Registered AITI Tax Qualification Info and Questions

pjmn

Glad they are over - thought Personal was the worst, today the best...

Vivagora

Businss and capital were lovely exams. Personal and VAT were horrible although VAT was mangable due to q nice theory question! Scared about the standard required at Part 3 if we are meant to be experts on this! Capital had a lot of tricks like the use of succession act and investment companies in the bus relief question so people will be caught out

Shane732

Believe me Part 3 is a step up!

Although I personally think the standard of the exams have dropped significantly based on past papers.

I also think that the standard in practice is much lower these days too.

Hannah2011

Hello, does anyone know where I can find the stock valuation rules on cessation?
Not that I wouldn't what anyone says...but if you could point me to the actual leg. Or a document That would be great. Tks

Shane732

Hannah2011 wrote: »

Hello, does anyone know where I can find the stock valuation rules on cessation?
Not that I wouldn't what anyone says...but if you could point me to the actual leg. Or a document That would be great. Tks

I assume that it's Section 89 TCA 1997 you are referring to?

tax exile

Has anybody started part 1 this April...just making a start on the income tax continuous assessment and would be good if there was a few online to run through a few things together?

Shane732

tax exile wrote: »

Has anybody started part 1 this April...just making a start on the income tax continuous assessment and would be good if there was a few online to run through a few things together?

What's the continuous assessment on?

tax exile

Just this section of the scenario I was hoping somebody could point me in the direction of relevant legislation or case law

"During 2011, Mary incurred expenditure of €2,000 on attending a trade fair in the UK and she
attended this with another employee. This included meals, transport and hotel
accommodation

Not enough info- who is Mary?

Presumably ANOTHER employee. From whose perspeective? A company would be entiteld to write it off against corp tax.

I think what they are getting at though is that you can claim tax free expenses up to civil service reates and anything over is taxable and subject to USC and PAYE. Look up the Statement of Practice on it.

You really need to learn to think about things like this. Tax is not a career one can be spoon fed in.

Shane732

tax exile wrote: »

Just this section of the scenario I was hoping somebody could point me in the direction of relevant legislation or case law

"During 2011, Mary incurred expenditure of €2,000 on attending a trade fair in the UK and she
attended this with another employee. This included meals, transport and hotel
accommodation

Not enough info- who is Mary?

Presumably ANOTHER employee. From whose perspeective? A company would be entiteld to write it off against corp tax.

I think what they are getting at though is that you can claim tax free expenses up to civil service reates and anything over is taxable and subject to USC and PAYE. Look up the Statement of Practice on it.

You really need to learn to think about things like this. Tax is not a career one can be spoon fed in.

Wow that's a hard post to read!

I imagine they are looking for info on expenses an employee can claim tax free while working aboard.

juniorspesh

Has anyone started the part 3 continuous assessment yet? I think I have a fairly good grasp of what's going on but wouldn't mind running it by someone. Just in case I've missed the bleedin' obvious!

Mr. Incognito

Shane732 wrote: »

Wow that's a hard post to read!

I imagine they are looking for info on expenses an employee can claim tax free while working aboard.

Crap- sorry my fault- hit edit instead of quote.

Sorry dude

Shane732

Mr. Incognito wrote: »

Crap- sorry my fault- hit edit instead of quote.

Sorry dude

Ha, no worries at all.

I reckoned that's what happened.

santino

Hi There,

I passed Part 2 exams today. Delighted.

How did the rest of ye get on?

And would any of the Part 3 guys / gals have any advice from here on?
My boss told me today to continue onto Part 3 straight away and the way he described it, it scared the sh*te out of me...
Is it that bad???

noveltea

Well done on passing your exams.

I passed the part 2 today too. Was delighted and a bit surprised that I did but sure happy days.

Think I will continue on with them straight away as well since I am in the study mode now.

santino

noveltea wrote: »

Well done on passing your exams.

I passed the part 2 today too. Was delighted and a bit surprised that I did but sure happy days.

Think I will continue on with them straight away as well since I am in the study mode now.

Well Done. It's a fair old slog, nice to get a result.

Ya, I say we fire ahead, we're 2/3's of the way there now sure, only need one last big push

Legend100

santino wrote: »

Is it that bad???

In a word....yes!
But it is worth it when they are finished. I had done the ACA exams and went onto do the tax exams striaght after, thought the part 2 were manageable but the part 3's were by far the hardest exams ive ever done (and will ever do, no more exams ever again!!)

My only advice for you with the part 3's is not to leave the studying to a few weeks before the exams, there is just too much material to cover especially in personal, i took them last year and was studying most nights after work for a good three/four months
Oh and the other piece of advice I would give is to really make a good effort at the continuous assessment, it's a great way to get some much needed marks towards the final exams

Best of luck to ye!

santino

Legend100 wrote: »

In a word....yes!
But it is worth it when they are finished. I had done the ACA exams and went onto do the tax exams striaght after, thought the part 2 were manageable but the part 3's were by far the hardest exams ive ever done (and will ever do, no more exams ever again!!)

My only advice for you with the part 3's is not to leave the studying to a few weeks before the exams, there is just too much material to cover especially in personal, i took them last year and was studying most nights after work for a good three/four months
Oh and the other piece of advice I would give is to really make a good effort at the continuous assessment, it's a great way to get some much needed marks towards the final exams

Best of luck to ye!

Thanks Legend, I feel like crying now but sure all we can do is give it a shot.

Those continuous assessment's are handy alright if you put the work into them...I probably wouldn't have passed Personal if I hadn't gotten a good result at Christmas.

Thanks again

Eabhabear

Hi I was wondering if any of you could give me some advice. I'm starting in a Big 4 firm in October but I'm going into audit. I am thinking of doing the part 2 exams in my first year. I'm exempt from part 1 as I did a masters. I was wondering if anyone could answer the following questions?

1. How much study leave is recommended prior to the exams?
2. Is it manageable to do the exams being in audit?
3. Does it matter that I won't actually be working in a tax department?
4. Could I do 2 exams in the winter and 2 in the summer or do I have to do all 4 in the same sitting?

Any advice is appreciated thanks!

Robert T

Eabhabear wrote: »

Hi I was wondering if any of you could give me some advice. I'm starting in a Big 4 firm in October but I'm going into audit. I am thinking of doing the part 2 exams in my first year. I'm exempt from part 1 as I did a masters. I was wondering if anyone could answer the following questions?

1. How much study leave is recommended prior to the exams?
2. Is it manageable to do the exams being in audit?
3. Does it matter that I won't actually be working in a tax department?
4. Could I do 2 exams in the winter and 2 in the summer or do I have to do all 4 in the same sitting?

Any advice is appreciated thanks!

Hey,

I had about 3 weeks study leave. At the time I thought that I was tight on time but passed them comfortably enough in the end.

I think you need to sit all 4 in the first sitting but as far as I know you can carry over however many you pass. So if you only pass two in the first sitting you can just sit the remaining two in the next sitting.

censuspro

Legend100 wrote: »

In a word....yes!
But it is worth it when they are finished. I had done the ACA exams and went onto do the tax exams striaght after, thought the part 2 were manageable but the part 3's were by far the hardest exams ive ever done (and will ever do, no more exams ever again!!)

My only advice for you with the part 3's is not to leave the studying to a few weeks before the exams, there is just too much material to cover especially in personal, i took them last year and was studying most nights after work for a good three/four months
Oh and the other piece of advice I would give is to really make a good effort at the continuous assessment, it's a great way to get some much needed marks towards the final exams

Best of luck to ye!

I wouldn't entirely agree with that statement. My experience is that the tax exams are considered "good to have" which is a term you will hear used by people who have passed their tax exams.
It is by no means a silver bullet for gaining employment and unless you have been working full time in tax then you are not going to be considered for any jobs other than entry level tax positions. That's fine if your starting out in your career but many people who sit the tax exams are already qualified accountants or solicitors who have a number of years work experience and would not be willing to move into a entry level tax role for €20k pa.
The majority of the better paid tax roles that are out there at the moment are within industry specifically in Corporation Tax and for candidates who are Big 4 trained. Outside of that, the jobs that are available are within smaller tax firms for candidates who are a) trainees starting out in their careers or b) Tax Seniors who are recently qualified and who have trained in a full time tax role.
The danger with all this is that the more time you spend out of tax the more knowledge you lose. Taxation is a topic where you constantly need to familiarise yourself with the legislation and because it is constantly changing, your knowledge becomes completely redundant in one or two years time. VAT on property is a perfect example.

IMO, if you are considering doing the tax exams to improve employment prospects, particularly in the current jobs market, I'd recommend doing an MBA over the ITI. They both take two years part time, the MBA is probably easier to achive and your employment prospects with an MBA are much broader than as a tax adviser.

MrFirstClass

Just a few quick questions - Basically I have a Masters of Accounting degree and I now want to do tax but I am just wondering the best way around it so to speak.

If I register with the AITI how many years does it take to become qualified and how many exams can be sat through the AITI - Am I right thinking that a contract or something is required after doing so many exams externally?

Secondly, if I had a training contact, how many exams then have to be sat through the AITI?

Hannah2011

Hi everyone,

Just wondered if anyone doing APT could shed some light on something
Summer 2011 paper, Q3 part 1, the answer says €2m cap allowances claimed, where does this come from? I would have thought it was €4m.
Can anyone shed some light, can't figure it out at all

Hannah2011

MrFirstClass wrote: »

Just a few quick questions - Basically I have a Masters of Accounting degree and I now want to do tax but I am just wondering the best way around it so to speak.

If I register with the AITI how many years does it take to become qualified and how many exams can be sat through the AITI - Am I right thinking that a contract or something is required after doing so many exams externally?

Secondly, if I had a training contact, how many exams then have to be sat through the AITI?

Hi there, I would imagine you would be exempt from part 1, so you would have part 2 & 3 to do. You don't need a training contract but I would recommend one as you really need buy in from your employer. G'luck!

santino

Hey Guys,
This is really for anyone who studied for their exams in Limerick.
I'll be starting my Part 3's in a few weeks.
Basically my question is, are the Limerick tutors up to scratch? Are the facilities ok etc etc.
I studied in Cork for my Part 2's (my girlfriend was living there at the time) but I will be moving to Limerick in September so the obvious choice is to study there.
To be honest I found the lecturers in Cork only ok at best. It really comes down to the work you out in yourself but a good lecturer is pretty handy too.

I know this seems like a strange post but sometimes it's better to ask people in the know about these things.
Thanks

Hannah2011

santino wrote: »

Hey Guys,
This is really for anyone who studied for their exams in Limerick.
I'll be starting my Part 3's in a few weeks.
Basically my question is, are the Limerick tutors up to scratch? Are the facilities ok etc etc.
I studied in Cork for my Part 2's (my girlfriend was living there at the time) but I will be moving to Limerick in September so the obvious choice is to study there.
To be honest I found the lecturers in Cork only ok at best. It really comes down to the work you out in yourself but a good lecturer is pretty handy too.

I know this seems like a strange post but sometimes it's better to ask people in the know about these things.
Thanks

I can't speak for Limerick, but in my opinion the AITI lecturers are sub-par all round ( I studied in Dublin) with the exception of the indirect tax lecturer who is excellent. So they are probably no worse in Limerick.

santino

Hannah2011 wrote: »

I can't speak for Limerick, but in my opinion the AITI lecturers are sub-par all round ( I studied in Dublin) with the exception of the indirect tax lecturer who is excellent. So they are probably no worse in Limerick.

Hi Hannah,
I agree. the lecturers in my experience (bar the Capital Taxes lecturer in Cork who is well inside his subject) are very poor actually. Even the way classes were prepared and structured weren't up to scratch. Here's hoping for better!

Thanks

TheScriptFan

Anyone got any last minute words of wisdom before tomorrows APT? Last minute advice on areas to look over??!!

LuluF

Hi all
Could anyone tell me do the AITI actually fail on last attempt at part 3 level??!! As you can tell I'm sitting 2 exams being my 4th attempt, any stats would be great

Carstuck

Hi all,

Does anyone know if its easier to get a contract by doing the exams through the AITI?

ramacc

LuluF wrote: »

Hi all
Could anyone tell me do the AITI actually fail on last attempt at part 3 level??!! As you can tell I'm sitting 2 exams being my 4th attempt, any stats would be great

I don't know but I am 4th time attempt too and think the apt paper was quite a beast

DJ69

Hi,

I know this subject has been talked about before (& has probably been discussed at length, apologises I am new to this) but I am looking to get information on the AITI exams. I am an ACCA qualified accountant & I am considering taking on the tax exams.

Firstly, has anyone out there sat both the ACCA exams & the AITI exams? If so what was/is your assessment of the AITI exams Vs. the ACCA exams, as regards, difficulty, lectures, getting through them, etc. (I know this is a very subjective question, but any opinions would be welcome!)

Secondly, I would like to pursue the AITI exams in a tax department in a large practice, (preferably big 4). Have any ACCA qualified accountants made the jump from small practice to Big 4 to pursue the tax exams & if so, did you have to go back to 'Trainee' status? (in terms of level of entry & salary).

Any opinions on the above would be appreciated!

Thanks.

bluestar4

Anyone done the tax technicians course? was it beneficial when finding a job in tax? Whats the workload like? Class sizes etc, would appreciate any information at all.

Nutser

bluestar4 wrote: »

Anyone done the tax technicians course? was it beneficial when finding a job in tax? Whats the workload like? Class sizes etc, would appreciate any information at all.

bluestar4, I've just signed up for it this year as they are offering it as an online option for the first time. I've found it very difficult to get much information on it apart from that on the ITI website.

eomahoney2000

Hi im doing the part 2 tax exams in cork and some weekends i will be doing the lectures in limerick as my boyfriend is from there. i was wondering if someone could attach the limerick timetable here please.I would really appreciate it. Thank you

sandy60

where are the aiti exams here in athlone?

Ross36

Hello Everyone
Strongly thinking of registering to do Part 2 exams for first sitting next year. Exempt from Part 1. Will have some free time for some study after the tax deadline shortly and was wondering if there is anywhere I could get the manuals and past papers now without having to register ? Even the past papers and answers would help and willing to pay. Thanks for your help;)

Szewinska

have passed fae core but failed tax elective. despite this i do not hate tax and was wondering if this spring doing part twos would be of benefit to me. I had a bad day at at the office on tax elective but feel in meantime id like become better at tax. what anybody think?

noveltea

I passed the FAE Core last year and I failed the tax elective.

I decided to do the Part 2 last year and I found them very helpful for when I was sitting the tax elective.

I flew the tax elective this year and to be honest I think it was down to doing the Part 2, as I had such a better understanding of tax and the ledge etc.

Well done on passing the core. Its the main one.

Szewinska

noveltea wrote: »

I passed the FAE Core last year and I failed the tax elective.

I decided to do the Part 2 last year and I found them very helpful for when I was sitting the tax elective.

I flew the tax elective this year and to be honest I think it was down to doing the Part 2, as I had such a better understanding of tax and the ledge etc.

Well done on passing the core. Its the main one.

Hi Noveltea.

thanks for your advice and thoughts. i am very undecided. still a bit sore not to have got tax as i felt id good work done for it. on day i doubted everything and got myself very confused and changing answers.

i do have to make a quick decision as the exam for part 2s is in spring time. did you go on to do finals in tax?

steve_r

I did my Part 2's the same year as I did my FAE's.

I thought the Part 2's were great for providing a very strong foundation of the tax fundamentals, which meant that when I went on study the elective material, I was very confident that I knew where the information was coming from and I understood the context.

It is hard work, and you really have to make the decision based on your circumstances, and how it will affect your life and career.

Szewinska

steve_r wrote: »

I did my Part 2's the same year as I did my FAE's.

I thought the Part 2's were great for providing a very strong foundation of the tax fundamentals, which meant that when I went on study the elective material, I was very confident that I knew where the information was coming from and I understood the context.

It is hard work, and you really have to make the decision based on your circumstances, and how it will affect your life and career.

so based on your circumstances was a good choice for you

Nervous Nigel

I'd recommend sitting the Part 2s before sitting FAE.

You'll be a hell of a lot more likely to pass the FAE Tax Elective after sitting the Part 2s.

Szewinska

Nervous Nigel wrote: »

I'd recommend sitting the Part 2s before sitting FAE.

You'll be a hell of a lot more likely to pass the FAE Tax Elective after sitting the Part 2s.

Hi Nigel.

I have logged in under a friends log in for part 2s. am i letting myself in for something too big that I don't need though. Will it greatly improve my chances of getting tax elective next sept. 2k worth of improvement??

bluebell27

I am the same-failed tax elective and hoping to do part 2 exams in April. My firm have offered to pay for at least some of the fees which has helped me make the decision to do it.hoping to get application done tonight.just hope it isn't too tough catching up on the lectures I have missed!

steve_r

Szewinska wrote: »

Hi Nigel.

I have logged in under a friends log in for part 2s. am i letting myself in for something too big that I don't need though. Will it greatly improve my chances of getting tax elective next sept. 2k worth of improvement??

It's not just the financial cost, it's the time and effort of lectures, assignments (presume you will have one at Christmas), time off to study and site exams.

Are you planning on moving on to the Part 3's? If your goal is only to pass the tax elective then I think revision courses etc would be less expensive and time consuming.

I am very glad I did mine, but I was always planning on doing the Part 3's.

bluebell27 wrote: »

I am the same-failed tax elective and hoping to do part 2 exams in April. My firm have offered to pay for at least some of the fees which has helped me make the decision to do it.hoping to get application done tonight.just hope it isn't too tough catching up on the lectures I have missed!

Lectures were recorded when I did them so they should be available online.
I had an assignment to do at Christmas so check if you need to do that.

Szewinska

steve_r wrote: »

It's not just the financial cost, it's the time and effort of lectures, assignments (presume you will have one at Christmas), time off to study and site exams.

Are you planning on moving on to the Part 3's? If your goal is only to pass the tax elective then I think revision courses etc would be less expensive and time consuming.

I am very glad I did mine, but I was always planning on doing the Part 3's.



Lectures were recorded when I did them so they should be available online.
I had an assignment to do at Christmas so check if you need to do that.

i dont have a long term plan to be honest. i like tax relatively speaking so my attitude is it cant harm and it will keep me in study zone for the year which aint a bad thing. if i get done with aca i unlikely ever go do two sets of exams so may as well try get one set or at least part of one done.

satnavadays

Is it possible to get past home assignments online for part 2?

steve_r

satnavadays wrote: »

Is it possible to get past home assignments online for part 2?

Yep, they were in the past exam papers section of the student portal when I did it.

Disclaimer: I'm out of the ITI's student system now, so any information I give might be well out of date! Ring them to make sure

navandiver

Yes they are under the exam papers section of personal taxes called intrim exam not home assignment

Szewinska

of we register tomorrow do we pay tomorrow or at later date. i havent the funds in place but want do