of your life then ACA is commonly regarded the best step up.

But who knows, it depends what idiot interviews you because they're probably the same.

I personally think the joint ACA/CTA qualification is the crème de la crème of accountancy qualifications, I would love to have that displayed on my CV... to me it reads; "DO NOT **** WITH ME!".

michael1199

Hi makkusa,

Haha very good point and thanks for the advice.

I was looking more towards ACA, was looking at articles last night and there's all this debate which one is more worthwhile.

I was leaning more towards tax and working in practice so as you say the ACA may be better suited for me.

Thanks

Michael

reader

michael1199 wrote: »

Hi makkusa,

Haha very good point and thanks for the advice.

I was looking more towards ACA, was looking at articles last night and there's all this debate which one is more worthwhile.

I was leaning more towards tax and working in practice so as you say the ACA may be better suited for me.

Thanks

Michael

The only problem with ACA is that you need to secure a training contract with an ICAEW firm of accountants (which can be pretty tricky). Click on the link if you want to find an ICAEW firm close to where you live. Feel free to e-mail local ICAEW firms and apply for a ACA training contract on a speculative basis. Firms have finished their tax returns so they will probably start planning their staff numbers for the next year sooner or later.

With ACCA you don't need a training contract in order to start it.

reader

michael1199 wrote: »

Exactly what I thought, need to become chartered.

How can you become chartered in taxation side then? Would it be ACA?

I've not looked into too much details on these yet just wanted to try and get AAT done but the end is fast approaching, hopefully if I pass them all.

What are you thinking of studying after ATT?

Thanks

Michael

To become Chartered in Tax you would have to do the CTA qualification with the CIOT.

I haven't actually made my mind up what I'm going to do after ATT, I still have some way to go re: ATT, e.g. do a 3 hour business compliance exam in May and then two 1 hour computer based tests in ethics and law (then I'll be ATT qualified as I already have 2 years in corporation tax, personal tax and VAT).

If I move into industry I will probably do CIMA, if I move into a specialist tax firm I will probably do CTA or if I move into another firm of accountants then I'll probably do ACCA/ACA (depending if the firm is an ACCA-licensed firm or ICAEW-licensed firm).

michael1199

Hi reader,

That's very good info thankyou.

How difficult was it for you to find work in practice?

This is what I want to move into. I don't feel that I'm moving forward in my company and would
Love to get a job in practice. I'm at the stage that I would even take a pay cut.

When I look at jobs online within tax/audit they all require precious 2 years experience in a practice. I even looked at a junior position and guess what it said '1 year experience working within a practice', this I for a junior so how is it possible to move into practice. I've given this a lot of thought lately and want to try something different and would really feel that I would enjoy working on tax returns, VAT etc.

I don't no whether to apply now before I finish AAT or wait until I'm finished. Which would hopefully be in December.

I don't have A levels I got C for math and English, not sure if I will have a dis advantage amongst others but just can't seem to find any junior roles anywhere.

Thanks for taking your time reading this and for all the info.

Thanks

Michael

reader

michael1199 wrote: »

Hi reader,

That's very good info thankyou.

How difficult was it for you to find work in practice?

This is what I want to move into. I don't feel that I'm moving forward in my company and would
Love to get a job in practice. I'm at the stage that I would even take a pay cut.

When I look at jobs online within tax/audit they all require precious 2 years experience in a practice. I even looked at a junior position and guess what it said '1 year experience working within a practice', this I for a junior so how is it possible to move into practice. I've given this a lot of thought lately and want to try something different and would really feel that I would enjoy working on tax returns, VAT etc.

I don't no whether to apply now before I finish AAT or wait until I'm finished. Which would hopefully be in December.

I don't have A levels I got C for math and English, not sure if I will have a dis advantage amongst others but just can't seem to find any junior roles anywhere.

Thanks for taking your time reading this and for all the info.

Thanks

Michael

I found it easy to find voluntary work in practise and then when I got this opportunity I found it easy to convert it into a full-time job as I worked very hard during my work experience (partly luck as well because another employee left).

However I'm finding it hard to move on from my current work place as I'm only AAT-qualified and ATT part-qualified, i.e. I'm not an ACCA studier (which I think is pretty important if you want to secure something in practise these days because there is so much competition).

I'm sure the skills that you use in your current role will help you in practise, e.g. management accounts, double entry, fixed assets registers, bank recs, using computer programs e.g. sage/excel, monitoring debtors and creditors, posting journals, etc. And if you're an ACCA studier as well I would have thought that a practise would give you a shot in a junior role. You will probably have more success in applying once you have finished AAT and started ACCA but you can also start applying now just in case.

A-Levels don't really matter. Once you have AAT (1st year university-level qualification) and started doing ACCA then recruiters and employers will know that you are suitably academically qualified. I think there is even a 2 year AAT-ACA programme as well if you join an ICAEW firm.

I'm happy for you in that you're enthusiastic and keen to learn and move into tax/practise, however, as I'm sure you're already aware, I wouldn't mention your tax/practise aspirations to your current employer as your current employer may see this as a lack of loyalty and not put you forward for any promotions/pay rises/study packages. I know that you haven't mentioned talking to your current employers but I thought I would just mention it as food for thought. I can be very risky telling an employer you are considering leaving as they may get annoyed that they spent so much time training you (just for you to leave). Personally, I think discretion is key in these types of situations.

michael1199

What was you thinking of moving onto?

I think my boss has an idea that I will move on once I have completed AAT. Year after year I ask for a payrise but don't get anything. I've taken
On more work anyways on time, never off sick bit don't get any recognition for
It. But don't want to sit here and rant about my job.

I just don't feel I'm doing enough accounts work which I was promised when I first started, there is a low staff turnover as well so can't move up at all. I just want to gain more knowledge
In practice or at least put the skills I've learnt in college to actual good use.

The more I think about it, the more I think I'm better trying now than leaving it and by then I might be over qualified with no experience of
Accounts work. I do basic stuff like creditors etc but this is what I learnt on level 2 AAT, I've mentioned about taking on more relevant accounts work but my boss has said these job are already taken.

From your experience do you think ACCA is the way to go then?

Thanks

Michael

reader

michael1199 wrote: »

What was you thinking of moving onto?

I think my boss has an idea that I will move on once I have completed AAT. Year after year I ask for a payrise but don't get anything. I've taken
On more work anyways on time, never off sick bit don't get any recognition for
It. But don't want to sit here and rant about my job.

I just don't feel I'm doing enough accounts work which I was promised when I first started, there is a low staff turnover as well so can't move up at all. I just want to gain more knowledge
In practice or at least put the skills I've learnt in college to actual good use.

The more I think about it, the more I think I'm better trying now than leaving it and by then I might be over qualified with no experience of
Accounts work. I do basic stuff like creditors etc but this is what I learnt on level 2 AAT, I've mentioned about taking on more relevant accounts work but my boss has said these job are already taken.

From your experience do you think ACCA is the way to go then?

Thanks

Michael

Try and finish AAT ASAP and while you are finishing AAT apply for trainee roles at acca and icaew firms and then if you get a role in an acca firm start doing acca and if you get a role in an icaew firm do aca. If you still havent got any roles once you have finished aat then start doing acca from f4 onwards.

michael1199

Ok thanks for the advice Reader.

Will start applying and see how things turn out.

I will keep the post updated.

Regards

Michael