Two consultants from the Cambridge office of chartered accountants Price Bailey have excelled in the recent Chartered Institute of Tax (CIOT) exams, which are recognised as the leading qualification for tax professionals.
Senior Tax Manager Richard Grimster passed all Chartered Tax Advisor (CTA) papers in one sitting, obtaining one of only 21 distinctions in the Advanced Corporate Tax Advisory paper from the 1,461 people who sat one or more exams.
Maria Ile is a Supervisor in the tax consulting team and passed both papers she sat. She will have one more exam to sit in May before she also becomes both a chartered accountant and chartered tax adviser at just 27 years old.
Both candidates were already members of the Institute of Chartered Accountants in England and Wales (ICAEW) and have been integral in the growth and success of the Price Bailey advisory team in the last couple of years.
About his results Rich said: “I really enjoyed the academic challenge the CTA papers provided and they are really tough. You need a lot of practical experience and knowledge to attempt these and the icing on the cake was to help put both my own and Price Bailey’s name on the honours list!”
“We have more than 25 advisers helping businesses in East Anglia and London with bespoke tax planning and so are well placed to compliment the wider Price Bailey teams who provide accounting and assurance, payroll, financing, investment and legal advice,” said Charles Olley, Head of Tax at Price Bailey. “Maria and Rich have done really well in demonstrating the quality we have in our team and I have no doubt they will continue to impress our clients with their abilities.”
The CIOT exams are written exams which allow candidates to take in all eight books of current UK tax law to assist with the highly technical nature of the papers. In order to pass candidates have to demonstrate a great knowledge of the tax and case law. They must also interpret tax law in specific scenarios, and advise clients on the possible outcomes while making recommendations on which option is best. This is similar to how the candidates operate in their careers.