Changes from 2018 - Taxation of Major Corporates Specialism

New from 2018 – Taxation of Major Corporates (TOMC) and Advanced Corporation Tax (ACT) Papers Merging

With effect from the May 2018 CTA exam sitting onwards, the ACA CTA Joint Programme Advisory examination, Taxation of Major Corporates (TOMC) and the CTA Advisory paper, Advanced Corporation Tax (ACT) will be merging. There will be one examination available to all CTA students rather than two separate examinations effectively covering almost the same syllabus.

This decision was made following consultation and agreement with both the major users of the ACA CTA Joint Programme and the ICAEW. The timing for the merger also coincides with changes to the exam sitting arrangements for the ICAEW Professional stage (with which TOMC has been sat to date) which would make the sitting of this paper in ICAEW exam centres less appropriate.

What will the merged paper be called?

The merged paper will be called Taxation of Major Corporates (TOMC).

What does the change mean in practice?

The TOMC paper is currently available to sit in July and November in each year at ICAEW exam centres. From 2018 the paper will be sat in May and November at the CIOT exam centres instead. How candidates enter for the exam (via the CIOT website) will remain the same as at present but the closing dates for exam entry will change to reflect the CTA exam closing dates which are the last day of February for the May examinations and last day of August for November examinations, with a further calendar month after that where exam entry is still possible but a late entry fee is charged. See the Key Dates and Deadlines.

Has the syllabus changed for both papers?

Yes, slightly. Following consultation the syllabi of ACT and TOMC have been combined and amended slightly to take account of the minor differences. The syllabus description can be found here. The 2018 exam syllabus will be available later in the year.

What about the tuition material?

Tuition material will be obtainable through the tutorial bodies from the autumn of 2017. A link will be available later this year from the CIOT website shop.

Will there be a sample paper?

No, the changes are not substantial enough to make a sample paper necessary.

Will the cost of the merged exam paper be any different?

The cost of the exam paper is expected to be slightly less than the current cost of sitting TOMC. (The cost will be the same as a CTA Advisory paper.)

When will the exam results be issued for this merged paper?

The results will be issued at the same time as the other CIOT written exam paper results (in July for the May exam and in January for the November exam).

How long will the merged exam paper be?

The new merged paper will be three hours and 15 minutes long, with the first 15 minutes of this designated as reading time.

CTA Examination structure

ACA CTA Joint Programme

Any more questions?

If you have any further queries then please email education [at] ciot.org.uk or contact the Education Team by phone on 020 7340 0550.