Registered AITI Tax Qualification Info and Questions

ramacc · 12-03-2011 8:09pm

lisagirl1 wrote: »

Like a few people above, I failed the exam & did well in the assignment. What % do we need to get from the summer exam now to pass the personal taxes? Tough trying to get into the study at the mo!

well 50% is a pass so depending on your assignment results the summer is marked out of 85 marks.

On the plus side there is now 15 minutes addiitonal reading time for all summer exams.

fergpie · 14-03-2011 7:59pm

Hi guys.

Im thinking of doing the AITI course. Was just wondering how a legal graduate would find switching codes to tax? IF anyone out there is the the same boat, how difficult did they find the course/exams?

I presume I would be exempt from the Law subject in the first year also?

Thanks!

whiz · 16-03-2011 8:56am

Hi guys, i have a question as regards the AITI Qualification, would there be many opportunities working aboard with this qualification ? Any reponses much appreciated.

Mr. Incognito · 16-03-2011 4:39pm

Law Graduates (like myself are exempt from the law exam. I did corporate law so was also exempt from accountancy part one)

Working abroad is trickier. You are being trained in the Irish tax system. While a lot of corporate tax is interchangeable and things like VAT travel well in the EU, Income tax does not.

Legend100 · 20-03-2011 6:13pm

was just wondering what people are doing for the vat exam at part 3, are ye looking at the entire manual or concentrating specifically on the part 3 material.

Exam papers seem to focus a bit more on the part 3 stuff but i dont wana leave myself short not covering the lot

TheScriptFan · 21-03-2011 12:13pm

Legend100 wrote: »

was just wondering what people are doing for the vat exam at part 3, are ye looking at the entire manual or concentrating specifically on the part 3 material.

Exam papers seem to focus a bit more on the part 3 stuff but i dont wana leave myself short not covering the lot

Hi Legend, I am looking at the entire manual, but mainly as I can't seem to remember anything from Part 2's!! Concentrating on Part 3 stuff and anything mentioned in class, but I find I have to keep referring back to Part 2 notes as I don't remember the details of the stuff. I guess that's the downside of cramming, you remember it for a short period of time only! I am trying to cover all the material before the revision course and then work on exam questions constantly for the three weeks I have off before the exams. that's my strategy anyway!! Very nervous about personal tax, having done so badly in the exam!

TheScriptFan · 21-03-2011 12:16pm

lisagirl1 wrote: »

Like a few people above, I failed the exam & did well in the assignment. What % do we need to get from the summer exam now to pass the personal taxes? Tough trying to get into the study at the mo!

Hi Lisa, same as me, you need 58% to pass the Summer, but you will probably have picked up a couple of percent at least even if you failed CA. It's so hard to come home after a days work and study!!

lisagirl1 · 22-03-2011 11:10am

TheScriptFan wrote: »

Hi Lisa, same as me, you need 58% to pass the Summer, but you will probably have picked up a couple of percent at least even if you failed CA. It's so hard to come home after a days work and study!!

Thanks for that Script! sure is hard to face into it after work...just have to keep reminding ourselves bout having the whole summer off if we get them first time round...makes the slogging a bit easier now

ramacc · 23-03-2011 10:13pm

lisagirl1 wrote: »

Thanks for that Script! sure is hard to face into it after work...just have to keep reminding ourselves bout having the whole summer off if we get them first time round...makes the slogging a bit easier now

does anyone know what the story is if you fail any of the continuous assessment linked exams in may do you just repeat the exam or assignments as well??

lisagirl1 · 25-03-2011 11:38am

ramacc wrote: »

does anyone know what the story is if you fail any of the continuous assessment linked exams in may do you just repeat the exam or assignments as well??

As far as i know, if you fail your continuous assessment stands & you just repeat the exam. you should email miriam for confirmation tho, just to be on the safe side!

soft landing · 25-03-2011 12:37pm

Hi all,

Im sure there are a few people who have passed accountancy exams in the past that have done (or are doing) the tax exams.

How do the two courses compare in terms of difficulty. Obviously they are 2 different exams so the answer is not clear cut but would you say one is way more difficult or they are a similar difficulty?

I am ACA qualified and thinking about doing them. The fear of failure is all that is holding me back!

Thanks

Legend100 · 25-03-2011 6:06pm

the tax exams are much more theory based than what you do in the ACA exams. (did my FAE in 2009)

The focus in the tax exams is more on the legislation rather than the mechanics of a tax comp but there is a good bit of stuff that goes well beyond the scope of the FAE especially at part 3 where international tax issues are a big part of the personal tax course

The exams are tough....il tell you just how tough when the part 3's are over in May (the lack of study leave is the killer thing compared to what you get when doing ACA)

if you are interested in tax, i think it is a very good course as it gives you a much greater understanding of tax than is taught in the ACA course. Rather than having one tax exam per year you will have four and they are each in a particular tax so you can imagine the depth of material to be covered is much more than you do in the ACA but you will still have a very good base as there will be a lot of stuff at part 2 that you will have covered before. The capital paper is almost all what you cover at FAE with the exception of the laws of intestacy which wasnt on my FAE course. (i know the FAE has changed considerably with the intro of the tax module for the new FAE which covers alot more than the old FAE)

Hope that helps!

soft landing · 25-03-2011 6:29pm

Thanks for the reply legend. I passed in Fae 2009 too and swore at the time that id never do another exam if I passed them! I'll probably do them though as I will use them given the route I am going down.

Good luck in May

ID@THEWIDOWS · 29-03-2011 2:50pm

Hi All,

I am just wondering about the tax exams with the AITI. I have just completed an LLB and have been working in a Legal Firm for the past four months.

I have a few questions about the exams. Would there be a huge element of maths to taxation ie equation and formulas. To be honest I have not been great at maths in school but was quite good at accountancy. I also got a good 2.1 law degree so I should be able to face the course.

Any advice and or info that you may have would be great.

Mr. Incognito · 01-04-2011 4:35pm

I'm a law head with the Tax exams- they dovetail quite well.

Their isn't a huge amount of computations tbh. More legal analysis of certain sections.

I think they suit a law graduate more than an accountancy one tbh.

TheScriptFan · 04-04-2011 8:47am

Hi Part 3's,

How is everyone doing? How is your studying going?

Just wondering how much 'extra reading' if any, people are doing? I'm in a bit of a panic as have so so much to do!!

TSF

Blooming · 04-04-2011 9:34pm

Hey guys,

Hope study is going well for everyone.

Starting part 2 exams on Monday. I was exempt from part 1 so new to these exams. What is the story with tabbing your legislation? I write a bit on mine such as cross referencences but just saw in exam regulations that this isn't allowed. Did you just write couple of words or are ye like me trying to copy manual onto tiny tab note:D

Would die if they took my legislation on day of exam cos I have so much underlined and highlighted too.

Thanks for any advice.

TheScriptFan · 05-04-2011 12:47pm

Blooming wrote: »

Hey guys,

Hope study is going well for everyone.

Starting part 2 exams on Monday. I was exempt from part 1 so new to these exams. What is the story with tabbing your legislation? I write a bit on mine such as cross referencences but just saw in exam regulations that this isn't allowed. Did you just write couple of words or are ye like me trying to copy manual onto tiny tab note:D

Would die if they took my legislation on day of exam cos I have so much underlined and highlighted too.

Thanks for any advice.

Hi Blooming - no cross referencing allowed, you can only write the section no. and title of section as far as I know. Do not write anything on your leg either.
Best of luck!! x

Legend100 · 10-04-2011 3:42pm

Best of luck to all the Part 2's this week, can't believe that was a year ago already!:)

pigeonbutler · 11-04-2011 1:09pm

TheScriptFan wrote: »

Hi Lisa, same as me, you need 58% to pass the Summer, but you will probably have picked up a couple of percent at least even if you failed CA. It's so hard to come home after a days work and study!!

I think this 58% (58.8 to be precise!) number only applies to someone who got 0% in CA. In which case they need to get 50 marks from remaining 85.

Someone who got say 40% in CA only needs 44 marks from remaining 85 - i.e. 52%

Confused99 · 13-04-2011 10:03am

TheScriptFan wrote: »

Hi Part 3's,

How is everyone doing? How is your studying going?

Just wondering how much 'extra reading' if any, people are doing? I'm in a bit of a panic as have so so much to do!!

TSF

Hi guys, There is just so much to get through -I'm doing very little further reading - don't have the time. Are ye doing much pre reading of earlier Parts???

Just wondering how much of the law manual we need to know at part 3 level since we don't have a specific exam on it? Are ye reading the entire book? Thanks

TheScriptFan · 13-04-2011 4:25pm

Confused99 wrote: »

Hi guys, There is just so much to get through -I'm doing very little further reading - don't have the time. Are ye doing much pre reading of earlier Parts???

Just wondering how much of the law manual we need to know at part 3 level since we don't have a specific exam on it? Are ye reading the entire book? Thanks

Hey there, I have not opened the law manual once. I guess i will have to at some stage but am still going through the other manuals. Was hoping to be finished by Fri, but not going to happen.
As for doing pre-reading, if it says - you covered this in your part 2/1 and I don't remember what it is, then I'm going back and revising it. Otherwise just don't have time to go through it all again!

Gary7 · 14-04-2011 4:49pm

Hi all, long time reader, first time poster.

am repeating part 3 this summer. my manuals are all 2009/2010, as the exams i sat were in august and these were the ones sent to me.

I was wondering if i should purchase the 2010/2011 manuals, or is there any need? I assume there isn't a huge difference in the content.?

Any advice would be appreciated

Legend100 · 14-04-2011 5:34pm

Can you get onto Taxfind as all the manuals are there if you can

TheScriptFan · 14-04-2011 8:03pm

Gary7 wrote: »

Hi all, long time reader, first time poster.

am repeating part 3 this summer. my manuals are all 2009/2010, as the exams i sat were in august and these were the ones sent to me.

I was wondering if i should purchase the 2010/2011 manuals, or is there any need? I assume there isn't a huge difference in the content.?

Any advice would be appreciated

There aren't a huge amount of changes but typically any changes are the ones that'd be examined. As suggested look up taxfind as they are all there.

Gary7 · 16-04-2011 12:49pm

Hi guys, thanks for the responses. If the changes are minimal it probably isn't worth the price of new manuals. Only issue with Tax find is, because I'm repeating, I can't seem to access it, assume this is cos I only paid exam fees this time. Seems harsh, especially when I was doing CA.

Thanks again

Marz66 · 16-04-2011 6:55pm

Gary7 wrote: »

Hi guys, thanks for the responses. If the changes are minimal it probably isn't worth the price of new manuals. Only issue with Tax find is, because I'm repeating, I can't seem to access it, assume this is cos I only paid exam fees this time. Seems harsh, especially when I was doing CA.

Thanks again

Hi Gary7

If I were you, I'd ring the institute and ask if you can have access to the manuals as there are a few things that changed.

One major change I can think of is that in VAT, the place of supply of services rules have changed and the lecturer mentioned that they could be asked. There's also new transfer pricing rules in Business taxes, though i think myself that wouldn't be a full question.

If you like, i could send you those 2 chapters (can pdf them from Tax Find) but like i said, you'd be better getting your own copy of the manual because there could be other changes that I'm not thinking of. Good luck:)

lisagirl1 · 18-04-2011 12:30pm

What did people think of the revision courses? poor enough in cork, panic starting to set in again!

wgk · 18-04-2011 3:43pm

Im based in Dublin and found the vat guy brilliant, income tax was also good as the guy seemed to a knowledge of what goes on beyond the scenes when it comes to setting the exam, found the others so so. CT focused purely on exam papers, which for me was a bit premature as I'm still trying to get through manuals!

smurifit · 18-04-2011 7:36pm

didnt get a chance to make the revision course at the wknd...anyone able to post up any of the key points in the income tax lecture? cheers

TheScriptFan · 19-04-2011 10:06am

smurifit wrote: »

didnt get a chance to make the revision course at the wknd...anyone able to post up any of the key points in the income tax lecture? cheers

Restriction of relief for high earners
Double tax relief
learn contents of stmt of practice 1/2/3
Revenue concess. for people sent here on ST
Taxation of Share option for mobile workers
Subsistence exp
15% of paper will be CAT & SD
Revise CAT & SD for trusts/retirement relief & Marital breakdown
Pensions
Look at tax briefings up to last June
Domicile Levy
Income levy has made PRSI and HC more relevant, don't ignore.
Stuff in Finance act: Abolition of remittance basis for Irish Dom. S825B extended to EU, Higher earners rest amended; S811 amended, Domicile levy
Trusts - Domestic & offshore
S806(10) what is a bona fide commerical trans
Convertible Securities
Earnouts (ascertainable V unascertainable. Read Marren V Ingles
Options - CGT
What happens to your pension if you lose your job

Stuff she defo thinks is on paper:

Residence
Trusts
Shares
Pensions

Blooming · 19-04-2011 3:00pm

Did anyone recieve tax relief for tuition fees for this course? I have to pay for it myself so I was hoping to get tax relief but my application to Revenue was rejected. They said the course/college has to be on the approved list. I was going to appeal but am I wasting my time?:(

Will make paying for Part 3 (if I pass part 2

) even more difficult!!

Legend100 · 19-04-2011 6:46pm

The course doesn't qualify. It is specifically stated in the ITI handbook.

Could really use that tax refund!!

sbffbs · 20-04-2011 4:08pm

TheScriptFan wrote: »

Hey there, I have not opened the law manual once. I guess i will have to at some stage but am still going through the other manuals. Was hoping to be finished by Fri, but not going to happen.
As for doing pre-reading, if it says - you covered this in your part 2/1 and I don't remember what it is, then I'm going back and revising it. Otherwise just don't have time to go through it all again!

Hi, Just scrolling down through Part 3 comments and I see a mention of a law manual, I did the course 2 years ago but never sat the exams, this time around I took all material off the website, whats this of a law manual? I didn't get this back in 2008/2009 - maybe this is the legislation for the different taxes, is it? Any clarity much appreciated!! Thanks

sbffbs · 20-04-2011 4:09pm

Blooming wrote: »

Did anyone recieve tax relief for tuition fees for this course? I have to pay for it myself so I was hoping to get tax relief but my application to Revenue was rejected. They said the course/college has to be on the approved list. I was going to appeal but am I wasting my time?:(

Will make paying for Part 3 (if I pass part 2 ) even more difficult!!

I got tax relief with the Revenue for this course at both Part 2 and Part 3 - go back and try again is my advice!

lisagirl1 · 20-04-2011 4:14pm

sbffbs wrote: »

I got tax relief with the Revenue for this course at both Part 2 and Part 3 - go back and try again is my advice!

Really?? how did you get the relief? did you just write to Revenue or is there a form?

sbffbs · 20-04-2011 4:31pm

There's a form for tuition fees that you fill out - look up revenue.ie - think I may have had to submit the Part III one twice, that was 2 years ago now so maybe they've gotten a bit more strict on courses they give relief on. For definite though, the AITI course was not on a specific list at the time I applied for the relief. Best of luck

lisagirl1 · 20-04-2011 4:59pm

sbffbs wrote: »

There's a form for tuition fees that you fill out - look up revenue.ie - think I may have had to submit the Part III one twice, that was 2 years ago now so maybe they've gotten a bit more strict on courses they give relief on. For definite though, the AITI course was not on a specific list at the time I applied for the relief. Best of luck

Thanks a mil for that, worth a try anyway isnt it!

Legend100 · 20-04-2011 5:31pm

sbffbs wrote: »

Hi, Just scrolling down through Part 3 comments and I see a mention of a law manual, I did the course 2 years ago but never sat the exams, this time around I took all material off the website, whats this of a law manual? I didn't get this back in 2008/2009 - maybe this is the legislation for the different taxes, is it? Any clarity much appreciated!! Thanks

The law manual was introduced this year and covers all parts. It is an overview of various parts of the law. I don't think it is that important to be honest, there are one or two chapters that are part of the advanced business taxes course but they are quite short.

It is on taxfind if you can get into it

ascuteasabutton · 21-04-2011 10:12am

Just wondering if anyone is in the same situation. I completed Part 1 exams in April and Registered for Part 2 Summer Course but I was checking dates and the Part 2 CA Home Assignment is due before the results of the Part 1 exams are out.How does this work if you are unlucky enough to fail Part 1 and have wasted time completing Part 2 CA as this can't be carried forward to next year??

I don't really want to put in that amount of work for the Part 2 CA if i've failed Part 1 and will have to do it all again next year...

Anybody else in the same position???

lisagirl1 · 21-04-2011 10:59am

TheScriptFan wrote: »

Restriction of relief for high earners

Double tax relief

learn contents of stmt of practice 1/2/3

Revenue concess. for people sent here on ST

Taxation of Share option for mobile workers

Subsistence exp

15% of paper will be CAT & SD

Revise CAT & SD for trusts/retirement relief & Marital breakdown

Pensions

Look at tax briefings up to last June

Domicile Levy

Income levy has made PRSI and HC more relevant, don't ignore.

Stuff in Finance act: Abolition of remittance basis for Irish Dom. S825B extended to EU, Higher earners rest amended; S811 amended, Domicile levy

Trusts - Domestic & offshore

S806(10) what is a bona fide commerical trans

Convertible Securities

Earnouts (ascertainable V unascertainable. Read Marren V Ingles

Options - CGT

What happens to your pension if you lose your job

Stuff she defo thinks is on paper:
Residence

Trusts

Shares

Pensions

Jesus Script thats some daunting list!! anyone have a similar list for business taxes re changes in FA 10 or topical material? any help much appreciated

ramacc · 27-04-2011 11:10pm

lisagirl1 wrote: »

Jesus Script thats some daunting list!! anyone have a similar list for business taxes re changes in FA 10 or topical material? any help much appreciated

Hi folks hows the studying going with everyone

Legend100 · 28-04-2011 2:20pm

Only finished up from work yesterday so only hitting the books hard from today

Hopefully have all the manuals done by sunday and then 2 weeks of papers id say:)

smurifit · 29-04-2011 2:21pm

just gettin into the exam papers these days...some of them are brutal hard! dont know how im going to pass them all!! any major areas we should be lookin at for business taxes? anything mentioned at the revision lectures?

heffelump · 30-04-2011 4:28pm

Only starting study leave today and the Personal tax seems impossible. Any advice on the best way to approach it? :eek::eek::eek:

dudyi · 30-04-2011 10:17pm

can you claim an input credit for advaced payment..

eg. advanced payment to a supplier for a reduced rate service not yet completed, payment made 100,000.

how do u treat that.. please help?

TheScriptFan · 02-05-2011 3:12pm

heffelump wrote: »

Only starting study leave today and the Personal tax seems impossible. Any advice on the best way to approach it? :eek::eek::eek:

I am just giong over the manuals, highlighted all the relevant sections in legis. & doing questions.
It's difficult as the results of the CA on a whole were so bad who knows where they'll go with this! Good luck!

jarvis_c82 · 03-05-2011 4:23pm

Hi,

I'm a repeat student and I've only got Personal and Indirect Taxes to do. What was said at the revision recently for Indirect Taxes.

Cheers and good luck to everyone.

Legend100 · 04-05-2011 11:14am

Caselaw seems to come up in VAT every year so i did a short summary of the cases in the manual if anyone wants it

ramacc · 04-05-2011 11:29am

Hi All - well going topical should be supply of cross broder services and travel agent margin scheme.

In relation to Prof tax advice and ethics all the past paper solutions for the case study (first q) do not have any legislative reference can you get away with this for ethics?

Registered AITI Tax Qualification Info and Questions

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