Two chartered qualifications ICAEW CHARTERED ACCOUNTANCY QUALIFICATION, THE ACA CIOT CHARTERED TAX ADVISER QUALIFICATION, THE CTA A unique and efficient route for tax professionals specialising in the tax affairs of major corporates to become a member of both ICAEW and CIOT
New route to ICAEW Chartered Accountant and Chartered Tax Adviser The Institute of Chartered Accountants in England and Wales (ICAEW) and the Chartered Institute of Taxation (CIOT) have worked together in consultation with professional services firms to create a unique and efficient programme for students specialising in the tax affairs of major corporates. It has been designed for students dealing with the tax affairs of FTSE 350 companies or other large corporates from the start of their training. This programme enables students to achieve two prestigious qualifications the ICAEW chartered accountancy qualification, the ACA, and the Chartered Tax Adviser qualification, the CTA. This newly created route is likely to take three to four years and those who successfully complete it will be eligible to apply for membership of both ICAEW and CIOT, provided they have met the criteria for membership which includes undertaking the relevant professional work experience. Benefits of this new programme Many students specialising in taxation typically study to become a Chartered Tax Adviser after qualifying as an ICAEW Chartered Accountant. Details of the traditional ACA and CTA qualifications can be found at icaew.com/trainaca and tax.org.uk/students_qualifications. This Joint Programme maintains the rigorous standards of both ICAEW and CIOT and has been designed to offer your employees a more efficient route to become tax specialists. The key benefits are: optimised study time: duplication of tax within the ACA and CTA syllabi has been reduced, so that students are not examined twice in the same subjects. flexibility: students may sit the Taxation of Major Corporates Paper, designed specifically for this Joint Programme, before or after the ACA Advanced Level modules. The CIOT E-Assessment can also be taken at any time before the final CIOT paper. specialism facilitated: students specialising in the tax affairs of large corporates can mirror this in their training. cost effective: through studying both qualifications simultaneously, the route to qualification, as both an ICAEW Chartered Accountant and a Chartered Tax Adviser, should result in students spending less time out of the office and more time on study relevant to their employment. The cost of studying for the Joint Programme is likely to be less than following the traditional route. earlier qualification: as the programme provides an integrated route to qualification of both ICAEW and CIOT, successful students should be able to study for the examinations earlier than if they had followed the traditional, individual route to qualification.
A summary of the taxation of major corporates route to ACA and CTA To achieve the ACA qualification, students must study and pass 14 of the 15 ACA modules as well as the other components of the ACA. Students will not sit the ACA Professional Level Business Planning: Taxation module. Instead, students must study and pass a new Taxation of Major Corporates Paper designed specifically for this Joint Programme. They will also need to pass one additional CIOT paper as detailed below: one existing CTA Advisory paper (excluding Advanced Corporation Tax); or the CTA Application and Interaction Case Study; or an Advanced Diploma in International Taxation (ADIT) Paper, either the Advanced International Taxation Paper II UK or Advanced International Taxation Paper II USA. Find out more on ADIT at tax.org.uk/adit. The new Taxation of Major Corporates Paper is designed for tax professionals working with large corporates such as FTSE 350 companies and has been developed by ICAEW and CIOT. View the syllabus and a sample examination paper at icaew.com/aca-cta or tax.org.uk/aca-cta. A student is eligible to become an ICAEW member after successfully completing the: Taxation of Major Corporates Paper; and ACA modules, plus professional development, ethics and professional scepticism and practical work experience. To become eligible for CIOT membership, students must successfully complete the CTA E-Assessment in Professional Responsibility & Ethics. Students will also have to demonstrate that they have at least three years relevant professional experience. A typical study route to complete the ACA CTA Joint Programme As a student progresses through the requirements and components of the ACA and CTA qualifications, the following diagram shows an example route to studying the ACA and CTA exams. On completion of steps 1-5 all exam requirements for both qualifications will be satisfied.
Study options Students will continue to study for the ACA and CTA qualifications with their selected tuition provider. The Taxation of Major Corporates examination will be available to sit during the ACA Advanced Level exam sessions in July and November (starting from July 2014). The Taxation of Major Corporates paper will be sat at the same time as the ACA Advanced Level module exams. The final CIOT paper, required for students to achieve the CTA qualification, can be sat at the CTA exam sittings in May and November. The ADIT Paper is sat in June. Find out more about study options, tuition and exams at icaew.com/aca-cta and tax.org.uk/aca-cta. Next steps Students will need to register as an ACA student with ICAEW at icaew.com/aca. When they have their ACA student number, they can register with CIOT and become a student on the ACA CTA Joint Programme. For more information on how students gain the ACA and CTA go to icaew.com/aca-cta and tax.org.uk/aca-cta. If you have a question or would like to discuss this new Joint Programme with us, please contact our teams who will be happy to help. ICAEW T +44 (0)1908 248 250 E learning@icaew.com icaew.com/aca-cta CIOT T +44 (0)20 7340 0574 E aca-cta@tax.org.uk tax.org.uk/aca-cta
Testimonials Bill Dodwell Partner and Head of Tax Policy Group, Deloitte Claire Godfrey Manager, International and Transaction Tax Services, Ernst & Young Middle East Paul Morton Global Head of Tax, Reed Elsevier I m really pleased that the CIOT and ICAEW have worked together to introduce a joint programme for the ACA and CTA qualifications. The new route offers an accelerated route for corporate and indirect tax candidates without compromising on the key quality standards that I know both the CIOT and the ICAEW uphold. At Deloitte, we really value the in-depth examination of tax that the CTA demonstrates. After achieving both the ACA and CTA I wanted to do something more and experience more. An opportunity came up with Ernst & Young in Dubai. I am focusing on the international and advisory side but as I am a CTA, I am an expert in UK tax. As the tax environment is developing in the region, having the CTA means that I have a foundation in a complex tax system. This means I can navigate with ease through developing regimes and crossborder structuring. In the Middle East holding both the ACA and CTA impresses colleagues and clients; they are prestigious professional qualifications that set me apart from many other tax advisers in the region. The challenges faced by our department are very demanding so we look for new team members to be highly knowledgeable. We can be sure that a tax professional who has the ACA and CTA qualifications will have all of the technical skills needed to succeed in our team.
ICAEW CIOT ICAEW is a professional membership organisation, supporting over 140,000 chartered accountants around the world. Through our technical knowledge, skills and expertise, we provide insight and leadership to the global accountancy and finance profession. Our members provide financial knowledge and guidance based on the highest professional, technical and ethical standards. We develop and support individuals, organisations and communities to help them achieve longterm, sustainable economic value. Because of us, people can do business with confidence. The Chartered Institute of Taxation (CIOT) is the leading professional body in the United Kingdom concerned solely with taxation. Membership of the CIOT is by examination and members have the practicing title of Chartered Tax Adviser and the designatory letters CTA. Our 16,600 members and 4,000 students work across all aspects of taxation, including direct and indirect taxes and duties and are supported by 37 branches around the world. A Chartered Tax Adviser, or CTA, holds the prestigious qualification in professional tax expertise and can be relied upon to provide the highest quality tax advice to business and personal clients. The CTA designation is recognised and respected internationally as a mark of technical excellence and professional integrity. Excellence in Taxation. T +44 (0)1908 248 250 E learning@icaew.com icaew.com/aca-cta T +44 (0)20 7340 0574 E aca-cta@tax.org.uk tax.org.uk/aca-cta