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Hi All
I am ACCA qualified and always wanted to undertake more tax experience. (especially as my work will pay)
I have heard about CTA courses and wondered if this is worth it if I am ACCA qualified already. Would it be beneficial and could it mean I remain an ACCA member even if I CTA qualify?Thanks!
Firstly,yes you can be both ACCA and CTA qualified.I don’t see any downside from you taking qualification if you are prepared to put time and effort into studying for this qualification.It is well regarded.Of course certain skills such as negotiation with HMRC and dealing with clients can only really be learnt by undertaking them on the job.Effectively then there is no real downside to taking this qualification other than opportunity cost of time and effort which could be used for next best use.
From my understanding CTA goes into far more depth on tax than ACCA does. If you’ve passed P6/ATX you get an exemption for only the first CTA exam. You still have to take 5 further exams. If you haven’t passed P6/ATX then you get no exemptions at all. That shows the comparative level of tax knowledge required between the two.
It’s quite common to do an accounting qualification and then the tax qualification afterwards. You can of course be a member of both – as long as you or your employer are prepared to pay two sets of fees!
Thank you for your replies.
The main reason I wanted to do CTA was because even though I am an Acca member, I have no specific experience in any one things (ie audit/tax) etc. And eventually I like the idea of doing my own work on the side (not my own business full time, but just accounts/tax returns for local businesses in the small town where I live)
Would you advise / recommend CTA for that reason?
Thanks!Hi,
I’m currently doing CTA having qualified with ACCA, you only need to do 4 papers if passed P6.
It’s a big step up from P6 & is predominantly written, if you have plans to work in specialised areas of tax then it’s good to have.
As with ACCA you need to have the work experience to gain the CTA qualification.
It sounds like you are only intending to do general tax which is more than covered by P6, CTA is more geared to tax planning opportunities & advice for complex tax circumstances.
Best of luck.
Hi anon. Thanks. Interesting you’re also Acca qualified and doing CTA? Can I ask why / what made you choose CTA?
Unfortunately I never did p6 in Acca so unless I do that as an one off paper, that may cover the general points you think I need for my future instead of doing CTA?Interesting you also have to do CTA experience. That I didn’t know!!
Hi sparklegirl,
I work in specialised tax hence why I chose CTA as you can choose the route & specific taxes to go into.
As with any professional qualification you always need practical work experience to be able to work in specialised areas, theory alone is not sufficient.
I think acca p6 or adv tax as it’s now called is more than sufficient for your purpose of filing tax returns & general advice.
Best of luck.
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