Professional Accounting / Tax Technician Higher Apprenticeship Level 4

Individuals in the role of a Professional Accounting / Tax Technician will have responsibility for creating, and / or verifying and reviewing, accurate and timely financial information within the organisation in which they are employed or on behalf of another organisation. This will be performed in order to meet relevant ethical, professional and legal standards, and will utilise the individual’s knowledge of the business systems and processes, as well as standard accounting and tax practices. This role may exist in an accounting practice, a professional services company, HMRC or the accounting function of a business or other organisation.

This apprenticeship standard is at Level 4. The funding available will allow students to achieve the Advanced Diploma in Accounting as their on-programme learning, if the training provider and employer feel this is appropriate.

The ACCA Accounting Technician Apprenticeship draws on the early units of our world-class professional qualification, giving your apprentices interactive lessons, and access to a tutor and an online community of fellow students. Professional Accounting/Tax Technician apprentices will study and be examined on three subject areas:

Accountant in Business

Financial Accounting

Management Accounting

Apprentices will also take ACCA’s Foundations in Professionalism online module, which will help them develop their understanding of what it means to act professionally and ethically in the work they carry out

Information for Applicants

What knowledge and skills are covered?

The Professional Accounting / Tax Technician Apprenticeship will consist of:

The apprenticeship will cover three main subject areas each delivered over a 14 week period with an online exam:

Accountant in Business

Financial Accounting

Management Accounting

You’ll also take ACCA’s Foundations in Professionalism online module, which will help you to understand what it means to act professionally and ethically in your job.

What are the entry requirements?

Apprentices will be required to have completed a Level 3 apprenticeship in accounting or AAT level 3 diploma or a business degree which covered accounting modules. Apprentices will need to be employed for a minimum of 30 hours in a suitable work placement. Individual employers will set the selection criteria.

How often do I have to attend college?

College attendance of 6 hours weekly for a teaching session will be required over the 18 months of the course.

How will I be assessed?

Regular progress reviews throughout the programme which will also include your employer

For Apprentices following the Examination Route they will attempt Examinations set and marked by ACCA for their approved qualification at suitable points in their Apprenticeship, as agreed between the Apprentice and their Employer.

All Apprentices will be required to maintain evidence of their work, via their Training Log, over the On-programme Assessment stage, which will contribute towards a Portfolio, submitted at the end of the Apprenticeship. The Portfolio will form part of the End-point Assessment.

The end point assessment will consist of two parts.

A Portfolio of evidence that demonstrates competence in the Knowledge, Skills and Behaviours defined in the Standard, which have been gathered from practical experience in the workplace. This can include outputs from work, independent feedback, observations and professional discussions. The Apprentice must then produce a Reflective Statement that reflects on this Portfolio, either through a written statement, presentation or structured discussion with Independent Assessors appointed by an Assessment Organisation.

A Role Simulation giving the Apprentice the opportunity to tackle a series of business-related tasks through a simulation that reflects activities undertaken in a typical role at this level of competence.

What can I do next?

Completion of the Professional Accounting/Tax Technician Apprenticeship may lead to the candidate receiving credits towards the completion of the Professional Accountant/Tax Apprenticeship or Chartered Accountancy/Taxation qualifications provided by the relevant Professional Bodies. Completion of the Professional Accounting/Tax Technician Apprenticeship may also result in credits being awarded towards relevant undergraduate degree programmes.

Information for Employers

How can I fit this apprentice into my business?

Fill your skills gaps: an Apprentice’s training is tailored to your organisation’s needs, resulting in a loyal, motivated work force an ncrease productivity by developing staff skills and expertise

How is my business going to benefit from an Apprentice?

Value for money: a cost effective way to attract new talent and fresh eyes into your organisation
Cost saving: we can advertise your vacancies and recruit the best candidates for your needs

Apprenticeships make good business sense: taking on an apprentice requires minimal financial investment but delivers a committed, highly motivated individual whose skills are advancing rapidly and who can make a positive impact on a business.

Apprenticeships make hiring simpler and cheaper: 59% of employers report that training apprentices is more cost-effective than hiring skilled staff, and that apprenticeships lead to lower overall training costs. More than half say that hiring apprentices reduces overall recruitment costs.

Apprenticeships can drive motivation and retention: providing an apprenticeship programme demonstrates commitment to long-term development that staff will recognise and value, leading to higher retention. 92% of employers who employ apprentices say that apprenticeships lead to a more motivated and satisfied workforce, with staff members contributing to their apprentices’ training and valuing the experience and opportunity to contribute.

Apprenticeships can develop existing staff: apprenticeships are not just for new hires – business can now use them to structure and accelerate the training and development of current staff. With ACCA’s pathways this can further enhance retention and drive the acquisition of advanced skills, right up to chartered certified status.

They can introduce fresh perspectives and new ideas: apprenticeships are a powerful way to attract new talent into an organisation – bringing millennials into the workplace who tend to be more digitally savvy, so supporting the existing workforce. By providing ACCA apprenticeships, businesses can engage diverse local and national talent, and offer a genuine alternative to university that allows people to launch and build their careers.

Apprenticeships build a talent pipeline they more than repay the investment. Through apprentices, employers will create long-term assets and advocates for their business – 57% of employers report a high proportion of their apprentices going onto management positions within their organisations.

What will this cost my business?

Since April 2017 the way that government funds apprenticeships in England has changed. All businesses operating within the UK with a wage bill of over £3 million are required to contribute to the apprenticeship levy monthly via HMRC.

  • If the levy applies to your business you will be required to pay 0.5% of your entire wage bill into the levy. This will be offset against a levy allowance worth £15,000 for each tax year
  • You will only be able to use your levy payment for government backed apprenticeships through providers who are registered on the Register of Apprenticeship Training Providers
  • Levy payments will expire after 18 months.

From April 2017 all existing apprenticeship frameworks and new apprenticeship standards (often referred to as trailblazer standards) will be allocated to Government funding bands.

Funding bands determine the maximum amount of money that Government will contribute for the training delivery and end-point assessment of each apprenticeship. All approved apprenticeship standards have already been allocated to funding bandings with maximum funding caps.

If you take on an apprentice who is between 16 and 18 years old at the start of their apprenticeship, you will receive a payment to help meet the extra costs of employing them. This will be paid to you through the training provider in two £500 instalments at 3 months and 12 months  if the apprentice continues in learning beyond this point.

Non-levy paying employers will need to contribute 10% of the maximum funding band as published by the Skills Funding Agency for the delivery of training and assessment for their apprenticeship. Levy paying employers will pay the full cost of the agreed funding band using their Digital Apprenticeship account. Where there are no longer funds in this digital account the Government will co-invest 90% of the funding with the levy paying employer being the asked to contribute the remaining 10% on a monthly basis.

Levy paying employers can estimate their funding contributions through the use of the free Funding Apprenticeship Systems calculating tool.

The agreed funds will be taken from the employer’s digital account to pay the training provider, up to a maximum amount of funding allocated by Government to that particular apprenticeship.

For non-levy paying employers the Digital Apprenticeship Service will not be available until at least 2018. They will need to discuss and agree a price with their training provider.

Does the apprentice have to attend college?

College attendance of 6 hours weekly for a teaching session will be required over the 18 months of the course.

How is the apprentice assessed?

Regular progress reviews throughout the programme which will also include you as the employer

The end point assessment will consist of two parts.

Part 1: an online assessment, giving the opportunity to tackle a series of business-related tasks through simulation in line with typical role activities.

Part 2: a review of the portfolio of evidence. This will be used to demonstrate competence in the knowledge, skills and behaviors defined within the standard. Evidence for this element will be gathered from the workplace during the on programme learning.  As an apprentice they will be required to reflect on their portfolio of evidence through a professional discussion.

What about support in the workplace?

Skilled and knowledgeable staff must be available to support the apprentice as they complete work-based tasks and build a portfolio.

Why should I choose Colchester Institute to support my recruitment and retention?

Apprenticeships – What we can offer

Colchester Institute is the largest college provider of apprenticeships in Greater Essex. We are expert at connecting the right people, to the right training, to the right business and when it comes to Apprenticeships, our Apprenticeship Advisors can support your business every step of the way.

As part of our service we can support your business with:

  • Advertising the Apprenticeship vacancy
  • Manage the applications received in line with your individual requirements
  • Match prospective candidates already known to us
  • Conduct initial pre-screening for candidates
  • Carry out visits to your premises alongside regular reviews to support you, your staff and your apprentice
  • Advice on any grants or funding where available

Our team will provide:

  • A fee free recruitment service.
  • Personal 1:1 Apprenticeship Levy advice and guidance.
  • A dedicated Account Manager.
  • Industry experienced, professional, technical tutors.
  • Bespoke programmes available upon request.
  • An Essex priority skills focus.
  • Free employer events.

Apprenticeship Reform Events

Professional Accounting / Tax Technician Higher Apprenticeship Level 4
Outline: Responsible for creating, and / or verifying and reviewing, accurate and timely financial information
LevelLevel 4
LocationColchester
Duration15 - 18 Months
Start DateEmployment as an apprentice can occur throughout the year however the start-date for attending college for training, where required, will be communicated post-employment and sign-up
Apprenticeship Funding Band (Levy paying employers)£9,000
Employer Contribution Fee (Non-levy paying employers)£900
What will this cost my Business?

Non-levy paying employers will need to contribute 10% of the maximum funding band as published by the Skills Funding Agency for the delivery of training and assessment for their apprenticeship. Levy paying employers will pay the full cost of the agreed funding band using their Digital Apprenticeship account.

Apprenticeship Funding Bands

Apprenticeship Funding Bands
Employers with less than 50 employees who are recruiting an apprentice aged 16-18 years old will not be required to pay the contribution fee.
Any associated cost to the individual will be made clear at the interview.

Employers with less than 50 employees who are recruiting an apprentice aged 16-18 years old will not be required to pay the contribution fee.

AAT membership and books will be discussed at interview. Membership of the AAT is compulsory and an additional fee applies.

Disclaimer

All Fees and prices shown on the website are for courses starting in the 2018-19 academic year unless stated otherwise, and are correct at the time of entering/printing information, however these may be subject to change. The College cannot accept legal or financial liability as a result of any such changes.

The course information describes programmes offered by Colchester Institute. The College takes all reasonable steps to provide courses as described, but cannot guarantee provision. The information is for guidance and does not form any part of a contract.

The College reserves the right to update and amend information as and when necessary. Colchester Institute will do its best to provide the courses shown, but may have to modify or withdraw a course depending on customer demand and other factors.