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Post Info TOPIC: Refreshing tax knowledge
David Ballantyne


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Refreshing tax knowledge
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Hi all,

I am currently an AAT MIP, but I am not currently authorised to do self assessment tax returns for sole traders and partnerships or corporation tax.

As part of working towards resolving this I am working through the Osborne tax texts for the AAT syllabus.

What I want to know is whether this is adequate preparation to provide tax services to sole traders, partnerships and small limited companies?  Should I be working through more advanced, in depth texts?

Kind regards,

David.



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Peaman


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I would say no.

I have taken both the AAT and ATT exams and the AAT was considerably more basic than the ATT.

The ATT personal and business taxation units are much more helpful if you want to improve your skills enough to be comfortable to practice in these areas.

If you don't want to take the ATT exams (I don't blame you), go on Amazon or eBay and buy the BPP personal and business taxation study texts. It doesn't matter if they are a year or so old, they will still be very useful (and cheaper!).



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Richard 
wellbalanced


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I'm going to dive in on this thread as well... What's the best way to stay up to date on tax rules etc? I've done basic tax returns before but not confident with doing it for clients!


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Shamus


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I use Taxation by Alan Melville (about £40 a year) and the Kaplan study text for ACCA paper P6 (About £35 per year).

Actually, thats an exageration as I now alternate the two rather than buying both every year.

HTH,

Shaun.

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Shaun

Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
NickCraggs


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Hi,

I did the ATT and it was a really good level of knowledge I feel.  It does go further than the AAT but i think that this is the level of knowledge required, especially if you are touching ltd Co.

The AAT tax knowledge (in my opinion) for sole traders and parternships, but there is quite a lot not covered by the AAT in relation to Ltd co.

Kind regards

Nick



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Nick 

Nick Craggs FMAAT ACA  AAT Distance Learning Manager

@nickcraggs 

BKN Tutor of the Year 2013 & 2015


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MarkS


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I tend to get ICAS's Tax Module at TPS level each year but usually never get round to looking at it in detail.

Good clear explanation with questions at the end of each chapter.

Which reminds me better put a call into them next week to get 2015/16 edition.



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Mark Stewart CA

http://stewartaccounting.co.uk/

Providing accounting, bookkeeping, payroll and tax services to small and medium sized businesses across Central Scotland and beyond.
David Ballantyne


Senior Member

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Date:
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Hello,

Thank you all for your responses.

I think once I have completed the AAT texts, I will start working through the ATT texts.

Shaun, someone on the AAT forum recommended the Tolley's Tax Guide, however it is twice the price of the Melville guide so I intend to go with the Melville text.

Many thanks,

David.



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