My Week: Study Day

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Hello folks. Time flies. We are already over halfway before the end of the month. When I sit down and draft My Week, I always ask myself what have I achieved this week. The response is always just not enough. 

On the work front, I am caught up in the day to day. The downside of working on maintenance/survival tasks will mean that I will not move forward. I will stay where I am. 

It is a short and not so sweet My Week post. I just want to rest after a week that could have gone so much better. 

VAT Compliance 

As I mentioned in the previous My Week, just one HMRC compliance visit work can take over the practice. Most of Q's week was taken up in preparing a response to compliance visit. There is still further work to do. 

On the next renewal date, I will change fee protection insurance provider. I will move to a provider who takes over and does the work based on the information we provide. 

I do not want practice's time taken on responding to HMRC's tax officer. 


Honestly, folks, CTA advisory paper is just too much. It demands hours of study. In my case, I am still not there. Even with the time I put in,  it is not sufficient to cover the subject adequately and pass the examination.

I took a day off to catch up. I cannot do this every week. 

The upside of my attempt to study the advisory paper is that I am learning aspects of taxation that is already beneficial to the practice. Further, it will bring rewards over the long term. 

I am conflicted. The time I put in studying, I could be working on value-adding tasks that would bring immediate benefits to the practice. The exam is in May until then I will carry on as I am and review my position, whether to carry on with CTA.  

New Business

It was a good week for potential client queries and meetings. This is without me taking any action on marketing. I will know the outcome of my proposals next week. 



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21st Feb 2018 14:13

Are you using a tuition provider for your CTA exams? If so they'll be able to set you a mock exam, so you'll roughly know where you are.

It's not only tax knowledge that you need to learn for these - it's also exam technique.

After I went through the manuals once, I found the best way to study was just to do loads of practice exam questions.

Regardless of whether you pass or fail though, I doubt you'll find swotting up on it a waste of time or money as pretty much everything on the syllabus is relevant.

Thanks (1)
to TheLambtonWorm
21st Feb 2018 20:28

Hello TheLambtonWorm

I am with Tolley distance learning package. I have also booked on their revision course.

You are spot on about the relevance of studying for CTA. It is proving to be extremely helpful in my work. Far more useful than ACCA.

I intend to go through questions from next month. Through I have been attempting questions as I am going through the material. Tolley provides a separate question bank to practice and understand after each topic has been covered.

It is the exam target that is making me read the material. Otherwise, it would not be covered. I will see how the exam goes in May.

Thanks (0)