CAP Exemptions UK

AtticusFinch86

Hey, I qualified last year with an Honors degree in Accounting here in Ireland. The degree gives me exemptions from the Chartered Accountancy CAP 1 exams here in Ireland but I'm wondering if it's possible that the same would apply in the UK? or would I more than likely have to sit them from scratch?

On another note, I've an interview next week about the possibility of taking up a Tax Trainee role at a medium sized Tax firm in Ireland. I'm really drawn to the idea of moving to London at some point in the future but I'd like to know would working in tax limit my opportunities to work there? I know the tax legislation is different in the UK but is it so fundamentally different that it would negate the likelihood of me having the opportunity to move there at some point? I don't mind staying in Ireland for a few years to get my qualification and some experience under my belt but I'm not too keen on being pigeon-holed into staying on on a permanent basis. I'd like at least to have the opportunity to travel, even if I don't take it up.

Marcusm

If you want to work in Tax in London then my advice would be to qualify through a tax dept in Dublin as an ACA rather than any other route. There are always plenty of jobs in London both in practice and industry for foreign qualified tax specialists. The benefit if ACA will be the broader training compared to AITI. Income tax, CT and CGT continue to have strong commonalities (although in the UK greater emphasis is placed on accounting rules with legislation - counter intuitively perhaps. CAT is completely irrelevant, stamp duty heading for irrelevance (diverged too far). If you train in VAT, you'll walk into a job very easily.

dbran

Hi

The UK and Ireland tax systems are quite different in a number of ways and there are certain things over here that will just not fly in the UK, especially on the higher end areas. Your experience of the Irish system would be of limited use unless you happen to be lucky enough to land yourself with a position where a knowledge of the Irish system is a requirement.

dbran

Marcusm

dbran wrote: »

Hi

The UK and Ireland tax systems are quite different in a number of ways and there are certain things over here that will just not fly in the UK, especially on the higher end areas. Your experience of the Irish system would be of limited use unless you happen to be lucky enough to land yourself with a position where a knowledge of the Irish system is a requirement.

dbran

As an Irish qualified person who has spent 18 years at the higher end - the last time I charged by the hour was 2001 and I charged £600ph at 29 - in the UK I would disagree and I see this regularly with people newly arriving from Ireland, Australia and New Zealand where the systems have almost no similarities. The Schedular system (for CT at least) remains similar (important differences on Sch A v SchD Case V etc) and more importantly a good grounding in Irish tax and an open applied outlook will always be preferable to a newly qualified UK accountant with minimal tax experience.

Dublin office experience at the Big 4 will generally be worth more than UK experience in Big 4 Nottingham/East Midlands whatever.