Registered AITI Tax Qualification Info and Questions

soft landing

Hi all,

Im sure there are a few people who have passed accountancy exams in the past that have done (or are doing) the tax exams.

How do the two courses compare in terms of difficulty. Obviously they are 2 different exams so the answer is not clear cut but would you say one is way more difficult or they are a similar difficulty?

I am ACA qualified and thinking about doing them. The fear of failure is all that is holding me back!

Thanks

Legend100

the tax exams are much more theory based than what you do in the ACA exams. (did my FAE in 2009)

The focus in the tax exams is more on the legislation rather than the mechanics of a tax comp but there is a good bit of stuff that goes well beyond the scope of the FAE especially at part 3 where international tax issues are a big part of the personal tax course

The exams are tough....il tell you just how tough when the part 3's are over in May (the lack of study leave is the killer thing compared to what you get when doing ACA)

if you are interested in tax, i think it is a very good course as it gives you a much greater understanding of tax than is taught in the ACA course. Rather than having one tax exam per year you will have four and they are each in a particular tax so you can imagine the depth of material to be covered is much more than you do in the ACA but you will still have a very good base as there will be a lot of stuff at part 2 that you will have covered before. The capital paper is almost all what you cover at FAE with the exception of the laws of intestacy which wasnt on my FAE course. (i know the FAE has changed considerably with the intro of the tax module for the new FAE which covers alot more than the old FAE)

Hope that helps!

soft landing

Thanks for the reply legend. I passed in Fae 2009 too and swore at the time that id never do another exam if I passed them! I'll probably do them though as I will use them given the route I am going down.

Good luck in May

ID@THEWIDOWS

Hi All,

I am just wondering about the tax exams with the AITI. I have just completed an LLB and have been working in a Legal Firm for the past four months.

I have a few questions about the exams. Would there be a huge element of maths to taxation ie equation and formulas. To be honest I have not been great at maths in school but was quite good at accountancy. I also got a good 2.1 law degree so I should be able to face the course.

Any advice and or info that you may have would be great.

Mr. Incognito

I'm a law head with the Tax exams- they dovetail quite well.

Their isn't a huge amount of computations tbh. More legal analysis of certain sections.

I think they suit a law graduate more than an accountancy one tbh.

TheScriptFan

Hi Part 3's,

How is everyone doing? How is your studying going?

Just wondering how much 'extra reading' if any, people are doing? I'm in a bit of a panic as have so so much to do!!

TSF

Blooming

Hey guys,

Hope study is going well for everyone.

Starting part 2 exams on Monday. I was exempt from part 1 so new to these exams. What is the story with tabbing your legislation? I write a bit on mine such as cross referencences but just saw in exam regulations that this isn't allowed. Did you just write couple of words or are ye like me trying to copy manual onto tiny tab note:D

Would die if they took my legislation on day of exam cos I have so much underlined and highlighted too.

Thanks for any advice.

TheScriptFan

Blooming wrote: »

Hey guys,

Hope study is going well for everyone.

Starting part 2 exams on Monday. I was exempt from part 1 so new to these exams. What is the story with tabbing your legislation? I write a bit on mine such as cross referencences but just saw in exam regulations that this isn't allowed. Did you just write couple of words or are ye like me trying to copy manual onto tiny tab note:D

Would die if they took my legislation on day of exam cos I have so much underlined and highlighted too.

Thanks for any advice.

Hi Blooming - no cross referencing allowed, you can only write the section no. and title of section as far as I know. Do not write anything on your leg either.
Best of luck!! x

Legend100

Best of luck to all the Part 2's this week, can't believe that was a year ago already!:)

pigeonbutler

TheScriptFan wrote: »

Hi Lisa, same as me, you need 58% to pass the Summer, but you will probably have picked up a couple of percent at least even if you failed CA. It's so hard to come home after a days work and study!!

I think this 58% (58.8 to be precise!) number only applies to someone who got 0% in CA. In which case they need to get 50 marks from remaining 85.

Someone who got say 40% in CA only needs 44 marks from remaining 85 - i.e. 52%

Confused99

TheScriptFan wrote: »

Hi Part 3's,

How is everyone doing? How is your studying going?

Just wondering how much 'extra reading' if any, people are doing? I'm in a bit of a panic as have so so much to do!!

TSF

Hi guys, There is just so much to get through -I'm doing very little further reading - don't have the time. Are ye doing much pre reading of earlier Parts???

Just wondering how much of the law manual we need to know at part 3 level since we don't have a specific exam on it? Are ye reading the entire book? Thanks

TheScriptFan

Confused99 wrote: »

Hi guys, There is just so much to get through -I'm doing very little further reading - don't have the time. Are ye doing much pre reading of earlier Parts???

Just wondering how much of the law manual we need to know at part 3 level since we don't have a specific exam on it? Are ye reading the entire book? Thanks

Hey there, I have not opened the law manual once. I guess i will have to at some stage but am still going through the other manuals. Was hoping to be finished by Fri, but not going to happen.
As for doing pre-reading, if it says - you covered this in your part 2/1 and I don't remember what it is, then I'm going back and revising it. Otherwise just don't have time to go through it all again!

Gary7

Hi all, long time reader, first time poster.

am repeating part 3 this summer. my manuals are all 2009/2010, as the exams i sat were in august and these were the ones sent to me.

I was wondering if i should purchase the 2010/2011 manuals, or is there any need? I assume there isn't a huge difference in the content.?

Any advice would be appreciated

Legend100

Can you get onto Taxfind as all the manuals are there if you can

TheScriptFan

Gary7 wrote: »

Hi all, long time reader, first time poster.

am repeating part 3 this summer. my manuals are all 2009/2010, as the exams i sat were in august and these were the ones sent to me.

I was wondering if i should purchase the 2010/2011 manuals, or is there any need? I assume there isn't a huge difference in the content.?

Any advice would be appreciated

There aren't a huge amount of changes but typically any changes are the ones that'd be examined. As suggested look up taxfind as they are all there.

Gary7

Hi guys, thanks for the responses. If the changes are minimal it probably isn't worth the price of new manuals. Only issue with Tax find is, because I'm repeating, I can't seem to access it, assume this is cos I only paid exam fees this time. Seems harsh, especially when I was doing CA.

Thanks again

Marz66

Gary7 wrote: »

Hi guys, thanks for the responses. If the changes are minimal it probably isn't worth the price of new manuals. Only issue with Tax find is, because I'm repeating, I can't seem to access it, assume this is cos I only paid exam fees this time. Seems harsh, especially when I was doing CA.

Thanks again

Hi Gary7

If I were you, I'd ring the institute and ask if you can have access to the manuals as there are a few things that changed.

One major change I can think of is that in VAT, the place of supply of services rules have changed and the lecturer mentioned that they could be asked. There's also new transfer pricing rules in Business taxes, though i think myself that wouldn't be a full question.

If you like, i could send you those 2 chapters (can pdf them from Tax Find) but like i said, you'd be better getting your own copy of the manual because there could be other changes that I'm not thinking of. Good luck:)

lisagirl1

What did people think of the revision courses? poor enough in cork, panic starting to set in again!

wgk

Im based in Dublin and found the vat guy brilliant, income tax was also good as the guy seemed to a knowledge of what goes on beyond the scenes when it comes to setting the exam, found the others so so. CT focused purely on exam papers, which for me was a bit premature as I'm still trying to get through manuals!

smurifit

didnt get a chance to make the revision course at the wknd...anyone able to post up any of the key points in the income tax lecture? cheers

TheScriptFan

smurifit wrote: »

didnt get a chance to make the revision course at the wknd...anyone able to post up any of the key points in the income tax lecture? cheers

• Restriction of relief for high earners
• Double tax relief
• learn contents of stmt of practice 1/2/3
• Revenue concess. for people sent here on ST
• Taxation of Share option for mobile workers
• Subsistence exp
• 15% of paper will be CAT & SD
• Revise CAT & SD for trusts/retirement relief & Marital breakdown
• Pensions
• Look at tax briefings up to last June
• Domicile Levy
• Income levy has made PRSI and HC more relevant, don't ignore.
• Stuff in Finance act: Abolition of remittance basis for Irish Dom. S825B extended to EU, Higher earners rest amended; S811 amended, Domicile levy
• Trusts - Domestic & offshore
• S806(10) what is a bona fide commerical trans
• Convertible Securities
• Earnouts (ascertainable V unascertainable. Read Marren V Ingles
• Options - CGT
• What happens to your pension if you lose your job

Stuff she defo thinks is on paper:

1. Residence
2. Trusts
3. Shares
4. Pensions

Blooming

Did anyone recieve tax relief for tuition fees for this course? I have to pay for it myself so I was hoping to get tax relief but my application to Revenue was rejected. They said the course/college has to be on the approved list. I was going to appeal but am I wasting my time?:(

Will make paying for Part 3 (if I pass part 2 ) even more difficult!!

Legend100

The course doesn't qualify. It is specifically stated in the ITI handbook.

Could really use that tax refund!!

sbffbs

TheScriptFan wrote: »

Hey there, I have not opened the law manual once. I guess i will have to at some stage but am still going through the other manuals. Was hoping to be finished by Fri, but not going to happen.
As for doing pre-reading, if it says - you covered this in your part 2/1 and I don't remember what it is, then I'm going back and revising it. Otherwise just don't have time to go through it all again!

Hi, Just scrolling down through Part 3 comments and I see a mention of a law manual, I did the course 2 years ago but never sat the exams, this time around I took all material off the website, whats this of a law manual? I didn't get this back in 2008/2009 - maybe this is the legislation for the different taxes, is it? Any clarity much appreciated!! Thanks

sbffbs

Blooming wrote: »

Did anyone recieve tax relief for tuition fees for this course? I have to pay for it myself so I was hoping to get tax relief but my application to Revenue was rejected. They said the course/college has to be on the approved list. I was going to appeal but am I wasting my time?:(

Will make paying for Part 3 (if I pass part 2 ) even more difficult!!

I got tax relief with the Revenue for this course at both Part 2 and Part 3 - go back and try again is my advice!

lisagirl1

sbffbs wrote: »

I got tax relief with the Revenue for this course at both Part 2 and Part 3 - go back and try again is my advice!

Really?? how did you get the relief? did you just write to Revenue or is there a form?

sbffbs

There's a form for tuition fees that you fill out - look up revenue.ie - think I may have had to submit the Part III one twice, that was 2 years ago now so maybe they've gotten a bit more strict on courses they give relief on. For definite though, the AITI course was not on a specific list at the time I applied for the relief. Best of luck

lisagirl1

sbffbs wrote: »

There's a form for tuition fees that you fill out - look up revenue.ie - think I may have had to submit the Part III one twice, that was 2 years ago now so maybe they've gotten a bit more strict on courses they give relief on. For definite though, the AITI course was not on a specific list at the time I applied for the relief. Best of luck

Thanks a mil for that, worth a try anyway isnt it!

Legend100

sbffbs wrote: »

Hi, Just scrolling down through Part 3 comments and I see a mention of a law manual, I did the course 2 years ago but never sat the exams, this time around I took all material off the website, whats this of a law manual? I didn't get this back in 2008/2009 - maybe this is the legislation for the different taxes, is it? Any clarity much appreciated!! Thanks

The law manual was introduced this year and covers all parts. It is an overview of various parts of the law. I don't think it is that important to be honest, there are one or two chapters that are part of the advanced business taxes course but they are quite short.

It is on taxfind if you can get into it

ascuteasabutton

Just wondering if anyone is in the same situation. I completed Part 1 exams in April and Registered for Part 2 Summer Course but I was checking dates and the Part 2 CA Home Assignment is due before the results of the Part 1 exams are out.How does this work if you are unlucky enough to fail Part 1 and have wasted time completing Part 2 CA as this can't be carried forward to next year??

I don't really want to put in that amount of work for the Part 2 CA if i've failed Part 1 and will have to do it all again next year...

Anybody else in the same position???