Accountancy & Taxation Level 7 Apprenticeship

The Accounting/Taxation Professional Level 7 Apprenticeship standard, available since 1 November 2017, is equivalent to a Master’s degree and includes a full Professional qualification such as ACA (ICAEW), ACCA, CTA and CIMA.

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Who is eligible?

The Accounting/Taxation Professional Level 7 Apprenticeship could be undertaken by both your new hires or your existing talent.

Anybody can complete a Level 7 Apprenticeship but in order to be eligible for either levy funding or government funding (if you are a non or marginal levy payer), the student cannot have an equivalent Level 7 (Masters) qualification. This means that anybody, including accounting graduates, can complete this Apprenticeship – apart from those who already have a Masters degree in accounting and finance.

What is the difference between Level 7 and the Professional Qualification?

The table below shows the main similarities and differences between the two different options:
Apprenticeships Level 7 comparison table

Main similarities:

Both contain professional exams.
Both require a focus on practical work experience as a pre-requisite for membership.
Both require a case study test of knowledge and competence as the final exam.
Both take around 3 years to complete.

Main differences:

20% of time on an Apprenticeship programme needs to be dedicated to training and development (off-the-job rule).
Skills and behavioural training must be completed and formally documented.
As two forms of end point assessment are mandated by completing an Apprenticeship, a project report of circa 4,000 words focusing on recent and relevant work experience must be completed.
All new Apprenticeships have to be graded.

Apprenticeships Level 7 fact sheet

Download our Level 7 Apprenticeships guide for more information.

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What if your trainee has already started?

It would be possible to convert your trainees onto the Level 7 if you feel an Apprenticeship would benefit them. We would look at the amount of the qualification your trainees have already achieved and work out a proportion of learning that would then be applied to the amount of funding that could be claimed. Kaplan will always recommend the right route for you, your business and your trainees.

Please note to be eligible to move onto an Apprenticeship, your trainee must have at least 12 months of study left to complete. Practically speaking, this means anybody who has started the final level of their qualification will not be able to transfer.

What funding is available?

The cap for this Apprenticeship has been fixed at £21,000.

If you are an employer with an annual pay bill of less than £3 million, and therefore not a levy-paying employer, you can co-invest with the Government in the cost of training and assessing your apprentices: you will pay 10% of the cost; the Government will pay the remaining 90%.

If you are a levy-payer, you will be able to use your levy fund towards the Accounting/Taxation Professional Level 7 Apprenticeship. Find out more about how Kaplan can help you manage your levy.

Do you have any specific questions about the Level 7 Apprenticeship Standard?

How could you integrate it to your current training plans? Find the answer to your most common questions with our FAQs.

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To discuss your Apprenticeship needs…

Request a callback below or call:

0161 259 7400

* If one of the professional qualifications does not currently include a case study, then they will either have to develop one or apprentices will complete a case study from an alternative professional body.

† Most professional bodies require students to complete a training log as a prerequisite of membership. For the Level 7 Apprenticeship it is mandatory that apprentices demonstrate they have achieved the skills and behaviours detailed in the standard.