Can't decide which elective ATT paper to do
Gem7321
Registered Posts: 1,412 Beyond epic contributor ๐งโโ๏ธ
I know I don't want to do IHT but I can't decide between Business Compliance, VAT or Corporation Tax.
How did you decide which paper to sit and how useful did you find it?
How did you decide which paper to sit and how useful did you find it?
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They're all aspects of my work so I'm really struggling to choose just one. To be honest I'm surprised that the ATT qualification is limited to just Personal Tax, Administration/Ethics and one other, I thought it would be more advanced in all areas.
One thing I have decided is that whichever one I sit I will still buy the books for the others!0 -
Hi Gem
Have you done any of the studying as yet?
You should have business tax in that compulsory list too. Please don't tell me you are taking the exemption?
Regards
Dean0 -
Gem: wait til you start studying the Personal Tax module. It is so far away from the AAT module, you won't know what hit you (and will be delighted it did!).
As to the option, I chose VAT. Why? Because a better knowledge of VAT is advantageous to all general accountants. The Higher Business Tax (as it was then) focused a lot on group company taxation etc which I don't deal with at all, so I thought VAT would be more helpful to me (and indeed easier). Now it's Corporate Tax it's possibly harder to choose. I suggest having a look through past papers (on the ATT website) and seeing what's involved with each before you make a decision.
I would go with one of the two taxes as opposed to the compliance paper, but that's just me.0 -
Thanks Monsoon
I managed to find the past papers and have decided (duh duh duuuuuh) to sit corporation tax. I was torn between this and compliance in the end as compliance covered a bit of VAT too.
Dean, why shouldn't I apply for the exemption? I haven't started studying yet but I will be studying by distance learning.0 -
I think I'll do compliance; seems like a really good paper, i.e. PAYE, benefits, VAT etc.0
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Monsoon
You're giving a slight mis-conception about "paper 3" it that it is gearing towards groups. While there are groups involved there was also a lot on reconstructions, connected persons, pre 1965 assets for CGT, Misc capital allowances, termination payments - not to mention knowing paper 2 without question.
Gem, normally I am in favour of taking exemptions and exemptions to me only exempt you from the time spent in an exam hall - they don't exempt you from knowledge required!
You have chosen the best paper (corporate tax) to make use of the exemption. As I said above to pass that paper you will need the required ATT business tax to pass it - so for you, I wouldn't mind you taking the exemption
For someone not doing corporate tax and taking the exemption slightly de-values the ATT qualification because (unless things have changed since my day) the AAT's tax papers are just no where near detailed enough to grate a full exemption from ATT's business tax.
Regards
Dean0 -
Agreed - which is why I'm glad I took the exam before I realised I could have had an exemptionFor someone not doing corporate tax and taking the exemption slightly de-values the ATT qualification because (unless things have changed since my day) the AAT's tax papers are just no where near detailed enough to grate a full exemption from ATT's business tax.
That was 4 years ago so I've had to fork out ยฃ80 for a renewal of competence 
Dean, I didn't say paper 3 was geared towards groups - just that it was in it.
All of the VAT paper is useful and, at the time I chose my option (not now - things have changed) more of the VAT paper had relevance for me over the BTHS paper. Also, with my health issues I have to sometimes choose the easier route, which VAT was. I'm going to get a BTHS book for CPD, for sure 0
