You’re developing your tax career, and you keep hearing about the ADIT qualification. What is ADIT and why is it so prestigious? How do you go about getting started with ADIT?
ADIT is the Advanced Diploma in International Taxation, awarded by the UK’s Chartered Institute of Taxation. Attaining this certification is a great way to grow your international tax expertise. You can increase your professional standing by becoming an International Tax Affiliate of the Chartered Institute of Tax.
Getting started with ADIT
Register as an ADIT student with CIOT
The first step is to register online with the Chartered Institute of Taxation (CIOT) as an ADIT student. All you need is an email address! That’s right, no previous qualifications or experience are required. It costs £220 and your registration lasts for 5 years.
Students must be registered by a certain date before each exam sitting. You’ll find more details on the CIOT website here.
Choose your ADIT modules
Next, choose which modules you want to sit.
ADIT students must pass the compulsory Paper 1 (Principles of International Taxation), along with EITHER two optional modules OR one optional module and an extended essay.
The main exam sitting takes place in June each year, with the most popular options also available to sit in December. You can sit up to three papers at one time. However, that would be an enormous commitment in terms of preparation, and most people choose to sit one paper per session.
You can find information about each paper in the ADIT Prospectus. For a summary of the options, check out my blog post on what ADIT offers you.
Register for your ADIT exam(s)
Providing you are already registered as a student, you can register to sit an exam. This costs £200 per paper, and it is important to register before the deadline for each sitting as there is a penalty for late entries. There is more information here.
Start studying for ADIT
When you register for the exam, it is months away…but that time flies! It’s a good idea to get your study underway at least 3 months prior to the exam sitting. This gives you time to work through the topics, consolidate your knowledge, and still have time to practice, practice, practice with those past papers.
If you are planning to self-study, have a look at our blog post to guide you.
Understand the ADIT syllabus
The ADIT syllabus for your chosen module lists the ‘permitted texts’ which are the books you may use during the exam. These are essential purchases – you need to get familiar with them!
Each syllabus also contains a list of recommended texts. If you intend to undertake self-study, do some research on each of the books listed to decide which ones will be the best use of your time and money.
Get ADIT study support
To maximise your chance of ADIT success, you may decide to join an ADIT study programme. It is helpful to learn alongside your peers, so that you can discuss topics and share understanding and techniques.
Extratax Training is one of the recognised ADIT course providers. We guide you throughout the ADIT process – from getting started with ADIT to becoming an International Tax Affiliate. We offer comprehensive online study packages for:
https://extrataxtraining.com/wp-content/uploads/2021/12/Self-Studying-for-the-ADIT-UK-Tax-Certification.png10801620Catriona Loughranhttps://extrataxtraining.com/wp-content/uploads/2022/01/ExtraTax-Logo-for-Word-Header.pngCatriona Loughran2022-01-14 17:17:482022-01-14 17:17:48Getting Started with ADIT
Are you thinking about undertaking self-study for the ADIT UK Tax Certification? Find out how to plan for ADIT with these invaluable self-study tips.
If you’ve registered for ADIT (Advanced Diploma in International Taxation) the first step is to decide how you are going to study.
When it comes to studying for ADIT you can either opt for online courses, classroom courses or do your own self-study.
How long does it take to study ADIT?
Once you have registered you have five years in which to take your exams. With all papers examined in June and most of the popular modules examined in December, it’s possible to get your ADIT qualification in under 2 years.
To pass the ADIT qualification, you’ll need to pass Principles of International Taxation. This gives you a good foundation in international tax. You’ll learn about international tax law, residence, double taxation conventions and treaty interpretation transfer pricing, the work of the OECD and international tax avoidance.
You will also have to select two other jurisdiction and thematic modules, or an optional module and an extended essay.
Thematic options include Transfer Pricing or Banking or you could choose to study the tax system in your own country or countries like Hong Kong, US or Australia.
You can find a copy of the full 2022 ADIT syllabus on the Chartered Institute of Taxation’s website.
In our experience and that of our students, it can take around 4-5 months of studying for each paper, requiring approximately 5-7 hours each week.
Now you know what’s involved, how do you get started.
We’ve listed a few top tips to help you plan your ADIT self-study journey.
Get familiar with the ADIT syllabus
Before you dive into studying make sure you become familiar with the entire syllabus.
Then buy all the permitted texts early on.
There are also a lot of recommended books that can support your study. Before you buy, take some time to research which are the best ones for your learning journey.
Joining the ADIT Professional Group on LinkedIn is a good way to meet current and past ADIT students and ask for their advice.
Make an ADIT self-study plan
To achieve your ADIT goal, we highly recommend creating a study plan. Make sure you add in enough time for covering each subject in depth.
Leave 4 weeks for your revision phase. Revisit important topics, attempt past paper questions and work on your exam technique.
Don’t forget to plan in breaks. We find that keeping to regular mealtimes and keeping up with exercise routines can help you stay focussed and maintain your wellbeing while you’re studying.
Use video in your self-study
It can be good to have a break from constant reading and switch learning mediums.
Why not try ADIT YouTube videos. Watching videos can help immerse you in the subject matter much more than just reading printed materials. Your brain can respond much quicker to visuals and you are more likely to retain an image in your mind.
Study ADIT past papers
Studying past papers are a great way to ensure you are prepared for the format of the exam. Using ADIT past papers will get you used to the style of questions and how to plan your time accordingly.
In the UK Tax and other jurisdictional papers, you will be challenged on your ability to extract information from scenarios. Although your knowledge is key, knowing how to decipher the question and answer it to extract the maximum marks is also key.
Use past papers to practice how you will answer as well as what the answer is. For the best results, don’t passively read the questions and suggested solutions. Actively attempt the questions by writing out your response.
Practice your exam technique with your own mock exam
For the Principles of International Taxation exam, you will have a mix of essay questions and scenario questions. During your self-study time, make sure you plan in time to practice your exam technique.
For essays:
Structure your answer and make sure you answer every element
Don’t use long paragraphs. Make it easy for the examiner to see and check off each correct point you are making
Use bullet points to make your answers clearer
If you are working on ADIT UK Tax past papers or other case study questions then follow these useful tips:
Read and re-read the scenario, using a blank page to note any key facts and sketch out what is happening
Check what you are being asked to do. Some questions may lay out exactly what they are looking for, whereas others may be open-ended such as – ‘write an email to X advising on’
If there is an element you don’t understand, don’t be put off. Just focus on the bits you do know and then move on.
How to achieve ADIT success – UK Tax
If you are choosing to self-study for ADIT using only the textbooks and free resources, you may find you have a good theoretical understanding but not enough real-world examples that will help you in your exam.
It’s also a good idea to use different source material to build up your understanding of a syllabus topic.
ExtraTax Training provides a fully comprehensive online manual with study materials that cover the full ADIT UK syllabus in an engaging and easy-to-read way.
We also include lots of case studies, resources and support from international tax experts so you can be sure you have a complete perspective on each topic area.
Lorraine Nelson, International Tax Director at Grant Thornton
James Heathcote, Private Client Director at Lancaster Knox
Jane Lee, Head of Employer Solutions at Grant Thornton
Hannah Hurley, Corporate Tax at Blick Rothenberg
Ciaran McGee, VAT Specialist and Founder at CJM Chartered Tax Advisers
Sarah Blakelock, international tax and dispute resolution advisor
While self-study is an excellent way of preparing for your ADIT exams, supplementing it with a specific ADIT study manual focussed on exam success could dramatically improve your chances. With ExtraTax we offer distance learning support as well as access to a tutor. You get the benefit of self-paced study while being able to clarify your understanding with an expert and join our revision classes.
This includes an online study manual + mock exams + tutor support + revision classes.
ExtraTax Training is one of the recognised ADIT course providers. We offer comprehensive online study packages with live webinars or self-paced distance learning.
https://extrataxtraining.com/wp-content/uploads/2021/12/How-to-Plan-to-Self-Study-for-ADIT-UK-Tax.png388746Julietta Watsonhttps://extrataxtraining.com/wp-content/uploads/2022/01/ExtraTax-Logo-for-Word-Header.pngJulietta Watson2021-12-28 08:44:142021-12-29 10:46:18How to Self-Study for the ADIT UK Tax Certification
The ADIT exams are here! We’ve compiled a video of ADIT exam tips from our experienced ADIT tutors to help you perform at your best on exam day.
A – Answer the Question
An obvious one to start with, you need to answer the question. You know it’s what you must do. But in the exam, it’s easy to misread the question or tempting to answer a question that you wanted to be on the paper, rather than the one that’s there. Focus on answering all the elements of the question in front of you.
D – Don’t Panic!
Easier said than done, but keeping calm will help you succeed. With online exams, you’re in your own space where you feel comfortable, not squashed into an exam hall with other students. So this gives you an opportunity to pause, breathe deeply and restore calm if you feel yourself starting to get stressed.
I – Identify the Issues
To succeed, you must accurately identify the issues in the question. Look at the requirements, what are you being asked to do? In the scenario questions, look carefully at each piece of information provided and think ‘why am I being told this information?’ By identifying the issues and addressing them, you’ll be able to demonstrate to the examiner that you have the knowledge and, importantly, know how to apply it.
T – Timing
Timing is crucial! Think of the ADIT exam like the ‘Bake Off’ shows – it’s not simply a test of baking a fantastic cake, it’s a test of doing so in the limited time allotted. You need to be stringent with your time – you’ve got 1.8 minutes per mark, that’s all. Keep a very close eye on your time and, once it’s up, move on!
ADIT Exam Tips Video
Watch Catriona Loughran discuss each of these A-D-I-T exam tips to help you achieve ADIT success.
Follow us on social media to keep up to date with our ADIT blogs. And don’t be shy, please say hello and let us guide you to ADIT success!
Congratulations to the Chartered Institute of Taxation on the launch of their new website!
We have obviously had a good read through the Advanced Diploma in International Taxation (ADIT) content. Here’s a catalogue of links to information which you might find helpful, whatever stage you are at on your ADIT journey.
It is possible to achieve a certification as a step to, or instead of, the full ADIT qualification. Find out more about this option here www.tax.org.uk/adit/certificates
You must be registered as an ADIT student before you can enter for an ADIT exam.
Details on how to register as an ADIT student are here www.tax.org.uk/adit/register
Student registration, which is valid for 5 years, costs £215.
Details on how to register for an exam can be found at www.tax.org.uk/adit/exam-entry
Entering for an ADIT exam currently costs £195.
You may find it helpful to use the exam timetable to plan when to sit the exams you have chosen. The timetable for 2021-22 exam sittings is here www.tax.org.uk/adit/exam-timetable
ADIT have helpfully listed study course providers alongside each module on this page www.tax.org.uk/adit/course-providers
This will enable you to find out which providers can support you on your journey.
Look out for Extratax Training on the online list for Principles of International Tax, UK Taxation, US Taxation and Transfer Pricing!
The exam will take place online, via the Exam4 software. You should download and install this well in advance of the exam, and take time to familiarise yourself with it. Instructions, more information, and a helpful video guide can be found here www.tax.org.uk/adit/using-exam4
We wrote a blog with some tips from students who have previously sat the ADIT exams online. You can find that on our Extratax news page.
At present, ADIT exams are all held online. ADIT have released a detailed set of rules to help you understand what is expected of candidates sitting their ADIT exam. These ADIT online exam rules are here www.tax.org.uk/adit/online-exam-rules
ADIT have also prepared an Exam4 troubleshooting guide, in case you have technology troubles on the day. You will find this here and, like the other guidance on this page, we recommend you read it well before the exam!
As you are aware, candidates may have access to permitted texts during the exam. This is the guidance on what these are, and how you may use them www.tax.org.uk/adit/permitted-books
Thinking about the exam itself, it is helpful to know what to expect on the day…
Make sure you launch Exam4 about an hour before your exam is due to start. You need to give yourself plenty of time to get set up, to verify your ID, and to get comfortable!
All ADIT exams in the June 2021 sitting will take place online.
This means you may sit your ADIT exams anywhere in the world, providing there is an internet connection available! And, yes, that includes your own home, which has the benefit of cutting out the worry and cost of travel to an unfamiliar examination centre on the day.
For many ADIT candidates, sitting an online exam is likely to be a new experience. It is always helpful to hear from others who have been through a process before you, and to learn from their advice.
We asked some of our Extratax Training students who sat the December 2020 online ADIT exams to offer you tips on how to be well prepared, so we’ll sharing those with you here!
Using the Exam4 software
Most importantly, you will need the Exam4 software to download, complete, and submit your exam.
You will receive an email from CIOT with a link and instructions on how to download the Exam4 software on Thursday 13 May. You should download this as soon as you can and test it out. There are several mock exams from past years which you can use as practice.
The software shows the exam paper on one half of the screen and allows you to type your answers on the other half.
One of our students found that their screen did not display the full text of the exam questions. However, they could see enough to understand the questions so, when they realised they were unable to resolve the problem, they carried on with the exam. They successfully completed (and passed!) the exam as it was displayed.
Their advice is to test the software in advance. They suggest that, if minor technical problems happen on the day, you should not waste precious time trying to fix them if it is possible for you to work with the information available.
Our students have highlighted that you need to remember to keep track of time. Exam4 will not display reminders or tell you when your exam has finished.
Plan how much time you should spend on each question, depending on the marks available. Be sure to stick to these time limits, to give yourself the best possible chance to attempt every questions.
Typing tips
If you are adept at typing, there are several benefits of sitting the exam online!
If you’re not used to typing, our students suggest you do practice questions and mock exams using your computer. This will give you a good idea of how long it takes you to type answers to questions. Use bullet points if it helps you to make the best use of time.
Examination answers should be neat, with adequate spacing. Short paragraphs or bullet points work well. You are likely to find typing answers more straightforward than having to handwrite (scribble!) your answers on to an exam paper.
You can easily go back and add to your answer without having to use tiny writing to fit into the existing space or draw arrows over the page to try to tell the examiner which bit to read next.
If you realise you have made a mistake you can delete and correct it, rather than having to cross it out in a handwritten paper.
The Exam4 software has a spelling corrector, so students recommend using it to check for errors before submitting the exam.
These features will make your answers quicker to check, and easier for the examiner to read your online ADIT exam.
Practise your exam technique
Our students agreed that sitting past papers, in timed exam conditions, made a huge difference to how well prepared they were. It gave them the opportunity to manage their time, apply their knowledge, and type their answers.
Practising past papers in exam conditions is good advice when preparing for any exam!
Internet Access
You do not need to remain online for the duration of the timed exam. You will require access to an internet connection to download the exam and to submit your completed exam paper at the end.
One of our students told us that their internet connection failed on the day of the exam. They recommend that you have a backup plan in case this happens! If you can connect to the internet through your cell phone, this is a good backup plan.
And finally, on the day…
Your online ADIT exam will commence at 10am local time on the day of your paper.
Advice from our students is to have your registry number easily accessible, and register early.
Make sure there are no distractions in the room where you will sit the exam, and that there is a clock you can easily see. Clear your desk and consider having a drink in a container with a lid, so that it isn’t likely to spill on your device.
Take a deep breath, read the questions thoroughly, and get started. All that preparation you have done will make the process so much more straightforward. Good luck!
To find out more about our Extratax Training online and distance learning ADIT study programmes, visit our website.
We’re always happy to answer questions about our online ADIT training courses and give you the benefit of our ADIT experience. Email us at info@extrataxtraining.com or start a conversation with our founder, Catriona Loughran, on LinkedIn.
The 11th Joint International Tax Conference is taking place online on 30 & 31 March 2021. This is a fantastic opportunity for ADIT graduates and candidates around the world to enhance their international tax knowledge.
*Please note – this event has now taken place. A conference report & details of how to purchase recordings from the event are available by clicking here.*
The event, chaired by Jonathan Schwarz of Temple Tax Chambers, is delivered digitally by Kings College London, The Chartered Institute of Taxation, ADIT, and the International Fiscal Association’s UK branch. The conference will start at 1pm on both days, making it accessible in multiple time zones.
Ionna Mitroyanni (Deputy Head, Company Taxation Initiatives, DG TAXUD, EU Commission) will give her keynote address on Tuesday 30th March at 1:15pm. The conference will then focus on Tax Aspects of UK Future Trading Relations, followed by a session at 3.30pm on Post Brexit-VAT.
On day two, the conference opens with a panel discussion of Recent Transfer Pricing and Permanent Establishment cases. The speakers at the 3.15pm session will talk about Taxation and the Digital Economy.
Peter Blessing (Associate Chief Counsel (International), US Internal Revenue Service) is closing the conference at 4.45pm with a keynote speech.
This is a great opportunity to hear first hand from leading tax practitioners as they discuss emerging international tax topics. Come and join us online for this outstanding international tax conference.
This article discusses the permitted text books for the ADIT International Tax exams.
ADIT Permitted Text
The syllabus for each ADIT module lists books which you are permitted to bring into the exam hall to use as reference materials during the examinations (known as a Permitted Book or Permitted Text). You should include the costs of buying at least some of these Permitted Texts when evaluating the costs associated with ADIT.
It is possible to obtain free online copies of some of the materials, e.g. the UN Model Convention & Commentary, to use in your studies. However, it is not possible to bring printed versions of these materials into the exam centre, as all Permitted Texts must be bound books.
As a minimum, you should purchase the latest version of the relevant volumes of ‘Materials on International, TP and EU Tax Law’ by Kees Van Raad. These are available to buy from the International Tax Center Leiden‘s webshop at https://webshop.itc-leiden.nl/.
The volumes and current prices for the Kees Van Raad materials are:
Volume C1 – contains EU texts, including the full text of the Treaty on the Functioning of the European Union, updated texts of various Directives and 65 decisions of the EU Court of Justice relating to income tax issues from the period July 2016 – April 2018. A full table of contents is available here.
Price: €45
Volume C2 – contains decisions of the EU Court of Justice relating to income tax issues from January 1986 to July 2014. A full table of contents is available here.
Price: €40
Volume A is essential for Principles of International Taxation and many of the optional ADIT papers, including the jurisdictional options. Volume B is essential for the Transfer Pricing module. Volumes C1 & c2 are essential for the EU Direct Taxation module.
Buying all four volumes of Materials on International, TP and EU Tax Law currently costs €190 plus postage. These materials are a good investment for any practitioner of international tax, whether or not studying for ADIT.
We’re always happy to answer questions about our online ADIT training courses and give you the benefit of our ADIT experience. Email us at info@extrataxtraining.com or start a conversation with our founder, Catriona Loughran, on LinkedIn.
you might be considering an ADIT resit this summer?
We’re sharing our advice and tips for passing the ADIT exams to help you succeed! *Please note – this article was edited on 27 April 2021 to include updated content*
1. Don’t be disheartened
Everyone can have a bad day! In the exam, every second counts. Anything that slows you down can affect your results.
It’s a good idea to think about what affected you. Then work out what you can do about those factors, and get ready to try again.
If you weren’t familiar with the exam software, and got distracted trying to use it, then note down the things you struggled with and log in again to familiarise yourself with its features.
Perhaps you found it difficult to keep an eye on the time, and couldn’t attempt all the questions. Or you spent too long on the lower mark questions, and had to rush through the more complex scenarios. As part of your preparation, be sure to sit past papers in exam conditions – great time management practice.
Maybe you just had a terrible day. If you had been ill, lost sleep, or were preoccupied with other pressures, you might not have been in the right headspace to draw on your knowledge and apply it to the questions.
Whatever the cause, if you know that you can succeed, then it is worth giving it another go!
2. Make a study plan
There is still time before the June exams, if your resit takes place then, and exam entries for the December 2021 sitting open on 30 April and must be submitted by 16 September 2021.
You might have already read our helpful guide for getting ‘Ready, Steady, Go’ to study again, published on the CIOT website? If not, you can access it here. It is full of practical advice and tips for getting into good study habits as you prepare for your next exam.
3. Find resources to support your study
You probably invested considerable time and effort in preparing for the exam, and are finding it hard to get motivated again. Why not look for different resources to support your study? You could find new and interesting ways to test the application of your knowledge.
You can access ADIT past papers on the CIOT website here, and scripts from some of the successful December 2020 candidates have also been made available. There are discussion groups on social media, such as the ADIT Professional Group on LinkedIn, where you will find others in your peer group who are tackling the same issues and sharing their learning.
At Extratax Training, we publish a weekly ADITextra blog. This summarises what’s been taught and discussed in our live online classes. You’ll find updates from our sessions on Principles of International Tax (Module 1); UK Paper (Module 2.09); US Paper (Module 2.10); and the Transfer Pricing Paper (3.03). You can also subscribe to our YouTube channel to watch parts of our classes covering key topics.
This is a great way to benchmark your own learning and check you’re progressing. Follow us on Twitter @TrainExtratax and LinkedIn @Extratax Training to keep up to date with our blogs and advice.
4. Go for it
Commit to a regular study schedule and don’t get distracted.
Get used to typing as you think, rather than writing on paper.
Practice, practice, practice your exam technique by attempting past questions in exam conditions – timed, and with only permitted texts.
Spend time familiarising yourself with the Exam4 software (we’ll soon be posting advice from our past students on using Exam4, so keep an eye out for that!).
Most importantly, remember to take regular breaks from studying. Step away from the books to go for a walk, catch up with a friend, even just to have a drink of water, and come back refreshed and ready to get to grips with the material again!
Good luck with your ADIT exam!
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If you’d like to join an Extratax Training study programme in preparation for your ADIT exams, get in touch. You can:
We’re committed to supporting every one of our ADIT candidates on their professional journey.
We believe the best way to do this is to find out what you need to succeed, and to provide it!
See what our students had to say on:
Choosing an ADIT study provider
I wanted someone to guide me as I had no clue about international tax or the ADIT Program. Catriona’s openness, willingness to listen and give advice to a complete stranger, whilst not marketing her firm, convinced me to train with Extratax. It ended up being one of my best decisions in 2020.
Everyone is unique. At Extratax Training we appreciate that the process of learning is different for each individual. We are very open about the style of tuition and study support that we provide, so that prospective students understand the commitment involved before they book their place.
Course logistics
Start the course earlier as the time is too short to exams, especially to allow students without practical background time to catch up.
In response to this feedback, we extended the length of some of our live online classes this year, and included a mid-semester break, as well as the revision weeks we already include at the end of each course.
Most of our students are juggling a career alongside their family commitments. We want to ensure the Extratax Training programme helps you to enhance your professional development in the most manageable and enjoyable (!) way possible.
The structure of the course was extremely beneficial for myself. It helped me to keep on with studies during extremely busy time at work
We spread the live online tuition across a 10 week timetable, and make the slides and recordings of these sessions available for students until the end of the semester. This aids revision and allows everyone to catch up, or consolidate learning, at your own pace.
Tuition & exam practice
Participation from the rest of the students is really helpful because they sometimes bring a different perspective.
Our tutors set assignments and mock exam questions throughout the semester, which are marked and returned. Everyone is encouraged to ask questions in the live classes, to share experiences and knowledge with their fellow tax students, and seek one to one support from their tutor when they need it.
I liked the ability to ask questions right on spot during classes…
Our expertise
The faculty is a big strength in Extratax – very knowledgeable not only on tax but knowing the ADIT program inside out. The advice shared by the Director, who herself is ADIT qualified, was invaluable to me as someone without previous understanding of the programme or the content.
Catriona Loughran and James Ryan lead and teach our ADIT exam study programmes. Both are experienced international tax professionals, with outstanding practical knowledge in their field. You can find out more about them on our website.
You’ve heard enough from us!
We’ll give our students the final say…
“I am a 20 years Professor of International Tax Law in Mexico. Finding Extratax Training to prepare me for the ADIT exams was a blessing! They give great personalized teaching, with in-depth information, well organized and up to date.”
“Well structured course with plenty of useful practical tips.”
“I love how, as someone with no previous UK Tax experience or knowledge, the course made it possible for me to actually really understand and grasp the concepts.”
“After the course, I am not only feeling that I am ready for the exam but also see extreme improvements in my technical expertise that I can apply right on spot at my job.”
“The ADIT tutors are very knowledgeable and present the materials and theoretical concepts in a way to facilitate understanding much more easily than just reading them.”
“The classes and e-book are all you need to excel in your exam.
Thanks Catriona & team!!!”
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If you’d like to join an Extratax Training study programme in preparation for your ADIT exams, get in touch.
Welcome to ADITextra – the new blog for ADIT students from Extratax Training. Here you’ll find out what’s been happening in our online ADIT courses each week.
You’ll learn more about our study programmes and how we support your ADIT journey. And if you’ve chosen the self-study option for your international tax exams, you can follow our training schedules as a guide to keep you on target.
Each week, we’ll select a key topic from one of the classes for the Spotlight section. We’re starting with Fundamental Sources, Part I of the Transfer Pricing syllabus. Find more information and watch part of the lecture in Section 5 below.
The live tuition classes for the June 2021 exam session started this week. The exams are four months away – it might seem like a long time, but the weeks will soon pass and it’s important for you to get started as soon as you can.
If you’ve registered as a candidate for the Advanced Diploma in International Tax, but are not sure where to start, check out our blog on your first steps.
1. Transfer Pricing
We kicked off the semester on Tuesday with the ADIT Transfer Pricing module, taught by James (Jimmy) Ryan. Jimmy has a wealth of knowledge about transfer pricing. In addition, he’s highly engaging and invests in his own continuous learning to share the latest information with his students. Firstly, he gave a warm welcome to his new ADIT students.
After setting the scene, Jimmy dived into the ADIT syllabus, covering fundamental sources. Then he moved on to introduce the core transfer pricing principles of ‘associated enterprises’, the ‘arm’s length principle’ and comparability. This week, the spotlight is on fundamental source for transfer pricing. Check out Section 5 below to learn more and watch part of the class.
It wasn’t long until we received our first piece of feedback. During the class break, one of the students emailed to say “Jimmy is great!” That’s what we love to hear, as it’s all about delivering a valuable training experience to ADIT candidates.
Recording of Live Classes
Once the live class ends, it is Holly’s time to shine. Holly is the course co-ordinator and uses her video editing skills to turn the two-hour live class into four bitesize videos. Our students can watch the videos any time, and as often as they like, to improve their understanding or revisit a key topic.
There’s still time for you to join the Transfer Pricing course – we’re accepting bookings until 8 March. You can catch up on the classes by watching the recordings and you’ll have one-to-one access to Jimmy and the team to get you fully up to speed.
Jimmy was back on Wednesday to begin this semester’s Principles of International Tax course. Straightaway, he greeted the brand new students to Extratax Training and welcomed back some familiar faces from the 2020 Transfer Pricing class.
After an introduction to the course, Jimmy explained the legal concepts around jurisdiction to tax – i.e. how do you assess a state’s jurisdiction to tax an individual or entity? Of course, he quickly referred to the OECD’s Model Tax Convention. Obviously, understanding the Model Tax Convention and its impact on international tax is fundamental to the course.
One of Jimmy’s key skills is explaining international tax case law, summarising the facts and highlighting the importance of the decision. As the class progressed, he discussed significant cases in this area, including the UK Court of Appeal’s decision in Jimenez -v- HMRC.
Then Jimmy shared an overview of the topics to be covered in more detail in later sessions. These are the foundations for understanding and applying international tax law – source taxation, personal residence, domicile, corporate residence and treaty tie-breakers on residence.
After the Online Class
At Extratax Training, we focus on bringing tax professionals from around the world together into a global community. So it was fantastic to see the Principles of International Tax participants immediately starting to use our learning portal to ask the tutors questions and support each other through their ADIT studies.
Naturally, the learning doesn’t stop when the class ends. In order to succeed, the participants have to spend time on recommended reading for this week’s topics and prepare their first weekly assignment. It’s important to balance reading the permitted texts, and other materials, with practicing questions. Above all, we help you focus on the fundamental areas to study and improve your exam technique.
It’s not too late for you to join the Principles of International Tax course – you can book online until 8 March. And don’t worry, you can catch up on the classes by watching the recordings. Plus you’ll have one-to-one access to Jimmy and the team to get you fully up to speed.
Next, it was time for the UK Tax class on Thursday. Our founder, Catriona Loughran, is the lead tutor for this course. She’s an experienced UK & international tax specialist, with over 20 years’ experience spanning professional practice, HM Revenue & Customs and in-house tax for multinationals.
Our UK Tax course is designed to be suitable for tax professionals with little or no UK tax experience. We love bringing together candidates from across the globe to study the UK module. Therefore, it was fantastic to welcome ADIT students from the United States, Netherlands and Zambia, along with their UK counterparts.
The United Kingdom
So, where do you start with the ADIT UK module when the syllabus is so broad? Well, Catriona started by looking at the United Kingdom itself. If you’re from the UK, you probably assume that everyone knows which territories form part of the UK, but do they? England, Wales, Scotland and Northern Ireland are the easy ones, but what about, say, the Isle of Man? It could well feature in an ADIT exam question. So, it’s important to know that, while it is deemed to be part of the UK for VAT purposes, it’s otherwise a separate state. It has its own tax laws and double taxation agreements with the UK.
Because this was an introductory session, the focus was on giving an overview of key topics to be covered in future weeks. As you might expect, there was a high degree of overlap with Jimmy’s Principles of International Tax topics – double taxation, source taxation, personal residence, domicile, corporate residence and treaty tie-breakers on residence – but considered from a UK perspective.
The ADIT UK Tax syllabus states that candidates are expected to have some understanding of the major UK treaties, with the US, Netherlands, France and Germany mentioned in particular. Therefore, Catriona makes sure that she references the terms of these treaties when discussing subjects such as the implementation of the Multilateral Instrument in the UK.
Interactive Learning
Thursday’s class was an engaging and interactive session. The participants benefitted from being part of a small learning group, asking questions when they wanted Catriona to clarify a point or give an example to illustrate a concept.
Extratax Training has produced its own set of e-learning materials, written specifically for UK Module 2.09 by leading international tax experts. After the class, Catriona set the chapters to be completed this week, along with the first weekly assignment. There’s a Brexit theme this time, as the students have to advise a UK plc on repatriating funds from its German subsidiary pre- and post-31 December 2020.
You can still choose to join the UK class – the deadline to book is 8 March. You can catch up on the classes by watching the recordings. Plus you’ll have one-to-one access to Catriona and the team to get you fully up to speed.
Although there were no classes on Friday, it was a great day for ADIT education! Catriona engaged an excellent US & international tax practitioner to lecture the ADIT US Tax module. We’re excited to be able to welcome ADIT students studying US Tax for the first time.
Live online classes are starting on Thursday 11 March. Follow us on LinkedIn, as we’ll reveal more in the coming weeks.
As the US Module 2.10 is new to our portfolio, we’re offering you the opportunity to book for June 2021 at a special introductory rate.
5. Spotlight on Transfer Pricing – Fundamental Sources
Each week, we’ll put the spotlight on a topic covered in one of our classes. Firstly, let’s look at Fundamental Sources from the Transfer Pricing course.
In addition, don’t forget about the new Chapter X of the Transfer Pricing Guidelines – Transfer Pricing Guidance on Financial Transactions. The OECD released this report in February 2020. As new guidance, it is highly examinable. You should make sure that you understand the guidance and its application.
The syllabus lists the report as a Permitted Text for the Transfer Pricing exam, so you can bring an authorised copy into your exam room and refer to it in your answers. However, you won’t gain any marks by copying from the text. To pass, you’ll need to be able to discuss it and apply it to a scenario.
Article 9 – Associated Enterprises
Watch this excerpt from this week’s Transfer Pricing class to learn about Article 9 of the OECD Model Tax Convention. Also, you’ll hear Jimmy give a succinct definition of transfer pricing. Learning to explain complex topics in a concise manner is a key skill to master for the ADIT exams.
There’s still time to join our Transfer Pricing course – book today and let us guide you to ADIT success.
Follow us on social media to keep up to date with our ADIT blogs. And don’t be shy, please say hello, our door is always open to welcome ADIT students from around the world!
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