#FollowExtraTaxTraining
This week our spotlight is shining on Catriona Loughran and her founding company ExtraTax Training which offers online training courses for tax professionals studying for the Advanced Diploma in International Tax (ADIT) qualification, awarded by the UK’s Chartered Institute of Taxation.
How would you describe yourself in 6 words or less?
International tax specialist turned training provider
What prompted you to start your business?
Wanting to spend more time with my dog…only half joking, it was one of many reasons! I have spent over 20 years working in the corporate world and was looking for a way to re-balance my priorities to give me more flexibility as I move through my next 20 working years.
Starting my business in the way I did was a bit of an accident. In 2019, I resigned from a good job after lining up a contract role to give me some breathing space to think about my next step. Unfortunately (or so it seemed at the time), the contract role fell through at the last minute. I could have rushed out to find another job, but I decided to take some to figure out what I wanted to do.
I liked the idea of starting a tax training business. Tax has become increasingly complex and it is challenging for tax professionals to keep up-to-date and continue enhancing their skills. Having worked in tax teams within businesses for many years, I’m passionate about business owners having a basic understanding of tax so that they know when to contact a professional for advice. And, when they contact a professional, ensuring that they are getting the best advice.
With the support of Women in Business and other organisations in Northern Ireland, I developed my business idea and launched ExtraTax Training in 2020.
Can you tell us a bit more about you?
I joined EY as a Law & Accounting graduate, training in their corporate tax department in Belfast. In addition to sitting my professional accountancy and tax exams, they put me through an excellent in-house tax development programme over my three-year training contract. I moved on from EY after five years, but the learning experience I had with them stayed with me and became a factor in creating my own tax training business.
After a spell in London, I returned to Belfast to join BDO, where I developed my knowledge of international tax. With their support, in 2008 I became the first person in Ireland to achieve the Advanced Diploma in International Tax (ADIT) qualification.
I left practice in 2009, moving to my first in-house tax role with a Canadian multinational. Apart from a few years in HM Revenue & Customs, I’ve worked in industry positions ever since, across US, UK & Irish groups. I enjoy working in businesses and helping them manage their tax risks. Every day is different and it allows me to apply my tax expertise in a very practical manner. To thrive in an in-house tax role, you must be able to talk tax to non-tax people in a way they can understand. Refining this skill over the years has placed me in a good position to explain complex tax topics to our students.
Outside of work, I enjoy getting out into the hills in Belfast and beyond for walks with friends and my dog, Cali. I find that there’s nothing like a walk to clear my head and generate fresh ideas.
Fill us in on your female founder journey and what would you like to share with the AwakenHub community?
I never thought of myself as an entrepreneur, or someone with a great desire to run their own business. When I originally thought about setting up a business, it was really about employing myself, not anyone else. How things have changed in only two years!
Since I started my female founder journey, I’m surprised by how much I enjoy all the different elements of it. Yes, it’s challenging and there have certainly been tough days. But overall it is a fantastic experience.
ExtraTax Training is just starting its third semester of ADIT exam training courses and has so far supported tax professionals in 18 different countries across four continents. We’ve build a small team of enthusiastic people ready to go the extra mile to help our students to succeed.
I am delighted by the support and encouragement of other founders, particularly amongst female founders in communities like AwakenHub. The positivity and willingness to help is amazing.
How has being part of the AwakenHub community helped your business?
In so many ways…to mention a few, being part of a community of female founders doing great things, sparking ideas for running and expanding my business, offering networking opportunities, and providing support from a highly experienced team.
Have you an ‘ask’ which we can share with fellow #Awakenhubbers
Yes...talk about us. Tell people how we are on a mission to make international tax expertise something to be excited about! You never know who we might inspire, or who might be interested in working with us as we support tax professionals all across the world to reach their potential. Plus, we want to encourage founders to understand how tax impacts their business – it’s too important to be ignored.
What is your founder values?
Attentive, Determined, Innovative.
Our aim is to provide flexible and engaging learning experiences to help candidates pass the ADIT exams. We believe in the strength and quality of the ADIT qualification and want to make it fully accessible to global tax professionals.
Twitter @TrainExtraTax
