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I am CIMA qualified accountant and I have realised I have gap in knowledge in Tax. My 6 years goal is to open my own practise and specialise in Tax on individual, SMEs and inheritance tax. I am now stuck if I should study ACCA for next 3-4 years to close knowledge gap on tax and build foundation for CTA or shall I study CTA now. I have been lucky to consult and seek an advice from CIMA, ACCA and CTA tutor. I am keen to learn from CIMA MiPs what they studied after CIMA and any experience/top tips would be much welcomed.
I don’t know where your advice is coming from but it should more likely take you only 12-18 months to obtain the ACCA qualification. If you put CIMA into the exemption database https://www.accaglobal.com/uk/en/help/exemptions-calculator.html and follow the prompts you will see:
“You are entitled to the following ACCA qualification exemptions:
Business and Technology (BT)
Management Accounting (MA)
Financial Accounting (FA)
Corporate and Business Law (LW)
Performance Management (PM)
Financial Reporting (FR)
Audit and Assurance (AA)
Financial Management (FM)”
So you will need only to pass five strategic professional exams and complete the ethics module:
Of course you will also need to have satisfies the performance objectives and 36 months relevant experience (which I am sure you will have) to apply for membership. https://www.accaglobal.com/uk/en/student/practical-experience-per.html