An apprenticeship in tax provides employees with technical knowledge, business skills and the wider professional competencies that employers say they are looking for to enhance their workforce.
- Over 90% of employers who employ apprentices believe that apprenticeships lead to a more motivated workforce.
- Over 80% of consumers prefer using a company which takes on apprentices.
- 80% of companies who hire apprentices report a significant increase in employee retention.
- 77% of employers believe apprenticeships make them more competitive
How it works in practice and who benefits
According to Andy Butterworth, the Chief Operating Officer at BDO, tax apprenticeships come with numerous benefits. Namely, attracting and retaining young talent to the firm.
“Attracting young talent to BDO is crucial to future-proofing our business. We have recruited more than 300 apprentices during the last three years, with tax apprenticeships making up half of these roles. Feedback from the business, as well as our clients, is that school leavers are highly valued and a welcome addition to the team. They are hungry to learn, keen to impress and their enthusiasm has a ripple effect across the whole team.”
Apprentices join BDO directly after their A-Levels and work towards their accountancy qualifications. One of the biggest benefits to students, according to Butterworth, is that they can earn as they learn. They also qualify as an accountant a year before their university-route counterparts.
“We are keen to encourage more school leavers to join BDO and the accountancy profession generally. We have recently reviewed our entrance criteria for this year to make sure we are opening doors for more young people to join the business”
What to do next?
The National Apprenticeship Service business support team offers free, impartial advice to employers of all sizes looking to recruit or upskill existing staff through an apprenticeship.
Support includes working with employers looking to recruit an apprentice for the first time or those expanding their apprenticeship and traineeship workforce and helping employers to find the right training providers to deliver the training.
The Association of Taxation Technicians (ATT) offers a Professional Taxation Technician Apprenticeship. This allows apprentices the opportunity to become Taxation Technicians on successful completion.
For more information about the ATT and tax apprenticeships, please visit www.att.org.uk.
About Accounting WEB
Contributions from the AccountingWEB.co.uk editorial team.