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Potential Tax Advisors. Info on ATT-CTA

Don’t ever do the route Backgrounds:

Under ATT/CTA route, you do three ATT paper exams and 2 computerised ethnics and law exams. Under CTA, you have 4 paper exams to do and you don’t have to do the computerised exams. The CTA papers are split into four papers: 1 Awareness, 2 Advisory papers and 1 Application paper. If you do the ACA or ACCA, you don’t have to do the ATT qualification before starting the CTA. You will also have exemption of the Application paper, but you will have to do the computerised exams.

So, what is the problem?

The problems are:

1. ATT is not a chartered qualification. The ATT exams are doable and I would say they are on Par with some of the late foundation level exams.

2. CTA on the other hand is very very difficult. It is a respected qualification, but they are often seen as equal if not a bit worst than the ACCA/ACA qualification. Furthermore as a CTA, you will be typecast into Tax and will not be able to move around in the finance industry very well.

3. ACCA/ACA get the exemption on the final, most difficult exam and they don’t have to do the ATT qualification.

4. The worst thing about doing the ATT/CTA is that you have to do the Application paper. It is the most ******** exams you will ever do. Not only it is much much more difficult than anything in ACCA/ACA, it is also VERY random.

i. The application paper will require you to study a vast amount of study material, probably a few thousand pages. The paper may test you up to 20 pages of the material. The exam is closed book.

ii. The paper expect lots of details but at the same time it is very time pressured. It is also sometimes drafted in such a way it obscures what the tax issues are.

iii. Because of the above, even Tolleys and Kaplan have said it is absolutely impossible to get all the points down in the three hours provided. So the course providers tends to provide an ideal answer and a realistic answer in their revision courses.

iv. The examiners also have no idea what they want. Traditionally they want the candidates to give indepth advice. But last year, they want indepth calculations with little opportunity to advise. In the examiner report in the same year, they still wanted advice, but it is obvious that it is not possible with so much computation!

5. As a CTA, if you want to do the accountancy qualification, you will only get exemption from the foundation level tax exams.

O, that seems bad, why would they do that?

1. Why do they give ACCA/ACA exemption for the final exam? – Simple. Fees. They want more paying members from ACA and ACCA

2. Why don’t they give ATT exemption for the final exam? – Well, how would they be able to tell people that it is a difficult qualification.

3. Why couldn’t they get better exemption for ACCA/ACA? – Because they have absolutely no bargaining power in comparison to the ACCA/ACA. Also a large portion of the membership are already ACCA/ACA.

Summary

The CTA qualification are seen as a tag on to the accountancy qualification. So without an ACCA/ACA, it is seen as worst than ACA/ACCA qualification.

They are using the failure of ATT/CTA, to increase its perceived difficulties and attract ACCA/ACA members to join them.

It is not a gold standard for tax, if it is, then CTA should be able to get exemptions from the professional level tax exams in ACA/ACCA.

Seriously, I would not want my worst enemy to do these exams.

Reply 1

Usermania

ALTHOUGH NOBODY REPLIED, LIKED OR ANYTHING KNOW THAT THIS WAS VREY VERY USEFUL. CTA IS NOT FOR ME I AM BAD AT MEMORISING AND IT SOUNDS LIKE ****. Thing is I heard auditing is very boring and repetitive as well as troublesome too, such as out of 450 days 50 days actually learning. Really confused on what to go through now

Reply 2

Usermania

COMPLETELY RELATE AND I'VE HEARD THE EXACT SAME THING. Initially had a job for CFAB then ACA in Tax for Autumn Start but now they call and say they think CTA is better for me... I said look into ACA for me more as it's what I initially planned upon. Still waiting for a reply, really don't want to do CTA and if I say I don't want to will they take away my job? Read upon CTA quite a bit whilst also checking the CIOT website for pass percentages (in terms of people and the exams), looks way too hard for me and I'm v.bad at memorising loads...

Original post by Usermania