ACCA and Big Four to launch apprenticeship tax scheme

The Association of Chartered Certified Accountants (ACCA) has teamed up with the Big Four to launch a new apprenticeship tax scheme.

The accountancy body will be working with KPMG, PwC, EY and Deloitte to develop a scheme for the audit, accountancy and tax professions. The scheme, known as Accountancy/Tax Technician Standard, will enable school leavers to qualify with a higher apprenticeship and is linked to the Government’s Trailblazer scheme.

Great opportunities

The four companies already provide apprenticeship opportunities for young people, but hope that this new scheme will attract more young people into professional services.

The companies are also hoping that the scheme will help to provide greater opportunities for companies to enable them to tailor their apprenticeships to meet the needs of young people.

Nadhim Zahawi MP, the Prime Minister's Adviser on Apprenticeships, commented on the scheme, stating: “It is really welcome news that the new standard is being bought forward – as it will not only mean great opportunities for young people to develop a career in this sector, but that the training and skills they will receive has been designed by employers who know exactly what the next generation needs to thrive and go far.”

Vitally important

The new standard has also been welcomed by ACCA Head of Education Dorothy Wood, following research from the accounting body that showed that over 70 per cent of young people believe that apprenticeships provide a route to a successful career.

According to Wood, it is “vitally important for the future of UK plc that the next generation of finance professionals enjoy unfettered access to the profession irrespective of their background.”

“The new professional accountancy standard will help them do exactly that,” she said.