In today’s world this is a solid qualification, and with the ever changing taxation world, something that I suspect many students have looked, but having looked at
the entry qualifications appears to be quite difficult to enter into.
If you are a member of one of the major accounting bodies then you can apply for student membership, but if not the hurdles are high and numerous.
I took a look at this as for a friend who was thinking this was a good career choice and this is the way of registering as a student outside of the quals. I mentioned above:
If you have completed a BA (Hons) Accounting and 5. Taxation, LLB (Hons) Business and Revenue Law, LLB (Hons) Law with Taxation or LLB (Hons) Revenue Law from Bournemouth University. If you have passed the BCL/MJur from the University of Oxford having taken two of the following three courses:
- Dissertation on a tax topic
- Personal Taxation
- Corporate and Business Taxation
If you have completed the previous Intercollegiate LLM (Tax) from the University of London or the LLM (Tax) from Queen Mary or Kings (both University of London).
If you have passed the MA in Taxation at the Institute of Advanced Legal Studies, School of Advanced Studies, London University.
If you have completed The Chartered Insurance Institute’s Advanced Diploma in Financial Planning.
If you are engaged under a training contract with an employer and are following that employer’s tax training programme which has been approved for this purpose by The Chartered Institute of Taxation. As a minimum this will require preparatory training and examinations in UK taxation, accounting and law of a standard at least comparable to the examinations of the Association of Taxation Technicians
It does appear that the university route is limited and that other routes are quite restrictive.
Even after qualifying you need to practice taxation for 3 years before you can have full membership of the Institute.
My own view on talking to my friend was don’t bother as the effort exceeds the rewards as if you area qualified accountant you can still practice and specialise in taxation.
Whilst I recognise this qualification is very useful I do just think that there are too many barriers and the entry rules should be slackened.
What are peoples thoughts?