Studying CTA Indirect Route

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Enterprise_Warrior
Enterprise_Warrior Registered Posts: 77 Regular contributor ⭐
edited June 18 in General member discussion
Hi Everyone

I was looking at studying ATT then realised that you can study for the CTA qualification without any prior qualifications but you have to specialise in VAT.

I have 2 questions...

1. Has anybody done this route after AAT and is it anymore work than the direct route?

2. Have they offered this route because there are a lack of members that are specialising in VAT?

Thanks

EW
FMAAT, AAT Licensed Accountant and CIMA finalist

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  • Bertie
    Bertie Registered Posts: 373
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    Hi,

    With this being relatively new I doubt many, or any, have completed this pathway yet.

    I think you can achieve ATT along the way. From memory the initial student membership fee is double that of an ATT student.

    Regarding Q2 - I've no idea if that is the reasoning. But I'd assume that having a comprehensive knowledge of VAT, for a CTA is a given.

    There is no reason why a person could not specialise in VAT, but it makes most sense to have a knowledge of all taxes, especially at that level - the Golden Standard level that is.

  • MarieNoelle
    MarieNoelle Registered, Moderator Posts: 1,303
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    Hi
    The indirect route includes VAT but also all other indirect taxes such as IPT, SDLT, Customs duties etc...
    I studied VAT at the awareness level and it gives you a good all round knowledge, certainly enough for most of my practice clients -Although I have had to ask for specialist advice for some cross border transactions on a couple of occasions for reassurance.
    How does that specialism fit into your career plans?
  • Enterprise_Warrior
    Enterprise_Warrior Registered Posts: 77 Regular contributor ⭐
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    Thanks.

    I want the all-round tax knowledge so direct is probably the best route but it would mean completing ATT first. Having looked at the exemptions, you still have to sit 5 papers for CTA after completing ATT.
    FMAAT, AAT Licensed Accountant and CIMA finalist
  • BeccaLouJ9
    BeccaLouJ9 Registered Posts: 875 Epic contributor 🐘
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    I would sit the ATT first and go direct unless you want to specialise in the indirect taxes.

    You get so much breadth of tax knowledge doing ATT and then CTA, really interesting stuff.

    There is, I think, an ATT and CTA joint pathway which you might want to look into.

    https://hub.tax.org.uk/pathway

    B
  • Bertie
    Bertie Registered Posts: 373
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    I'd go for the ATT qualification first also.

    It's all about building strong foundations. I've never read a CTA study text, but I'd assume it does not cover the basics as ATT will, or it will not cover the basics in as much detail as ATT.

    I hope that makes sense?

    To go from AAT tax, to CTA tax would be hard, ATT is no walk in the park.

    I could well be proven wrong.

    CTA is clearly the Golden Standard when it comes to tax, and to give yourself the best chance and start, build up slowly.

    But then I've never sat an CTA exam - so...

  • Enterprise_Warrior
    Enterprise_Warrior Registered Posts: 77 Regular contributor ⭐
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    Looks good. Will have a proper look later.

    Thanks
    FMAAT, AAT Licensed Accountant and CIMA finalist
  • BeccaLouJ9
    BeccaLouJ9 Registered Posts: 875 Epic contributor 🐘
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    CTA was haaaaaaaaarrd!! But worth it :)
    B
  • Enterprise_Warrior
    Enterprise_Warrior Registered Posts: 77 Regular contributor ⭐
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    How hard?
    FMAAT, AAT Licensed Accountant and CIMA finalist
  • Bertie
    Bertie Registered Posts: 373
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    I can well imagine @BeccaLouJ9

    How does CTA compare to ATT, is CTA more advisory and looking at the best possible solutions, more so than working out the technical calculations?

    Can I ask how many hours of study, per week, you dedicated to passing the exams?

    Were you a distance learner?

    Thanks
  • BeccaLouJ9
    BeccaLouJ9 Registered Posts: 875 Epic contributor 🐘
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    Uh... not sure how to answer that. I found ATT to be a massive step up from AAT and then when I started CTA it was an even bigger step up.

    You need to know the legislation and tax law so well that you can apply it to any scenario rather than just stating a rule.

    Everyone is different though, so you may find it a breeze :)

    B
  • BeccaLouJ9
    BeccaLouJ9 Registered Posts: 875 Epic contributor 🐘
    edited April 2017
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    @Bertie we overlapped there.

    I was distance learning. Although I did do an online live course for the last exam I took.

    You are right that it is advisory. That is what two of the papers are called. One is an application paper which is a 3 hour case study which was just so intense!! And then there is the awareness which is more a broader overview of three topics.

    I put in a couple of hours each night after work and 10 or so hours at the weekend. More towards exam day. Less when I was fed up of study! :)

    There are quite a few posts on here from @MarieNoelle and I re CTA. Have a look at those if you want to see our mental state during study :)

    B x
  • Bertie
    Bertie Registered Posts: 373
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    Hey @BeccaLouJ9

    Thanks for that.

    Yes I'll have a nose!

    I'm tempted to have a go at it. I enjoyed ATT.

    Can I assume that yourself and Marie are now also members of CIOT?

    Are you happy with all your qualifications now lol!?

  • BeccaLouJ9
    BeccaLouJ9 Registered Posts: 875 Epic contributor 🐘
    edited April 2017
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    Fully fledged and paid up member of the CIOT.

    Chartered :)

    B x
  • Bertie
    Bertie Registered Posts: 373
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    Excellent stuff!

    I imagine that was a good day for you :)
  • Enterprise_Warrior
    Enterprise_Warrior Registered Posts: 77 Regular contributor ⭐
    edited April 2017
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    @Mickdundee

    Still not sure what to do. I can complete CIMA inside of 6 months and probably apply for Fellow membership straight away but feel like I need something else. Was looking at doing the Corporate Finance qualification through CISI as a top up in order to stand out a bit from other CCAB qualifieds in industry but then I was thinking about doing CTA to offer more focused tax advise for my own practice in the hope of working from home and for myself full time.

    If I go down the CTA route, they offer an ATT-CTA joint qualification which will solve the knowledge gap of jumping into CTA.
    FMAAT, AAT Licensed Accountant and CIMA finalist
  • Enterprise_Warrior
    Enterprise_Warrior Registered Posts: 77 Regular contributor ⭐
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    Mickdundee said:

    If you have done CIMA to a point that you can become CIMA qualified within 6 months, I wouldn't entertain doing any other qualification until CIMA was complete.

    That's the plan as ATT-CTA only allow you credits for 2.5 years for the exams you have passed and then I assume that you have to sit them again.
    FMAAT, AAT Licensed Accountant and CIMA finalist
  • Bertie
    Bertie Registered Posts: 373
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    CIMA is no longer a member of CCAB.

    IMO CIMA wins in industry, the syllabus is almost entirely different from ACCA and ICAEW. But there are obvious similarities.

    That's not to say ICAEW and ACCA are useless in industry because obviously they are more than valuable qualifications.
    And I'd say there are more ACCA and ICAEW accountants sat in the top FTSE 100 CEO seats than there are CIMA accountants.

    As a top up to CIMA, once you've completed it, there is the Islamic Finance element which CIMA is pushing out - might be worth a look.

    I think the first thing you need to do is complete CIMA, then decide where and what you want to do.

    If you did opt for the CTA route, there is the ATT way, or the indirect tax way. As CIMA is not made up like ACCA and ICAEW, there is no direct entry to CTA - rightly so, there is more tax in the AAT syllabus than in CIMA.

    Now, trust me when I say this, VAT is not a simple science, it is not the easy option.



  • Enterprise_Warrior
    Enterprise_Warrior Registered Posts: 77 Regular contributor ⭐
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    Thanks Bertie
    FMAAT, AAT Licensed Accountant and CIMA finalist
  • BeccaLouJ9
    BeccaLouJ9 Registered Posts: 875 Epic contributor 🐘
    edited April 2017
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    Mickdundee said:

    >
    I hear your mental state outside of study wasn't much better, particularly with your Christmas obsession ;)

    *** Did someone say Christmas?? 242 days and counting! :) ***

    It isn't an obsession... it's... love?! :)

    B
    x
  • MarieNoelle
    MarieNoelle Registered, Moderator Posts: 1,303
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    Hi @BeccaLouJ9
    I have deleted some duplicated posts - you are definitely obsessed! ;)
  • BeccaLouJ9
    BeccaLouJ9 Registered Posts: 875 Epic contributor 🐘
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    Thanks @MarieNoelle I got sent to the spam folder! Then it got posted an extra 7 times to make up for it! :)

    B x

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