I am a CIMA accountant who has just started as an independant company with my husband but I would like to further my studies and broaden what services we are able to offer with a tax qualification. I would like advise of whether ATT or CTA is better or do they just serve different needs ??
Jennifer Rolt
Replies (8)
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CIMA can in theory
When I did CTA, there were a couple of CIMA in the group, so it can be done.
However, IIRC, neither actually took the exams at the sitting we were originally going for (this may be due to entirely external circumstances, but...)
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Jennifer,
If you are from an industry background and your general tax knowledge is not what you would like do the ATT, it is a lower level qualification, but none the less a good one. For general practice it will serve you very well.
CTA is the premier tax qualification and to be honest may be more than you need.
Hope this helps.
From my understanding...
... the ATT is a pre-requisite to the CTA and will be superceded (as in you probably wouldn't put ATT on your cards once you have CTA).
So from a financial/time point of view, straight to CTA in my opinion.
But if you are really new to tax you will find the CTA hard going, as it is the deep end. So if you do not have much tax experience you would be better doing ATT --> CTA.
I'm doing ACCA at the moment and that allows me to go straight to CTA. I have no intention of wasting my time or money on the ATT (but then I work in tax).
You will have to do ATT first
Unless you have an exemption, in which case I would (and did) go straight to CTA. It is a more advanced tax qualification than ATT.
Do Both
It's a bit like A levels and O levels, or whatever they are now... The ATT gives a good grounding of the basics and the CTA is more about applying the basics.
Unlike the old ATII membership, if you have done both qualifications you can use both CTA and ATT after your name. The clients don't need to know they are both tax qualifications, do they.
If you have the time and can face 2/3/4/5 years more study, I do believe that it is worth doing both. The accounting qualifications don't seem to go into enough detail to give sufficient grounding to go straight into CTA.
Always look far
Don't just stop at ATT should you decide to take up ATT. Look farther and broader, take up CTA after that. CTA will suit your entire tax career should you game to become one Tax Accountant.
Good Luck and Cheers.
CTA got professor backup
I think Executive Chief Director of Tax better than Tax Accountant.
CTA can become Executive Chief Director of Tax or CA or CPA can ?
If CA CPA can, then CTA lose status to CA CPA.
Indirect Tax and IIT
The Chartered Institute of Taxation, or CIOT, (leading to the letters CTA) is very good but historically had a background more in direct tax, both personal and business.
But a lot of that might not be so relevant to your target market of SMEs and such like.
Since you are looking at the business market think about the Institute of Indirect Taxation, IIT, http://www.theiit.org.uk, which as the name says gives a good grounding in VAT and other indirect taxes. If the tax side of your business takes off then you might think about adding the direct tax qualification(s).
Eamon Mc Nicholas Esq.
Tax Barrister
(and ACMA)
http://www.EamonMcNicholas.com
[The above is not to be taken nor used as specific advice]