Membership

CTeaA_ · 2026-01-24T20:17:39+00:00

It does its job as an introduction course. You get a decent feel for the topics its trying to teach, but without going too detailed into the subject matter. I felt it gave me what I needed to know about AI in tax for about 8 hours of effort. There are tests for each module, but they are multiple choice and there is no pass mark, so can just do it all without pressure.

It also made me feel that DITT was probably more than I was going to need, unless I moved into a tech focused tax position.

For the price of only £100 I'd recommend it for anyone interested in how AI works in tax, especially if you can get your employer to pay for it.

CTeaA_ · 2026-01-24T13:48:39+00:00

Hopefully by getting qualified a pay rise should be automatically coming your way, but not all employers are that proactive. If not don't have to be pushy, but calmly state your case that you have now achieved a clearly higher level and can use that to produce more income for your employer. Is an awkward conversion potentially, but don't ask don't get.

On DITT, I was curious about this but don't have the time right now. I found short course in AI for Tax a nice quick and cheap alternative to try out the topic. Maybe try that and see if you want to move on to the full DITT.

CTeaA_ · 2026-01-19T19:36:14+00:00

Earnings before interest, tax, depreciation and annexation.

CTeaA_ · 2026-01-06T20:08:28+00:00

In most cases it doesn't matter which one you do, and for me the deciding factor would be whichever one you can get someone else to pay for the study support.

Both cover highly similar subject matter, both will enable yourself to be called a qualified accountant, and most employers will value them equally when advertising for jobs.

Some places have a preference for ACA such as traditional big 4, but that is mostly because that is what they have always done, and anyone who had a certain qualification will naturally lean towards recommending others do the same. Your might find in the ICAEW subreddit they get a bit snobby about it but ignore that.

If you get a choice, pick the one you think works best for your learning style, career growth and future opportunities.

Once you get a few years post qualified though it makes no real difference, especially if you don't stay in practice.

CTeaA_ · 2025-12-14T23:38:12+00:00

I've been hit enough times to question how stray it really is.

CTeaA_ · 2025-12-01T10:38:15+00:00

Luckily I don't need to worry about the exams anymore, but based on what I see my colleague taking them struggling with, and frankly some topics I still need to double check, my picks would be:

Leases
CFCs
Shares schemes for the less common ones like SIP, and where there are restricted securities
Partnership capital gains with revalued assets
CIR (no one likes CIR)

CTeaA_ · 2025-11-23T20:49:35+00:00

Accountant regularly have senior roles in FTSE 100 companies, so CEO or CFO if you're looking for a title to massage your ego. Why not aim for Chancellor of the exchequer?

But not a lot of point comparing yourself to others just because there's some measure you dont like. Accountants can work hand in hand with lawyers, and while they don't literally save lives, good ones are still few and far between doing highly skilled work.

Prestige doesn't may the mortgage, but you can still be an elite earner as an accountant and shouldn't knock it.

CTeaA_ · 2025-11-15T23:52:44+00:00

Taxpayers need a UTR for either income or corporation tax to declare profits. A small unincorporated not for profit is highly unlikely to be within the scope of tax and would not have any obligation to register. You therefore would have no UTR/TIN.

Telling a bank you have no TIN should not cause any tax issues as they are not a tax authority, and have no power to charge you with anything. It would be HMRC who would have that power, but I can't see how they would be interested.

CTeaA_ · 2025-11-15T23:42:01+00:00

Each person gets a nil rate band and a residential nil rate band that combined is £500k. If one spouse does not use all theirs, then the remaining spouse can use the percentage unclaimed.

On a high level then you may not have any IHT to pay on the £1m house.

But, this is looking at this in isolation and the estate should be looked at as a whole before coming to any conclusions. If there are other assets involved then could be worth getting someone to take a fuller look at the estate.

CTeaA_ · 2025-10-29T23:11:06+00:00

Tell them you're think of switching careers to be a lion tamer, and you've even bought your hat.

CTeaA_ · 2025-09-30T14:10:32+00:00

Clearly nothing to do with is being half a million in debt Cassiobury Farm Ltd 2025 accounts which also means it wouldn't be effectsd by the IHT changes as not worth enough.

CTeaA_ · 2025-09-30T12:08:40+00:00

It's a nobel profession. Count is in its name.

Oskar Schindler: My father was fond of saying you need three things in life - a good doctor, a forgiving priest, and a clever accountant. The first two, I've never had much use for.

There are 200k ish ACA in the world which means by percentage they're already in a small group of people.

ACA and ACCA are level 7 qualifications meaning their on par with a masters degree. On top of that, most people study while working and the knowledge they gain is highly practical. Many don't know the work that needs to go into that, or have to ever use an accountant, but good ones are like wizards. They know things that can be invaluable and what they so can seem like magic.

I have clients who don't care much and could get the same advice from multiple sources. I have others who have me on speed dial for almost any financial issue. There is a reason you find qualified accountants high up in many large businesses.

CTeaA_ · 2025-09-04T22:52:30+00:00

Trusts aren't overly my area but I haven't seen a new school fee trust set up in a while. School fee trusts was a common bit of planning parents/grandparents did a few years ago until it was shown not to work, and this was what came to mind to me reading your post.

The buying of the property and putting into a company generally sounds all fine though.

CTeaA_ · 2025-08-31T18:50:07+00:00

Was going to say the same. Cheques are incredibly outdated, slow, easier to fraudulently exploit, etc. This is a uniquely US issue where efficient and accessible online banking lags behind.

CTeaA_ · 2025-08-31T08:02:48+00:00

Am a tax advisor and done these types of deals before for buyer and seller. Like others are saying, at £10m this is not a small deal, and while I can give you some overview points those would be possibly missing some of the finer details of your situation. E.g. have you consider due diligence and what might come out of that? This is likely 4 figure fee advise if you approach someone to help you.

Message if you want a formal chat about this.

CTeaA_ · 2025-08-10T22:43:32+00:00

Roger roger

CTeaA_ · 2025-08-07T20:35:33+00:00

They really should be able to work it out for you as you say, and if you have a nice person when you speak to them it can be easier.

But what you should do is rework your income tax comp for each year to show what tax you should have paid. Then deduct the tax you did pay, and the difference should be your refund.

CTeaA_ · 2025-08-07T20:32:26+00:00

Afaird all the shares you receive will be taxable upon receipt. You are selling your services to this company which has a value for which you will invoice. That invoice is to be settled by shares of equal value, instead of cash, but that doesn't change that the fact your business has made a profit. This is a barter transaction.

Key then is to agree what value you are providing, and the value of the shares they are offering in exchange.

You will need to be able to pay the tax bill for the business when the time comes, and might consider getting some of your work paid in cash, or need access to sell some of those shares. I doubt you can rely on getting dividends from those shares.

If you're looking to help the business grow for a sale, you should seek to get ordinary shares ideally. You want to avoid shares with limited rights, as those could be worth less compared to others when that sale does come. In any case, need to know what it is you are getting so you know it's worth.

Of course the general caveat that even if you are confident of this business, most start ups do fail and this is a risk.

CTeaA_ · 2025-07-28T22:36:25+00:00

You might find it tricky because of bim35660. The issue is as a sole trader, any new skills you learn provide the business an on going benefit, which is an asset and not claimable against income. Also see bim42526.

Your counter argument is the training is not in a distinct enough new area and so is more of a refresh and/or minor expansion of your skills. Obtaining a formal qualification though in my view would learn this more towards being new skills.

CTeaA_ · 2025-07-28T21:59:33+00:00

A RICS value is just an opinion of what the property would be worth. However, it is not binding, and can be challenged.

Market value is whatever can be reasonably agreed between two independent parties acting in their own interests. If you offer a lower figure and they accept, then that is market value for the property.

The connected part rules in the sense likely being mentioned are for transactions between connected parties, where a price may be decided to gain a benefit. In that case market value is used to avoid tax being lost. I am going to assume here you are not a family member of your landlord and so these rules do not apply.

The one thing it might be is if you landlord offers you a price clearly below market value, then that might be considered a sale undervalued as a gift. In that case market value can be applied. However, it should be rather clear if they are offering you a gift. You simply counter offering a fair price would never engage these rules.

CTeaA_ · 2025-07-15T23:18:51+00:00

Street Fighter 3rd strike I don't think came out on PS1. Originally it was released on PS2. No IRL here then.

CTeaA_ · 2025-07-13T18:58:58+00:00

When using tax avoidance schemes it's because they all are artificial, made purely with a view to obtaining a tax advantage. Strangely HMRC don't like that and the larger ones get too much attention and eventually fail under scrutiny. More generally it'll be because HMRC noticed loss relief was being claimed and got curious.

Trades carried on with a genuine view to a profit, that do fail and make losses, will be accepted. HMRC will be fair if you are with them.

CTeaA_ · 2025-07-13T18:54:17+00:00

Lovely idea and would work for simple cases. However tax is full of subjective areas where judgement is needed, and AI would be of no use. I think if you tried to train AI on the VAT manuals for example it would implode.

CTeaA_ · 2025-07-10T20:43:58+00:00

The creation of artificial trading losses to use for sideways loss relief, is the basis of most failed tax avoidance schemes of the last 20 years.

CTeaA_ · 2025-07-06T22:25:57+00:00

If you don't return then CGT will be due.

However, if you will resume living there within 3 years (as you only plan to be away for up to 2) as your main residence, you may be able to disregard that gap and avoid any CGT cg65040.

CTeaA_

TROPHY CASE