My Week: Mature Student

FirstTab
Blogger
Share this content

Hello folks. Long summer holidays from a commuter cyclist perspective, are brilliant. It makes such a big difference when school run cars are not on the road. During term time, parents should take other modes of transport that exclude driving. Not having any offspring, it is easy for me to say. The roads will be congested again soon.

It is not my usual My Week post. I do not know why. I have more to say, but for some reason, I do not want to put pen to paper. Here is today’s My Week.  

Video Tour

I surprised myself by recording a video tour of  FT store. The recording exceeded my expectations. It was all done on my mobile phone. Mind you, the technology in smartphones makes them idiot proof. I cannot take the credit. The video was made public over the week.

CIOT

After some thought, I decided to study for CIOT. It is important that I make the time to study UK taxation. As I mentioned in last week’s in Any Answers post, I took taxation exams many many years ago. My studies, I believe, will pay dividends regardless of passing exams. I will study with the intention of passing the exams. Otherwise, I will not be focussed.

The Plan

Here is my plan for studying and completion of CIOT.

  • Taxation of Individuals - May 2018 sitting. Enrolled with Tolleys. Distance Learning+Online lectures.  Cost £440+VAT
  • Taxation of Owner Managed Businesses – November 2018 sitting
     
  • Awareness Modules  (One paper): May 2019. It covers in ONE paper:
    • Taxation of Unincorporated Businesses
    • Inheritance Tax, Trusts & Estates
    • Corporation Tax
       
  • Law and Professional Ethics computer based. After May 2019 exam. Can be done anytime. 
     
  • Application and Interaction- Taxation of Owner-Managed Since I took ACCA years ago I am not exempt. – November 2019 sitting.

It is a PLAN. I will see how the first paper goes and then review my plan. I want to complete CIOT. It will help a great deal with my work. Age is NOT on my side.

 
 

Replies

Please login or register to join the discussion.

19th Aug 2017 10:13

Good luck with CIOT. I think it's a massive task, especially whilst running your business.

Thanks (2)
By Glennzy
19th Aug 2017 18:42

Good luck with that FT.

I had good intentions of doing CIoT folllowing ATT bit never bothered as struggled with the study level on top of working and having a family life.

Thanks (1)
avatar
21st Aug 2017 19:20

First Tab, may I suggest you take the Application and Interaction paper at the same time as the OMB paper, or at least for the same Finance Act (May and November sitting). The technical content for the Application paper is the same as the OMB so it would be fresh in your mind.

Thanks (1)
to Chipette
21st Aug 2017 20:15

Thanks Chipette. Good point. I will combine OMB with Application and Interaction paper for the same Finance Act.

Thanks (1)
avatar
23rd Aug 2017 12:04

Hi FT,
I have just started studying for CIOT with BPP and am doing the same route as you except I am sitting the awareness papers first. The option you have chosen won't cover unincorporated businesses in the awareness exam, it will be Vat.

I am definitely finding it hard to fit in (on top of running my business, looking after the kids and training for the Great Eastern Run) but I am already picking up things that have changed from when I sat ATT and ACCA - many moons ago. It is hard going, but I said to myself if I fail the awareness paper I will probably call it a day, but at least I will have learned something along the way.

I just need to find the right suitcase to take all the legislation to the exam.

Good luck with your studies, it keeps you on your toes.

Thanks (1)
23rd Aug 2017 20:31

Thank you all for the supportive comments.

Hello lisimano

I agree, even if the exam(s) is not a success, there is CPD gained from formal study.

I think combining study with looking after children and business is a real challenge.

In my case, thankfully, with the first paper, I have until May 2018. Though I am not resting on my laurels. I have started reading the material.

Interesting that you choose BPP. I did not look elsewhere and went for Tolley. For the next paper, I will review.

Good luck as well lisimano. It would be good to know how you did with the awareness paper. You will know my progress on a weekly basis!

Thanks (1)
avatar
to FirstTab
24th Aug 2017 09:28

I will let you know how I get on.

I have heard good things about Tolleys, the only reason I chose BPP over Tolleys, in the end, was that BPP answered the phone. ( I had a couple of questions and was going to use Tolleys but I just could not get my phone call answered.)

Thanks (1)