February 2018

Hello and Welcome

Hello and welcome to the latest edition of the CTA student newsletter for all news on key updates and ongoing essential information within the Institute. I hope 2018 is treating you well so far.

Some of you may have recently received your November 2017 exam results and if you were successful, many congratulations. If you did not get the result that you hoped for then please do take a look at the suggested answers on our website. Don't forget the deadline for entering for the May 2018 exams, should you be eligible, is the last day of February.

For those students who want/need extra training for the CTA exams, this March we will be holding exam focus and skills days as a classroom session in London and online in the form of webinars, on Owner-Managed Businesses, Individuals, Advanced Corporation Tax and Application and Interaction. These will provide you with valuable tips and information on exam technique to aid you in passing the exams.

You will also find a technical article on Extracting Value from a Business by Marion Hodgkiss, Head of Tax for Kaplan Financial.

We appreciate feedback on our newsletters and welcome any suggestions at studenttraining [at] ciot.org.uk - we would really like to hear from you.

Yours sincerely

Rosalind Baxter
Director of Education

May 2018 Exam Entry Closing Date

Don't forget that if you are eligible to sit for the CTA exams in May, the deadline for entry is the last day of February. You can enter via our website with your student number.

Enter for your CTA Paper(s) Here

Tax Pathway Students Enter Here

Exam Focus and Skills Day

For the May 2018 Examinations

The Exam Focus and Skills days will benefit you in a number of areas for the forthcoming examinations because:

  • They are designed to help kickstart your revision with confidence.
  • They will cover both core and challenging areas of the syllabus for each paper.
  • You will be provided with exam standard and past exam questions.
  • The tutor will guide you through each question, showing you how to effectively identify issues and scenarios as well as assisting you to produce an exam standard answer.
  • The days are run by very experienced tutors from BPP, Kaplan Financial and Tolley Tax Training.
  • Choice of classroom-based sessions in London and webinars in Owner-Managed Businesses, Individuals, Taxation of Major Corporates and Application and Interaction.
  • Good exam and revision technique can be the difference in passing or failing a paper.

Click on the links for an introduction of what to expect on the Owner-Managed Business, Taxation of Major Corporates and Application and Interaction webinars.

Read More and Book Here

Extracting Value from a Business

Technical Article

One of the most commonly asked questions in practice comes from clients who own their own company, and want to know the most tax efficient way of taking money from the business.  It is also therefore a common topic for the exams. 

Article written by Marion Hodgkiss, Head of Tax for Kaplan Financial 

Read the Full Article Here

What's New for the May 2018 Examinations?

Reading Time and Calculators

From the May 2018 session, calculators may now be used during the 15 minute reading time.

Advanced Corporation Tax (ACT) Paper now Taxation of Major Corporates (TOMC)

As part of the CTA Exam Review changes, the CTA Advisory paper, Advanced Corporation Tax (ACT), has merged with ACA CTA Joint Programme Advisory examination paper, Taxation of Major Corporates (TOMC). There will be one examination available (TOMC) to all CTA students rather than two separate examinations effectively covering almost the same syllabus.

Read the Full Details Here

The Finance Act for the 2018 Examinations

For the avoidance of doubt, the 2018 exams will be based on the first Finance Act 2017, i.e. the one that is already law. There will be a second Finance Act later in 2017, but students will not be examined on this in 2018.

Tolley have produced a supplement for the first Finance Act 2017, which is available, here. You can also obtain a discount from this supplement, here (PDF download).

Tolley will be producing full legislation books later in the year once the second Finance Act has been produced, so a lot of candidates in May 2018 will have 2016/17 legislation books and the supplement, whereas by November 2018 a lot will probably just buy the 2017/18 legislation that includes the second Finance Act, even though it will contain material not technically in the 2018 syllabus.

To be clear, students can bring in any combination of the above they like, it is up to them, it is all legislation and therefore allowable.

2018 Fees

CTA Exam Entry (per written paper): £155

Computer Based Examination: £80

Credit in a written paper: £155

Student Re-Registration (for a further three years): £160

View Here

Student Calendar

Plan your studying for the CTA examinations by viewing all the key dates and deadlines with our student calendar.

Download Here

Permitted Books in the Examination – Disqualification Warning

Please be aware that in fairness to all candidates any candidate found in possession of a non-permitted book in the exam hall CAN be disqualified. Permitted books can be found here and in the candidate instructions sent to you three weeks before the examination.

Manuals from the tutorial bodies are NOT permitted books.

View Permitted Books Here

Advisory: VAT on UK Domestics Transactions, IPT & SDLT – Webinar

If you sat the Advisory: VAT on UK Domestic Transactions, IPT & SDLT paper at the November 2017 exam session, you can view a webinar which considers the exam paper in detail explaining the areas where candidates did not score marks, and why, and how marks could have been achieved.

If you are planning on sitting this exam paper for the first time in May 2018 this webinar should be essential viewing.

View the Webinar Here

Application and Interaction Credit (Exemption)

Please note that you if you have a qualification which entitles you to a credit in the CTA Application and Interaction paper but have not yet applied for this, you may wish to apply by 30 June. If you apply for the credit between 1 January 2018 and 30 June 2018, the credit will lapse following the November 2018 examination session regardless of your exam status.

After 30 June, you will no longer be able to apply for a credit in the Application and Interaction paper.

You can find this information on our website, including future changes to the CTA examination, here: www.tax.org.uk/RevisedCTA.

Apply for Credit Here

Exam Resources: Past exam papers, examiners’ reports, candidate scripts and suggested answers

As an extra study tool you can view and download past exam papers, examiners’ reports, candidate scripts and suggested answers from previous exam sessions.

View Here

Stay Connected

Keep up-to-date with important information and deadlines by following CIOTCTAStudent on Twitter and connect with us: CTA - Chartered Tax Adviser Student Group. You will receive notifications of when exam results are released, when exam entry closes, new information on our website and more.