The finance world is everchanging with new regulations and the growth of businesses demands. This means those who work in the accounting or finance sector must remain fully qualified and up to date with recent changes. Gaining practical experience alongside new theoretical knowledge is vital for finance departments and staff to remain relevant and current.

Finance apprenticeships offer a unique opportunity to achieve this balance allowing new fresh talent to enter the finance field with ease, and for businesses to ensure their teams are fully qualified.

Understanding Finance Apprenticeships

Apprenticeships are funded training programmes that combine on-the-job training with classroom learning. They provide aspiring finance professionals with the chance to learn directly from experienced mentors while earning a salary.

The Benefits of Finance Apprenticeships

One of the primary benefits of apprenticeship programmes is the ability to learn as you earn by working in the field while getting formal qualifications. The hands-on experience gained through an apprenticeship programme is often more impactful than classroom learning alone, as it allows apprentices to apply theoretical knowledge to real-world scenarios.

Additionally, apprenticeships in finance lead to recognised qualifications, such as the Association of Accounting Technicians (AAT) certification, making candidates more attractive to potential employers.

How Apprenticeships Compare to Traditional Education

Unlike traditional education paths, finance apprenticeships offer a more practical approach to learning. While university courses focus heavily on theory, apprenticeships emphasise skill development through hands-on experience. This practical focus can be particularly beneficial for individuals who thrive in learning-by-doing environments.

Upskill Current Employees

Apprenticeships are not only a great way for new talent to enter the finance field but can also be utilised by employers to upskill existing members of their team.

An employer can choose to place a current worker on an apprenticeship programme, allowing them to earn a qualification alongside their day-to-day job. Other than the benefits of gaining the proper training and qualifications, this arrangement has other benefits for employers:

The Apprenticeship Levy

Apprenticeships are funded by the Apprenticeship Levy. This is a UK tax on large employers which is used to fund apprenticeship training. It is payable by all employers with an annual pay bill of more than £3 million, at a rate of 0.5% of their total. The levy is paid into a central digital apprenticeship service (DAS) that employers can access. Funding is available for both new and existing employees and the training must be delivered by an approved training provider.

By making use of the apprenticeship levy allowance, employers can get their team fully trained up at no cost to their business.

National Insurance Savings

In the 2024 Autumn Budget the UK government has announced changes to a range of taxes and costs to employers. A factor that remained unchanged however is the employer contribution to National Insurance for apprentices. In the Autumn Budget the government has clarified that employers will not have to pay National Insurance for apprentices below the age of 25.

This applies to all apprentices whether they have been previously employed by the business or not. And so, by placing a current employee on an apprenticeship programme will not only help to further their training but could provide savings for businesses on their National Insurance contributions.


Join our LIVE Finance AAT Apprenticeships Webinar

For National Apprenticeship Week 2025 LMP Education is hosting a webinar all about finance apprenticeship and how they can be used to drive careers. See info below:

Zoom Registration Link:

https://us06web.zoom.us/webinar/register/8817362835584/WN_jvjQolzWSpa6mtJhbHxeeQ

Date and time:

Thursday 13 February at 11am 

This event is for employers, finance managers, finance directors, HR managers and those interested in starting a finance apprenticeship. 

Finance apprenticeships offer a valuable pathway to a successful career in the finance sector. Whether you’re an individual looking to start a career in finance, a current employee looking to skill up, or an employer looking to upskill your team, LMP Education has something for everyone.

LMP Education’s Finance Apprenticeships

LMP Education offers a range of AAT accredited apprenticeship programmes.

Level 2 Accounts or Finance Assistant programme

Level 3 Assistant Accountant programme

Level 4 Professional Accounting Technician programme

If you’d like to learn about upskilling your team book a discovery call with LMP Education.

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