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Working in Tax

Hello Guys,

Just looking for a bit of advice on future opportunities and whether I will be limited in what I can do.

Currently working at a mid-tier firm in Tax. Will be doing ATT and hopefully finish next May, after that the firm expects you to do CTA.

I did an accounting degree and would like to know how easy or hard it is to move from tax to other service lines such as Accounts Prep or Corporate Finance later on. I would like to do a more general qualification such as ACCA or ACA and work in other areas of accountancy and not just limit myself to tax.

When is the best time to try and move to other service lines? Immediately (although this is unlikely as I have only just started the job), after ATT or even after CTA (will it be too late by then to move out of tax?)

The only reason I am asking this is because I have read on here and elsewhere that those working in tax can become stuck in it and it can be difficult to move out of it later on. I'm not too sure what area I want to be working in and would like to keep my options open.

Any advice is much appreciated :smile:

Thanks
If you want to move out of tax then don't do CTA. This is a highly-specialised, tax-specific qualification and by definition makes you a tax specialist.

I'd suggest trying to do ACCA, ACA or even CIMA after your ATT as they will offer you a bit more flexibility in the future.
Reply 2
Thanks for the reply.

So I should only do CTA if I want to stay in tax long term.

What are my chances of changing service lines within the firm after doing ATT, I would have 18 months experience in corporate tax by then. Would the experience be enough to move and do ACCA, ACA or CIMA as you suggest. What sort of roles would I be looking at? Would it be graduate or experienced hire levels I should aim for?
It might be better to train in a broader area first (ACA/CIMA) and then move to a more specialist role as you'll have more opportunities available to you, plus something broad to fall back on.
Reply 4
Original post by snakesnake
It might be better to train in a broader area first (ACA/CIMA) and then move to a more specialist role as you'll have more opportunities available to you, plus something broad to fall back on.


I have only just started this job in tax in January this year, would you recommend I look to move now then to something that offers ACA/CIMA or should I complete ATT here then look to move out? I shoud have completed ATT by May next year.
Original post by ms 12345
I have only just started this job in tax in January this year, would you recommend I look to move now then to something that offers ACA/CIMA or should I complete ATT here then look to move out? I shoud have completed ATT by May next year.


Well if you're already working, I think you might as well complete it and then see where you want to move from there.
Reply 6
Original post by snakesnake
Well if you're already working, I think you might as well complete it and then see where you want to move from there.


Thanks, by completing ATT and working in tax for 18 months, will I be limiting my chances of going into a role that offers ACA/CIMA or is that only if i do CTA and stay here for 3 years?
Reply 7
Original post by ms 12345
Thanks, by completing ATT and working in tax for 18 months, will I be limiting my chances of going into a role that offers ACA/CIMA or is that only if i do CTA and stay here for 3 years?


You will be stuck in tax if you do CTA, a top 10 firm tried to trick me into joining them by telling me I would do ACA only for the partner at the final interview to say it was ATT/CTA.
Reply 8
Original post by Tbx
You will be stuck in tax if you do CTA, a top 10 firm tried to trick me into joining them by telling me I would do ACA only for the partner at the final interview to say it was ATT/CTA.


What about if I only do ATT, will I be able to get a job that offers ACA/CIMA? That's my main worry at the moment.. Obviously if I enjoy tax and want to stay in it long term I will do CTA, but as i've only just started I want to make sure I am not limiting future opportunities by doing just ATT and working in corporate tax for around 18 months.
Reply 9
Original post by ms 12345
What about if I only do ATT, will I be able to get a job that offers ACA/CIMA? That's my main worry at the moment.. Obviously if I enjoy tax and want to stay in it long term I will do CTA, but as i've only just started I want to make sure I am not limiting future opportunities by doing just ATT and working in corporate tax for around 18 months.


No harm in staying and applying for jobs and applying for ACA/CIMA, of you find one then jump ship, if not then stay in tax.

It depends on what you want in the future, personally I would complete ACA then complete CTA, as ACA is very versatile and would open many doors, so if I even wanted to leave tax then I could.
Reply 10
Original post by Tbx
No harm in staying and applying for jobs and applying for ACA/CIMA, of you find one then jump ship, if not then stay in tax.

It depends on what you want in the future, personally I would complete ACA then complete CTA, as ACA is very versatile and would open many doors, so if I even wanted to leave tax then I could.


Thank you.

Yeah i'd like to keep my options open so looks like doing ACA or even ACCA should be a priority after the ATT.
Hey guys, I've read a lot about att/cta pathway but never contributed into conversation before. So let me rectify it . I started studying for att/cta a while ago as part of my employment contract. I did the first part of qualification relatively quickly and thought that I won't have much of a problem passing CTA either. How wrong was I 😂. I jumped into CTA as soon as I passed att exams . At first, I did everything by the book. I planned to pass OMB in the first 6 months, so I studied at least 20 hours a week, every week for half a year. I was exhausted. I was mortified with marginal fail but I ended up trying again and again as my marks were considered to be relatively high. The CTA was in my life for a good few years, lookign back I shall say a few miserable and depressing years. With that much of study commitment, I was deprived of sleep, annual leave and freedom. My relationship 💔and personal confidence were on its knees after 3 CTA failures in the row. When I saw the results from my last sit I cried for 3 days 😢. All this time spent, all sunk costs, sleepless nights, lots of coffee and chocolate was for nothing. Oh wow. Then the idea came to my head-: " what if I switch to chartered accountancy route ?". I doubted this idea a lot given how many exams are there to do! But nenverless, like they say: a walk of 1,000 miles starts with the first step. So I've made the first step! I flew through the first 9 exams I loved it! Every moment of it). I found accountancy papers so muchbmore interesting, broad and rewarding. Rewarding because, unlike with cta, with accountancy exams if you study hard and put in the effort you will pass! I passed by just studying at home during pandemic, with no tuition, but huge consistency. I then decided to move out of tax into general practice and I never looked back). General practice experience opens up so many more doors starting from lucrative industry jobs all the way to international secondments! . For a person who never quits quiting tax was the best I've done in the last 5 years
(edited 1 year ago)
Original post by IsabelIN
Hey guys, I've read a lot about att/cta pathway but never contributed into conversation before. So let me rectify it . I started studying for att/cta a while ago as part of my employment contract. I did the first part of qualification relatively quickly and thought that I won't have much of a problem passing CTA either. How wrong was I 😂. I jumped into CTA as soon as I passed att exams . At first, I did everything by the book. I planned to pass OMB in the first 6 months, so I studied at least 20 hours a week, every week for half a year. I was exhausted. I was mortified with marginal fail but I ended up trying again and again as my marks were considered to be relatively high. The CTA was in my life for a good few years, lookign back I shall say a few miserable and depressing years. With that much of study commitment, I was deprived of sleep, annual leave and freedom. My relationship 💔and personal confidence were on its knees after 3 CTA failures in the row. When I saw the results from my last sit I cried for 3 days 😢. All this time spent, all sunk costs, sleepless nights, lots of coffee and chocolate was for nothing. Oh wow. Then the idea came to my head-: " what if I switch to chartered accountancy route ?". I doubted this idea a lot given how many exams are there to do! But nenverless, like they say: a walk of 1,000 miles starts with the first step. So I've made the first step! I flew through the first 9 exams I loved it! Every moment of it). I found accountancy papers so muchbmore interesting, broad and rewarding. Rewarding because, unlike with cta, with accountancy exams if you study hard and put in the effort you will pass! I passed by just studying at home during pandemic, with no tuition, but huge consistency. I then decided to move out of tax into general practice and I never looked back). General practice experience opens up so many more doors starting from lucrative industry jobs all the way to international secondments! . For a person who never quits quiting tax was the best I've done in the last 5 years


Hi, please can I ask a question. What route did you go down following ATT. I have recently started my ATT studies with a company who offers the ATT/CTA pathway and now I’ve seen about the ACA/CTA and think I’ve made a mistake…

What qualifications did you go on to do after ATT and how long did it take you? Thank you so much :smile:
Original post by ms 12345
Hello Guys,

Just looking for a bit of advice on future opportunities and whether I will be limited in what I can do.

Currently working at a mid-tier firm in Tax. Will be doing ATT and hopefully finish next May, after that the firm expects you to do CTA.

I did an accounting degree and would like to know how easy or hard it is to move from tax to other service lines such as Accounts Prep or Corporate Finance later on. I would like to do a more general qualification such as ACCA or ACA and work in other areas of accountancy and not just limit myself to tax.

When is the best time to try and move to other service lines? Immediately (although this is unlikely as I have only just started the job), after ATT or even after CTA (will it be too late by then to move out of tax?)

The only reason I am asking this is because I have read on here and elsewhere that those working in tax can become stuck in it and it can be difficult to move out of it later on. I'm not too sure what area I want to be working in and would like to keep my options open.

Any advice is much appreciated :smile:

Thanks

ACCA will give you a broad understanding in different areas of Accountancy. I would speak to your employer, as some are very supportive and even willing to pay for their students when they start their course with ACCA.

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