ICAS has introduced a new qualification - the ICAS Tax Professional qualification. The qualification has been created to meet the changing demands and needs of employers and students in the field of taxation. Both the structure and the syllabus content have been developed in consultation with tax practices, with the key aim of providing the relevant tax skills and knowledge required of a tax professional working in a varied client environment. Completion of the qualification will lead to the award of the designatory letters 'ITP'.
ITP can be taken as a standalone qualification or in combination with the CA qualification. When combined with the CA qualification, this offers the chance to achieve a dual accounting/tax qualification using a consistent approach provided by one institute. It will deliver the breadth of technical knowledge and the application of skills expected of a chartered accountant, coupled with deep tax knowledge and skills. The standalone qualification will have a primary focus on taxation, whilst also providing the building blocks of accounting and law required of a tax professional. The attached document shows the route to both dual and standalone qualification.
ITP is relevant both to tax professionals developing their knowledge and skills in the initial stages of their tax career, and also to those who have been working in tax for some time and wish to consolidate their knowledge and skills. The objective is to equip individuals with a breadth of knowledge of all key taxes, and a development of their skills to apply this knowledge to a client scenario. Depth of knowledge is delivered in the areas of Taxation of Individuals, Taxation of Companies and Indirect Taxation. This combination of breadth and depth of knowledge, and demonstration of professional skills, will be tested in the examinations.
ITP is supported by tax publishing and training experts Tolley. This builds on the key strengths of ICAS in developing highly regarded qualifications which are relevant to the market and on Tolley's excellent reputation for tax training.
Further information can be found on the following pages. If you would like to discuss ITP or training support in more detail, please contact Matthew Mills, Business Development Manager, CA Education at mmills@icas.org.uk or Simon Groom, Head of National Tax Training, Tolley Tax Training, at simon.groom@lexisnexis.co.uk.