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Registered AITI Tax Qualification Info and Questions

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Comments

  • Registered Users Posts: 129 ✭✭TheScriptFan


    Hi Blooming - good luck in the CPA's - I would consider part 2's to be of similar standard to Prof 2's CPA. I got all 4, Both a considerable amount of work but do-able. You have to put the work in of course. The lectures are pretty hard going all week-end, it becomes a bit of an overload. Just be consistent and keep up with the work, the biggest difference is becoming familiar with the legislation and getting used to working with them in the exams.

    G'luck!!


  • Registered Users Posts: 199 ✭✭ascuteasabutton


    Does anyone know how long it takes for the CA results to come out? Will we have them before the August exams?


  • Registered Users Posts: 25 REDSOCKS22


    Hey well i done the Part 2 in April and we done the CA for that in Jan and it was about 6 weeks before the results were out! So it will probable be about 6 weeks therefore they would be out before the exams! Hopefully they might come out sooner cos not as many people would have done it this time as in Jan so they might get them corrected quicker!


  • Registered Users Posts: 59 ✭✭littlelady81


    Hi guys does anyone know anyone who gives grinds for AITI Part 3 Personal and Business?? Near Galway if possible??:confused:


  • Registered Users Posts: 119 ✭✭Teej


    Hi guys does anyone know anyone who gives grinds for AITI Part 3 Personal and Business?? Near Galway if possible??:confused:

    There's a grinds panel list on the Current Students section of the website. Hopefully there'll be someone on that to help you


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  • Registered Users Posts: 421 ✭✭whiz


    Hi Guys, I was thinking about doing a tax qualification, but the AITI is specialised in Irish Tax Law I am told, is there an International Tax Qualification you can do ? that would give you training in tax legislation in a number of countries.


  • Registered Users Posts: 9,798 ✭✭✭Mr. Incognito


    Hi Guys, I was thinking about doing a tax qualification, but the AITI is specialised in Irish Tax Law I am told, is there an International Tax Qualification you can do ? that would give you training in tax legislation in a number of countries.

    No- it's takes three years to qualify in Irish tax and about the same internationally. How would you condense that? Every country has different legal, and taxation systems, there is no overlap.


  • Registered Users Posts: 49 Blooming


    hi,
    I am thinking of doing Part 2 this year, will be exempt from part 1, and have no idea what the exams are like.

    Does anyone know how to get a past paper in any of the modules in part 2 or if anyone has a paper could they post it up:)....would like a look to see if i'd be capable because by all accounts they are tough exams:o

    Thanks a million.


  • Registered Users Posts: 9,798 ✭✭✭Mr. Incognito


    pm me an email and i'll send you on past papers


  • Registered Users Posts: 421 ✭✭whiz


    Hi Guys, does anybody know what the pass rates are for PART 1, PART 2 and PART 3 of the AITI qualification ?


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  • Registered Users Posts: 736 ✭✭✭Legend100


    For 2010 for summer sittings the pass rates for first time applicants were

    Part 1 81%
    Part 2 54%
    Part 3 47%

    i will attach the historical pass rates


  • Registered Users Posts: 49 Blooming


    Thanks for your help Mr Incognito, much appreciated:)


  • Registered Users Posts: 54 ✭✭Emoyeni


    Does anybody know what exemptions are available for the consultant qualification by having the technician qualification as their prospectus/literature doesn't appear to reference this?

    Is there any value in doing the technician level first?

    I'm speaking from the perspective of a) supporting my partner in their business who is frustrated by the varying types of professional "advice" being provided, b) a career change & c) by doing the technician level first "having something to show for a years' efforts"

    Many thanks.
    Emoyeni.


  • Registered Users Posts: 3,912 ✭✭✭kilburn


    Spoke to them about this dont waste your time with the Technician course as there are no exemptions at all


  • Registered Users Posts: 54 ✭✭Emoyeni


    Spoke to them about this dont waste your time with the Technician course as there are no exemptions at all

    Thanks - weird?


  • Registered Users Posts: 736 ✭✭✭Legend100


    41% pass rate for the part 3 autumn exams today.....not looking forward to sitting them in may with that kind of pass rate


  • Registered Users Posts: 129 ✭✭TheScriptFan


    Legend100 wrote: »
    41% pass rate for the part 3 autumn exams today.....not looking forward to sitting them in may with that kind of pass rate

    I know eh!! I'm doing part 3's in May also, and I missed the first week-ends classes...argh..already behind!! but i think just getting stuck in from the start should see me right! Good luck with it!


  • Registered Users Posts: 666 ✭✭✭Speckydodge


    Hi, has anyone started the AITI Part 3 Home Assignment?? If anyone has any suggestions in relation to it, I'm having a block starting it :mad:


  • Registered Users Posts: 129 ✭✭TheScriptFan


    Hi, has anyone started the AITI Part 3 Home Assignment?? If anyone has any suggestions in relation to it, I'm having a block starting it :mad:

    I haven't started yet - but have read the model answer from the tutorial and will just copy that layout, that's what our tutor said to do. Hope to get it wrapped up during Christmas week so I can concentrate on studying for continuous assessment exam.
    I think the problem will be in doing the right amount of research, not doing far too much.

    I would start by just pulling out the relevant legislation for the two options to try and get an idea of the requirements??


  • Registered Users Posts: 736 ✭✭✭Legend100


    I missed the second workshop and see that the model solution is 35 pages long, would you really need to do that much, seems an awful lot for 15%:(


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  • Registered Users Posts: 129 ✭✭TheScriptFan


    Legend100 wrote: »
    I missed the second workshop and see that the model solution is 35 pages long, would you really need to do that much, seems an awful lot for 15%:(

    God no, I don't think they'd expect that at all. Sure they referenced a load of other crap that you'd never put in I don't think, well I wouldn't anyway!!
    Our tutor recommended saving their model solution and just putting in your own answers over it so you have the exact same layout and format. Granted he was a bit of a muppet, but that at least made sense.


  • Closed Accounts Posts: 7 Barstooler


    I'm doing the Part 3 Home Assignment too, but I've a bit of a problem which I'm hoping someone can help me out with...

    I'm away until after New Year and instead of bringing my Business Taxes book with me, I brought my Personal Tax book. Very clever I know. Anyway, last year on the website they had a downloadable version of all the manuals. Does anyone know if this still exists or where to find it?? I'm completely screwed without it, and the first week back to work will be mental so finding time in the space of 3 evenings to do the entire assignment will be virtually impossible.

    If anyone has a soft copy even of last year's manual I'd really appreciate it?? Or if you can find this year's on the website (I can't see it properly because the left hand side is somewhat cut-off for some reason).

    Thanks for reading and good luck with the assignment.

    Yours in panic,

    Barstooler


  • Registered Users Posts: 129 ✭✭TheScriptFan


    Barstooler wrote: »
    I'm doing the Part 3 Home Assignment too, but I've a bit of a problem which I'm hoping someone can help me out with...

    I'm away until after New Year and instead of bringing my Business Taxes book with me, I brought my Personal Tax book. Very clever I know. Anyway, last year on the website they had a downloadable version of all the manuals. Does anyone know if this still exists or where to find it?? I'm completely screwed without it, and the first week back to work will be mental so finding time in the space of 3 evenings to do the entire assignment will be virtually impossible.

    If anyone has a soft copy even of last year's manual I'd really appreciate it?? Or if you can find this year's on the website (I can't see it properly because the left hand side is somewhat cut-off for some reason).

    Thanks for reading and good luck with the assignment.

    Yours in panic,

    Barstooler

    Hey there, all the manuals for all subjects can be found on 'taxfind'. If you log-on to the website and click into taxfind you'll see them there on the left hand side.
    Best of luck!! I've only just started but so far written a load of crap!! It's so flippin' hard to try and write something that makes sense!!


  • Closed Accounts Posts: 7 Barstooler


    Hey there, all the manuals for all subjects can be found on 'taxfind'. If you log-on to the website and click into taxfind you'll see them there on the left hand side.
    Best of luck!! I've only just started but so far written a load of crap!! It's so flippin' hard to try and write something that makes sense!!

    Thanks a million for that, really appreciate it. Ah "TaxFind"... I always wondered what that was, I presumed, for absolutely no good reason, it was just old journals, academic articles and mostly case law i.e. non-essential information for students. It's a poor reflection on me that I'm at Part 3 stage and never even clicked into it before... I'm an idiot :o! There's actually a lot of useful information there... if I ever get time to read it.

    Looks like I'll have fun tomorrow printing off the manuals. I'm hoping I figure out the "right" answer quickly enough (i.e. trade through a new UK company or not), and can then focus on backing up my answer - don't want to go wrong at that stage though and give a ton of reasons only to get it wrong.

    Not sure how much work/effort they expect. I mean the 35 page sample answer has to be excessive? It's 15%, of 1 exam. And we've our interm exam due two weeks after this deadline. What kind of references is everyone using and how much are you writing - haven't a clue?

    Thanks again for your help ScriptFan! Best of luck too.


  • Registered Users Posts: 129 ✭✭TheScriptFan


    Barstooler wrote: »
    Thanks a million for that, really appreciate it. Ah "TaxFind"... I always wondered what that was, I presumed, for absolutely no good reason, it was just old journals, academic articles and mostly case law i.e. non-essential information for students. It's a poor reflection on me that I'm at Part 3 stage and never even clicked into it before... I'm an idiot :o! There's actually a lot of useful information there... if I ever get time to read it.

    Looks like I'll have fun tomorrow printing off the manuals. I'm hoping I figure out the "right" answer quickly enough (i.e. trade through a new UK company or not), and can then focus on backing up my answer - don't want to go wrong at that stage though and give a ton of reasons only to get it wrong.

    Not sure how much work/effort they expect. I mean the 35 page sample answer has to be excessive? It's 15%, of 1 exam. And we've our interm exam due two weeks after this deadline. What kind of references is everyone using and how much are you writing - haven't a clue?

    Thanks again for your help ScriptFan! Best of luck too.

    No worries, I still don't really know how to use it...I keep changing my mind between the two...but think I have settled on subsidiary now as I think it'd be easier to sell and if he can use the 'Marks and Spencers' case to get loss relief that'd be better. Although it DOES say in the book that setting up a branch would be easier...urgh my main problem seems to be finding the correct references. Lavelle & Coleman have issued a good article on subs or branch which may help you if you google it. Haven't even started studying for CA...don't even have a clue what's on the paper. How I made it through last year I'll never know!! I think mine will come in at about 20 or so pages by the time I'm done and then the letter and step plan. Well better get back to it..need to finish in the next two days before my holidays!!


  • Registered Users Posts: 666 ✭✭✭Speckydodge


    No worries, I still don't really know how to use it...I keep changing my mind between the two...but think I have settled on subsidiary now as I think it'd be easier to sell and if he can use the 'Marks and Spencers' case to get loss relief that'd be better. Although it DOES say in the book that setting up a branch would be easier...urgh my main problem seems to be finding the correct references. Lavelle & Coleman have issued a good article on subs or branch which may help you if you google it. Haven't even started studying for CA...don't even have a clue what's on the paper. How I made it through last year I'll never know!! I think mine will come in at about 20 or so pages by the time I'm done and then the letter and step plan. Well better get back to it..need to finish in the next two days before my holidays!!

    Hi,
    I was thinking you could set up as a branch while loss making and change to a subsidiary in order to avail of CGT relief on subsidiary. For the change over I'm looking at Section 400.
    I mostly ref to the DTA as its really UK legislation for the majority of it. Are you doing a calculation in relation to CGT? I dont think its possible not known the costs of items individually. What do you think?? It maybe something they will look for??

    The part as to borrow through TBL or the sub, I know S.247 applies to borrowing through TBL but what is the section for the sub? Is it to do with the interest allowed as a trading expense or am I completly off the track?


  • Registered Users Posts: 129 ✭✭TheScriptFan


    Hi,
    I was thinking you could set up as a branch while loss making and change to a subsidiary in order to avail of CGT relief on subsidiary. Forr the change over I'm looking at Section 400.
    I mostly ref to the DTA as its really UK legislation for the majority of it. Are you doing a calculation in relation to CGT? I dont think its possible not known the costs of items individually. What do you think?? It maybe something they will look for??

    Yes I am going to do a CGT calc as an appendix. I know we don't the price of the items but we do know that the property is 9m of the 10m so will work from that. Although I don't know the CGT rate for the UK. Will have to look that up. Just to demonstrate the DTA credit.
    Can S400 apply if the subsidary is not in the state?

    Progress is very slow with me!


  • Registered Users Posts: 666 ✭✭✭Speckydodge


    Yes I am going to do a CGT calc as an appendix. I know we don't the price of the items but we do know that the property is 9m of the 10m so will work from that. Although I don't know the CGT rate for the UK. Will have to look that up. Just to demonstrate the DTA credit.
    Can S400 apply if the subsidary is not in the state?

    Progress is very slow with me!


    CGT in the UK is the same rate as CT 28%. Should we take it that its 12.5% cap allowance on the 9m? And would ya just take the base cost as 9m the other 1m for working cap and losses would not be included in the calculation from point of view of selling the shares??

    What is your view on the borrowing of money through tbl or branch

    Ohh stop, its unreal slow going.


  • Registered Users Posts: 129 ✭✭TheScriptFan


    CGT in the UK is the same rate as CT 28%. Should we take it that its 12.5% cap allowance on the 9m? And would ya just take the base cost as 9m the other 1m for working cap and losses would not be included in the calculation from point of view of selling the shares??

    EDIT - Just realized the 9m includes property so you can't really do the calc as how would you know what the property portion is versus plant and machinery so I think I will just put a narrative.

    What is your view on the borrowing of money through tbl or branch

    Ohh stop, its unreal slow going.

    i think the UK have a rule that you can write down 100,000 in the first year of plant and machinery (time apportioned if less than a year) and then 20% reducing balance thereafter. Yes I wouldn't include the 1m working cap.

    I'm at a bit of a loss for the borrowing of money. I would imagine it is better to borrow by the Irish Co. and lend to the UK, rather than borrow through UK subs but I'm finding it hard to back this up with anything. I don't see why you would borrow through a loss making subisidiary.What do you think?


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  • Registered Users Posts: 666 ✭✭✭Speckydodge


    i think the UK have a rule that you can write down 100,000 in the first year of plant and machinery (time apportioned if less than a year) and then 20% reducing balance thereafter. Yes I wouldn't include the 1m working cap.

    I'm at a bit of a loss for the borrowing of money. I would imagine it is better to borrow by the Irish Co. and lend to the UK, rather than borrow through UK subs but I'm finding it hard to back this up with anything. I don't see why you would borrow through a loss making subisidiary.What do you think?

    The way I'm looking at it, if you borrow through sub, you get a case I expense and if through TBL its S247.

    TBL will be allowed a reduction on all income and as its profit making will reduce the liability.

    The sub has losses to off set against profits and they may be losses.
    Thats the way i'm going bout it.


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