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Registered AITI Tax Qualification Info and Questions

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Comments

  • Registered Users Posts: 23 ramacc


    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.


  • Registered Users Posts: 261 ✭✭fergpie


    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!


  • Registered Users Posts: 423 ✭✭whiz


    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.


  • Registered Users, Registered Users 2 Posts: 9,798 ✭✭✭Mr. Incognito


    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.


  • Registered Users, Registered Users 2 Posts: 736 ✭✭✭Legend100


    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


  • Registered Users Posts: 129 ✭✭TheScriptFan


    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!


  • Registered Users Posts: 129 ✭✭TheScriptFan


    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!!


  • Registered Users Posts: 8 lisagirl1


    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 :)


  • Registered Users Posts: 23 ramacc


    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??


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  • Registered Users Posts: 8 lisagirl1


    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!


  • Registered Users Posts: 13 soft landing


    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


  • Registered Users, Registered Users 2 Posts: 736 ✭✭✭Legend100


    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!


  • Registered Users Posts: 13 soft landing


    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


  • Closed Accounts Posts: 51 ✭✭ID@THEWIDOWS


    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.


  • Registered Users, Registered Users 2 Posts: 9,798 ✭✭✭Mr. Incognito


    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.


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  • Registered Users Posts: 129 ✭✭TheScriptFan


    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


  • Registered Users Posts: 49 Blooming


    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.


  • Registered Users Posts: 129 ✭✭TheScriptFan


    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


  • Registered Users, Registered Users 2 Posts: 736 ✭✭✭Legend100


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


  • Registered Users, Registered Users 2 Posts: 666 ✭✭✭pigeonbutler


    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%


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  • Closed Accounts Posts: 11 Confused99


    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


  • Registered Users Posts: 129 ✭✭TheScriptFan


    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!


  • Registered Users Posts: 13 Gary7


    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


  • Registered Users, Registered Users 2 Posts: 736 ✭✭✭Legend100


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


  • Registered Users Posts: 129 ✭✭TheScriptFan


    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.


  • Registered Users Posts: 13 Gary7


    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


  • Registered Users, Registered Users 2 Posts: 367 ✭✭Marz66


    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:)


  • Registered Users Posts: 8 lisagirl1


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


  • Registered Users Posts: 66 ✭✭wgk


    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!


  • Closed Accounts Posts: 42 smurifit


    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


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  • Registered Users Posts: 129 ✭✭TheScriptFan


    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:
    1. Residence
    2. Trusts
    3. Shares
    4. Pensions


  • Registered Users Posts: 49 Blooming


    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 :o) even more difficult!!


  • Registered Users, Registered Users 2 Posts: 736 ✭✭✭Legend100


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

    Could really use that tax refund!!


  • Closed Accounts Posts: 3 sbffbs


    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


  • Closed Accounts Posts: 3 sbffbs


    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 :o) 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!


  • Registered Users Posts: 8 lisagirl1


    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?


  • Closed Accounts Posts: 3 sbffbs


    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


  • Registered Users Posts: 8 lisagirl1


    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! :)


  • Registered Users, Registered Users 2 Posts: 736 ✭✭✭Legend100


    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


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  • Registered Users Posts: 199 ✭✭ascuteasabutton


    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...:confused:

    Anybody else in the same position???


  • Registered Users Posts: 8 lisagirl1


    • 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:
    1. Residence
    2. Trusts
    3. Shares
    4. 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


  • Registered Users Posts: 23 ramacc


    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


  • Registered Users, Registered Users 2 Posts: 736 ✭✭✭Legend100


    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:)


  • Closed Accounts Posts: 42 smurifit


    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?


  • Registered Users Posts: 21 heffelump


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


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  • Registered Users Posts: 3 dudyi


    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?


  • Registered Users Posts: 129 ✭✭TheScriptFan


    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!


  • Registered Users, Registered Users 2 Posts: 89 ✭✭jarvis_c82


    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.


  • Registered Users, Registered Users 2 Posts: 736 ✭✭✭Legend100


    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


  • Registered Users Posts: 23 ramacc


    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?


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