Worth studying CTA?

Gained ACCA in practice, now in industry, planning a return to practice as a partner in the future

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Good morning all,

I am thinking about doing the CTA, but am interested in some advice from people who have been in my situation.

I gained my ACCA in practice, have left to work in industry, but feel that in the long term I will get back into practice as a director/partner, with a view to start my own practice in the future. To add context - although I understand the general nature of practice, I have a very strong leaning towards offering a Manager Service outsourced finance department offering, and therefore feel that a strong skill base covering financial accounting/management accounting/tax will be valuable.

One the one hand I know CTA is more difficult and will require a time and money investment, on the other I know that it will be a string to my bow. Currently I'm having a hard time arriving at a decision.

I would be very grateful to hear from someone who has been in my situation.

Thanks

Replies (11)

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By Paul Crowley
07th Mar 2021 13:53

Yes
Recognised as the top tax qualification

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RLI
By lionofludesch
07th Mar 2021 14:10

If it's going to be useful to you, yes.

The trick is to make sure that it will be useful on your chosen career path.

Or, put another way, choose a career path which makes it useful.

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By Paul Crowley
07th Mar 2021 14:39

Getting the qualification says you are at that level.
But tax changes mean that keeping up to date is critical.

My business partner has no tax qualification, but he gets it right on what we do and refers to me as required
He keeps up to date.
Much more challenging to keep up to date when not in practice

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Red Leader
By Red Leader
07th Mar 2021 14:46

Look at ATT first.

Thanks (1)
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By GR
07th Mar 2021 16:21

Given that doing something like ATT or CTA is not going to make you a worse accountant and would prove very useful if you go back to practice I would say doing either ATT or CTA is definitely worth doing.

Therefore I think the real question is whether you do ATT or go straight into CTA. If you have forgotten your ACCA tax info maybe you should do ATT. If you can remember your ACCA tax info then maybe you will be fine jumping straight into CTA.

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By Maslins
08th Mar 2021 14:35

I didn't do the "industry" bit, but otherwise am similar. ACA, who then did CTA, now running own practice.

CTA is hard, but the stuff learned was very useful. The qualification itself, not so much. Most clients don't know the difference between AAT/ACA/CTA/50m swimming badge, so don't expect many to be impressed. However, it was good at going beyond ACA (and I'm sure ACCA) in terms of giving you an idea of things to look out for, considering lots of things in a big transaction etc.

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Routemaster image
By tom123
08th Mar 2021 14:50

I certainly find it useful having ATT, given that I am CIMA qual, from my industry setting.

I tried CTA, but it was too big a jump given the lack of exposure in my day to day work.

Won a prize for my VAT paper too :)

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By AS44NG
08th Mar 2021 16:23

As a general practioner the ATT was perfect for me. I did then go on to study for the CTA but decided not to take the exams as I believe that the CTA qualification is more for those that want to work in a tax department and/or those who are tax specialists.

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By SteveHa
09th Mar 2021 10:35

I asked the same question myself, although I've worked in practice for the past 21 years, and HMRC for 20 years before that.

Although my employer is happy to fund it, the consensus for me was that, because of my age and experience, it's probably not worthwhile for me. It makes no difference to my role, salary etc.

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paddle steamer
By DJKL
09th Mar 2021 10:42

"I have a very strong leaning towards offering a Manager Service outsourced finance department offering"

Is there much demand for this and would the sorts of clients who might wish it need higher end/skill tax advice warranting the CTA qualification?

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Replying to DJKL:
RLI
By lionofludesch
09th Mar 2021 11:21

Quote:

"I have a very strong leaning towards offering a Manager Service outsourced finance department offering"

Is there much demand for this and would the sorts of clients who might wish it need higher end/skill tax advice warranting the CTA qualification?

Ah - the very real difference between what you want to do and want others want you to do.

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