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AITI, CTA or Diploma in Tax?

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  • 03-06-2020 12:14pm
    #1
    littlemiss123
    Registered Users Posts: 452 ✭✭


    I am a qualified chartered accountant (since 2014) and looking to move more towards a career in tax/consultancy in the SME sector. To date, I have worked in the financial services industry.

    Should I start with a Diploma in Tax, or take the plunge and go straight for the AITI Chartered Tax Advisor/ ACA Chartered Tax Consultant qualification?

    The Diploma in Tax would obviously be a great refresher (I sat the ACA Tax Elective in 2014 and haven't used it since) and much less onerous that the CTA/CTC qualification. However, with the cost (approx. €2,000) and the time (approx. 6-8 months) - is it better spent towards the CTA/CTC qualification as I could essentially complete half of the exams for almost the same time and money? (I would qualify for full exemption from Part 1 of either the CTA/CTC qualification).

    My concern with jumping straight into an CTA/CTC qualification is that my current knowledge is quite rusty and I would be concerned about jumping straight into Part 2 of the exams without a refresher? Also, I will probably be in my current job for the next 6-12 months and not utilising the knowledge just yet - would this be a waste? I assume having the CTA/CTC qualification will make me much more attractive to a potential employer (willing to take a punt on my coming from a different industry) than the Diploma?

    So my questions:
    * Tax diploma or CTA/CTC?
    * AITI CTA or ACA CTC (think I'd be leaning towards AITI CTA as the longer-standing industry standard)?
    * How "advanced" is Part 2 of the AITI CTA exams? Would I be out of my depth starting here?


Comments

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    #2
    Calahonda52
    Registered Users Posts: 12,193 ✭✭✭✭Calahonda52


    as an FCA, the ACA one is not proven in the field.
    The AITI is the gold standard, as is, IMHO, the ACA :)
    As for being too hard/out of your depth: get off it, look in the mirror and acknowledge yourself for who you are and get on with it. :)

    “I can’t pay my staff or mortgage with instagram likes”.



  • Options
    #3
    littlemiss123
    Registered Users Posts: 452 ✭✭littlemiss123


    Calahonda52 wrote: »
    as an FCA, the ACA one is not proven in the field.
    The AITI is the gold standard, as is, IMHO, the ACA :)
    As for being too hard/out of your depth: get off it, look in the mirror and acknowledge yourself for who you are and get on with it. :)

    Thanks Calahonda - I think I was leaning towards AITI for the same reasons, if you're going to spend the money and make the effort, better to go for gold!

    Think I just need to "get on with it" as you say and stop over thinking :)


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    #4
    Vaioer
    Registered Users Posts: 96 ✭✭Vaioer


    Interesting thread.

    Considering the same myself - qualified since 2012, but haven't practiced any type of accountancy since 2014.

    Happy out in my current role, but have always had an interest in the tax side - even though I have never practiced it, and it wasn't my elective.

    Like you LM, was looking at the varying options - thinking about the Tax Institute ones.

    Deadlines seem out of date on their site, do you know when the next one starts?


  • Options
    #5
    littlemiss123
    Registered Users Posts: 452 ✭✭littlemiss123


    Vaioer wrote: »
    Interesting thread.

    Considering the same myself - qualified since 2012, but haven't practiced any type of accountancy since 2014.

    Happy out in my current role, but have always had an interest in the tax side - even though I have never practiced it, and it wasn't my elective.

    Like you LM, was looking at the varying options - thinking about the Tax Institute ones.

    Deadlines seem out of date on their site, do you know when the next one starts?

    I spoke to the Tax Institute yesterday, it is possible to still register and sit the exams in December 2020 (7th - 10th I think). She said they would recommend registering before July 1st in order to ensure I don’t miss out too much. As I would be looking at going straight into Part 2, she said the only issue is the Professional Skills assignment that was released 2 weeks ago and is due in 2 weeks. As I would have missed that I would have to complete it with the second sitting which would mean the assignment would be due on 14th December, the week after the exams. It would be a bit rough trying to do all together but at least I’d be prepared for it.

    So right now...I’m in overthinking stage, will I, won’t I, advantages, disadvantages!! Think I just need to register and get on with it!


  • Options
    #6
    Vaioer
    Registered Users Posts: 96 ✭✭Vaioer


    Thanks for the update - good to know.

    I looked at the dates yesterday and couldn't really understand them.

    Yeah, I'm deliberating between them as well.

    Like yourself - would be going into Part 2 so that would be a lot to take on.


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  • Options
    #7
    Calahonda52
    Registered Users Posts: 12,193 ✭✭✭✭Calahonda52


    littlemiss123 wrote: »

    Think I just need to register and get on with it!

    :) indeed,
    Just take the actions to register and then you are enrolled on the project and you know whats what.
    .
    Shut off that inner voice saying: but what about this that these and those?
    This voice is not you, its not real, we have it from day one when man looked out of the cave and said: eat or be eaten.
    It's tough to do initially but once you realise its there and then that it is not you that is saying all the pros and cons you are on a roll.

    “I can’t pay my staff or mortgage with instagram likes”.



  • Options
    #8
    littlemiss123
    Registered Users Posts: 452 ✭✭littlemiss123


    Just to go off topic a bit...has anyone moved into a tax role after approx. 10 years experience as an accountant within a different sector? Was it hard to convince employers to take a punt? I have sent out my CV a few times but no takers so far.


  • Options
    #9
    Calahonda52
    Registered Users Posts: 12,193 ✭✭✭✭Calahonda52


    littlemiss123 wrote: »
    Just to go off topic a bit...has anyone moved into a tax role after approx. 10 years experience as an accountant within a different sector? Was it hard to convince employers to take a punt? I have sent out my CV a few times but no takers so far.

    The issue with replying to ads that look for tax experience is that you don't have it, so once you have it under your belt, or even while doing it, talk to people, reach out to folk on Linked In etc and get out there.
    IMO, the days of blind hires off CVs is gone.
    My last two jobs were done this way.

    I trust you know why the accountant became an actuary?
    Accounting was too exciting:D

    Keep safe and well and good luck

    “I can’t pay my staff or mortgage with instagram likes”.



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