Latest issue of SARs In Action magazine Posted 01/27/2026 by AAT Comment & filed under Anti-money laundering, Anti-money laundering, Members. The UK intelligence Financial Unit (UKFIU) has published issue 34 of the SARs In Action magazine. Issue 34 of the SARs In Action magazine covers: New UKFIU guidance Tackling bribery and corruption in the UK Fraud by OCGs against the Student Finance System SAR case studies. We strongly encourage you to review the magazine as its content can be used as part of your internal AML training. Ensure that you and your relevant employees keep your AML knowledge current and aligned with the sector-relevant knowledge. Do not forget to keep a written record of ongoing CPD in AML. Read the magazine here. Further guidance Further guidance and support on risk management and other components of Money Laundering Regulations compliance is available on AAT’s AML webpage. You can also contact us on +44 (0)20 7367 1347 or via email at [email protected]. Future of supervision On 21 October 2025, the Government confirmed that the AML supervision for accountancy, legal and Trust and Company Service Provider sectors will move to a single professional services supervisor (SPSS), specifically the Financial Conduct Authority. While this is a big shift, implementation is likely to take years. In the meantime, AAT will continue as the AML supervisor for our licensed members and carry out our normal responsibilities, including Practice Assurance Reviews and risk assessment activities. Therefore, our members must ensure full compliance with the MLR 2017. You can find more on the consultation response here.
From AAT apprentice to CEO of RSM Posted 01/27/2026 by Christian Koch & filed under Apprentices, Career profiles, Career-boost. Rob Donaldson tells us about the importance of staying curious, challenging yourself every day and presenting your work well. Rob Donaldson is CEO of RSM UK, but he began his career as an AAT apprentice at a small company which was later acquired by RSM. He tells us how he progressed from an apprentice to a CEO, and gives us tips on how you could do it too. My apprenticeship-to-CEO journey I started at a small firm in 1990, which was later bought by RSM. In 1996 I moved to a Big Four firm to learn a new discipline, Mergers & Acquisitions (M&A). But when I got the chance to return to RSM and build something from scratch I took a risk and jumped at that opportunity. That was in 2000. I was made an M&A partner in 2001, was asked to lead the London corporate finance business in 2008, the national team in 2013 and then adding on the restructuring team in 2018. I became CEO two years later in 2020, a few weeks into Covid. If you could go back and give your apprentice-self one piece of advice, what would it be? Some careers follow a straight path, some zigzag. I started mine more by accident than design, but none of that mattered in the end. What mattered was showing up, doing my best, being curious and taking opportunities when they came. Many unexpected opportunities turned out to be the most rewarding as they taught me the most – my current job included! So, I’d tell my younger self: you don’t need to have it all figured out. The path will become clear as you go. Do your best every day What’s the best way for an AAT apprentice to follow in your footsteps? My first suggestion is not to try and ‘plan to become a CEO’. My own career wasn’t planned. I failed my A levels and fell into this profession through a job advert. Nothing about my early journey was deliberate. I’d say it’s about always learning, trying to improve what you do and trying to make a positive impact. Do your best for your clients, every day, take the opportunities that come your way and create opportunities by putting yourself forward to do more. In the end, you progress if people see that you can add value. Don’t expect that to just happen, it’s your job to help people see [your value]. It’s your job to make it happen. The other key bit of advice is to always be curious about the businesses you’re working with. Don’t just turn up, do your job and move on. Try to understand what’s going on in those businesses, what challenges they’re facing and how you might be able to help them, either through what you do, or by bringing in others with the right expertise or experience. Find out “why” What did you learn as an AAT apprentice that you still use today as a CEO? Understand why you’re doing what you’re doing. When you’re starting out, it’s hard. You’re given tasks and you might not quite understand how they fit into the whole picture. But the more you understand the context – the client’s business, the wider purpose of your work – the better you’ll do. That curiosity about the ‘why’ has stayed with me. Whether doing M&A deals or running the firm, I have to understand the business, what we’re trying to achieve and how I can make a difference. I ask “why” a lot… Why do we do it like that? It is often a catalyst for change. What role did continuous professional development and learning play in your journey? Continuous learning is important. I did my AAT, then ACA, then moved from audit into corporate finance. That meant learning new skills, understanding different parts of the business and being willing to step outside my comfort zone. These principles have been relevant for my entire career, including my role today. Presentation matters What’s the best way to raise your profile as a young apprentice? Do great work and present it properly. Your work must be technically accurate, but packaging and the presentation of what you do is just as important. Don’t let yourself down at the last hurdle with sloppy formatting, errors or poor presentation. Learning how to communicate and present what you do in an easily digestible form is a key skill that can take you a long way. I don’t have many superpowers but one of them is an ability to think carefully about what I am trying to communicate and present that in an interesting way that leaves people with a clear understanding of what I want them to do. If you do great work for clients, people notice. It gives colleagues confidence in you; it gives clients confidence in your business. Work well with other people Beyond that, be someone who shares ideas. If at some point you think “Why are we doing it like this? Could we do it differently?” then share those ideas. If they don’t get taken up, don’t be discouraged. Keep thinking about how things could be done better. And don’t be a lone wolf. Succeed together. Play as a team. In my experience, the people who progress fastest are the ones who help others, who think about the whole, not just their own patch. What’s the best way to acquire leadership skills early in your career? Take responsibility for helping others learn. That sounds simple, but it’s powerful. When you’ve been in the business a year and new people come in underneath you, you have a responsibility to help them learn, to pass on what you’ve been given. That’s the beginning of a leadership journey. Lessons for apprentices The lesson for apprentices today? Three things. Don’t think you need to have it all mapped out and don’t expect it to all just happen overnight. Focus on doing excellent work, spotting opportunities to help clients and being someone who makes things happen. If you can demonstrate you’re not stuck in a narrow box – that you understand the wider business – you’ll progress faster. To be great at what you do takes time, persistence, self-reflection and honesty. You have to take what you did yesterday and do it a bit better. And then do it better again the next day. That’s how over time you become excellent. Challenge yourself, every day.
From study to strategy: how to think like an accountant before you qualify Posted 01/22/2026 by Harry Rogers & filed under Students. Thinking like an accountant isn’t about memorising standards or formulas. It’s about developing judgment, confidence and the ability to apply what you’ve learned to real-life decisions. All successful AAT students will pass the exam, move on to the next unit and repeat until they qualify as an accountant. What sets you apart is how you switch your mindset from study to strategy. Employers don’t just ask what you know. They want to understand how you think. This is where the shift from study to strategy begins. Even before you qualify, you can start building this mindset at any level of your studies. What does it mean to “think like an accountant”? Thinking like an accountant is less about titles and more about approach. At every level, accountants are problem-solvers and advisors, not just processors. To be strategic in your thinking means that you can look beyond the numbers, ask thoughtful questions and consider the impact of decisions, not just compliance. Here are six things you can do to begin shifting your perspective and build your confidence for the future. 1. See the bigger picture, not just the calculation When studying, it’s tempting to focus on how to do something by following the rules and the formulas. To think strategically, you may also ask: Why does this matter? Who uses this information? What decision might this support? For example, you could say: ‘financial statements aren’t just reports, they communicate confidence and credibility.’ By linking technical tasks to real-world outcomes, you start thinking beyond exam success. 2. Develop a questioning mindset Accountants add value by being curious, so it’s important when reviewing information to be asking yourself plenty of questions. This approach applies whether you’re reconciling accounts, processing invoices or analysing performance. Asking good questions shows engagement and helps prevent errors before they become problems. You don’t need all the answers but showing that you ask the right questions builds trust. 3. Turn theory into practical judgment Your AAT studies give you rules and frameworks to follow so that you can apply this into real-world accounting where judgement is needed. That means learning to prioritise what matters most and balancing accuracy with deadlines Good accountants will also recognise materiality, not just perfection and adapt when information is incomplete. They also know when to escalate, when to investigate further, and when information is “good enough” to support a decision. In exams the numbers are clean and complete. In practice, they rarely are. Learning how to work with uncertainty is part of becoming a confident professional. 4. Think like a problem-solver, not just a task-doer It’s easy to fall into the mindset of just doing what’s asked. Strategic thinkers look one step ahead. Instead of: “This is the report I was told to prepare.” Try thinking: “What problem is this report trying to solve?” This shift helps you to anticipate follow-up questions, present information more clearly and add insight, not just output. Employers value people who reduce problems, not pass them on. 5. Build commercial awareness alongside technical skill Accounting doesn’t exist in isolation. Every number is connected to a wider organisation, industry or economy. You can build commercial awareness by: Reading financial news and business updates. Noticing how organisations make and spend money. Thinking about risk, sustainability and growth. Asking how financial decisions affect people, not just profit. This awareness helps you communicate more effectively with non-financial colleagues and prepares you for advisory-style roles later in your career. 6. Confidence comes from application, not perfection Many students feel they need to be “fully qualified” before offering opinions or ideas, but confidence grows through practice. A way of growing in confidence might be to apply what you know, even if it feels strange at first, and positively reflecting on the feedback to learn from the experience so you can do better next time. Development is expected at every stage of your career so understanding this from early on can help you along the way. Thinking like an accountant is a journey and it starts long before you pass your exams. From student mindset to professional outlook Your AAT studies are more than exam preparation. They are training you to think responsibly, ethically and strategically. By practising the habits of professional thinking now – questioning, analysing, connecting theory to real life – you’re not just passing exams, but shaping your future career. Further reading How to build your personal brand while studying AAT The career pathways available to AAT students and the skills needed for your future 6 ways to improve your communication skills during phone calls
From apprentice to boss: Relationships and stakeholder management reign supreme Posted 01/22/2026 by Christian Koch & filed under Apprentices, Apprenticeships, Career-boost. Interpersonal skills are essential to develop if you’re ambitious. As seniority increases, roles become more focused on relationships and less on technical work, which can be passed to more junior colleagues. That means anyone who plans to climb the career ladder should learn interpersonal skills alongside technical ones. Become a buddy Karen Young, Director of accountancy & finance, Hays, the recruitment expert: “Many apprenticeships have a ‘buddy scheme’, which can be great for developing leadership skills. Even if your firm doesn’t have a formal scheme, suggest you’d be happy to act as a buddy to a new hire and steer them through their apprenticeship.” Gareth John, Policy Director, First Intuition, the training provider: “Sometimes I see 20- and 21-year-old school-leaver apprentices being buddies or even managing graduates who are older than them.” Find a mentor if you can The training provider: “A mentor can help turbo-charge your career. If your company doesn’t have a mentorship scheme, try approaching your CFO, FD or department manager to see if they’ll mentor you.” Chris Argent, Founder, Generation CFO, The CFO: “Some budding CFOs might think they don’t need mentors because they can just ask ChatGPT for professional advice. However, if you want to be exceptional and get to senior roles quicker, a mentor can help you stay motivated on your path towards these jobs.” Work the room: Network whenever possible The recruitment expert: “Networking early in your career can set you up for the future. Start building relationships with your immediate circle such as colleagues, managers or fellow apprentices. These connections can lead to opportunities now and in the future. Attending events and webinars hosted by the AAT or others can help you meet more experienced professionals. Try preparing a short elevator pitch to introduce yourself confidently – which you can draw on at any networking event.” Join a community of your peers The CFO: “Things are changing so quickly in the world of accountancy right now. One of the best ways to get a consensus on what’s happening is speaking with a peer group or community outside your organisation. Communities such as Generation CFO can also act as therapy: they’re a super-powerful ‘tribe’ who you can discuss things with that you wouldn’t be able to with your partner or colleagues/boss. Shout about your achievements The training provider: “With hybrid and remote working, it’s important to ensure your achievements are visible. At the end of the week, send an email to your boss updating them of work you’ve finished and are proud of.” The recruitment expert: “Create a strong LinkedIn profile. Join professional groups on the platform and engage with industry content to raise your visibility. If you’ve done a good job on a project, don’t be afraid to ask for a LinkedIn recommendation from colleagues.”
“Future leaders who understand our culture and values”: why apprentices are so valuable Posted 01/15/2026 by Georgia Lewis & filed under Apprenticeships, Employers, Members. Accountants tell us how apprentices are boosting businesses, and what businesses are doing to develop them in turn. Investing in new talent – be that career-changers or school-leavers – can bring fresh perspectives and energy to accountancy firms, and one way to do this is through apprenticeships. Hiring apprentices needs to be a well managed process so everyone benefits, which is where Training Providers and government funding can help. Four accountants share why they hire apprentices and share their advice on how to provide meaningful opportunities to up-and-coming professionals. Providing thorough, structured training is key to success Rowan Morrow-McDade, Tax Director, Alexander & Co Apprentices are absolutely worth investing in. They bring fresh perspectives and enthusiasm, but the key to success lies in providing thorough and structured training. This should include exposure to a broad range of work, opportunities for early client interaction, and strong mentoring so they develop technical skills and confidence. It is equally important to have robust procedures in place to ensure all stages of work are reviewed and signed off before anything is shared with clients or submitted to HMRC. We’re fortunate to have a well-established apprentice academy with consistently high exam pass rates and strong progression. Our apprentices gain valuable experience early in their careers and typically qualify more quickly, which benefits the firm and the individuals involved. Hiring an apprentice, especially ahead of the January rush, can be a great help in some circumstances, but it depends on the size and scope of your operations. There tends to be a lot of administrative work during January that can hold experienced accountants back from more complex tasks. In this situation, extra hands can be an invaluable benefit to the team. But it is important to provide an apprentice with real practical accounting experience, so exploring this avenue is only fair and worthwhile if your existing team is well-structured. If allocating regular time to shadowing and hands-on experience during the busy season is likely to add more stress to employees’ lives, the downsides may outweigh the benefits. In short, hiring an apprentice can be a big help during busy periods provided your permanent workforce has the resources and experience needed to make the relationship beneficial for all involved parties. We develop future leaders who understand our culture and values Vanessa Emens, Chief People and Operations Officer, Affinia As a people-centric business, where the expertise of our staff makes a real, lasting difference to our clients, we’re passionate about the value of apprenticeships. For many years, we have run a successful apprenticeship programme, achieving recognition as 13th in the Apprenticeships Top 50 SME Employers in 2023 and climbing to third place in 2024. We recruit apprentices through multiple channels, including our links with the ICAEW and ACCA, by recruiting within our communities, and through employee referrals, which we actively reward. The benefits are mutual. Our apprentices receive professional skills training, qualification support, client experience from day one, and clear progression pathways. We are focused on developing our own talent pipeline and future leaders who understand our culture and values. We provide comprehensive support including flexible working and wellbeing aid. For firms considering apprenticeships, our advice is to invest in structured training, create genuine progression opportunities, and foster a culture of knowledge-sharing and support. Our success comes from backing good people and helping them build long-term careers with us. Apprentices form a skilled, loyal team that grow with the business Alison Maguire, Practice Manager, Simpkins Edwards Apprenticeships have been part of our ethos for over 20 years. We currently have 23 apprentices, making up around 20% of our team. It’s a figure we’re incredibly proud of. We believe our people are our most important investment. For us, training and development aren’t just buzzwords, they’re at the heart of our culture. We work closely with Exeter College, a local further education provider, to find talented individuals who are genuinely eager to learn and grow. This partnership means we attract apprentices who share our values and are committed to building a career in accountancy. The benefits of our apprenticeship programme are significant for everyone involved. We find our apprentices offer fresh ideas and enthusiasm, which energises our business. In return, they gain hands-on experience, qualifications and the support of mentors who’ve walked the same path. Many of our former apprentices stay with the company. In fact, one progressed from apprentice to director. And many go on to be mentors themselves, illustrating the strength of our “pass it on” culture, where those who started as apprentices guide the next generation. We prioritise rounded growth by encouraging the development of technical, as well as soft skills, such as communication, teamwork and creativity. Understanding the wider business landscape and commercial awareness are essential as our apprentice roles evolve into active advisory positions. My advice for firms considering apprenticeships is simple. Invest properly. Taking on apprentices is not just about filling vacancies; it’s about shaping futures. The time and resources you put in will pay back year after year. Ultimately, you are creating a skilled, loyal team that will grow with your business. We give our apprentices a future-proof education, while they improve user experience Arjun Kumar, Founder, Taxd We have only been hiring apprentices in the last 12 months, with our first apprentice joining us in January 2025. But I joined PwC as a school-leaver/apprentice back in 2015, so I have a lot of experience with apprenticeship programmes and their benefits. BPP handle the advertising for us through Indeed and apprenticeship job boards. For us, this works really well as it takes a lot of time out of the hiring process. We review the CVs and handle it from the interview process onwards. For a digitally led company like us, apprentices are great. They’re typically digital natives and look at our user experience through fresh eyes. This provides a valuable feedback loop which keeps our online platform intuitive for our clients. For the apprentices, the benefit is a future-proof education. Instead of data entry and working in a traditional firm or large corporation, they are exposed to the intersection of tax legislation, customer success and product development. They skip student debt to gain experience solving real problems for real business owners and clients. My advice for anyone looking to hire apprentices is to get stuck in, but be patient. It takes time for apprentices to learn and adjust to the working world. I certainly did! Work on developing a culture where apprentices can ask questions, and make sure time is set aside for learning. It’s harder in smaller firms with smaller learning and development budgets, but making time for upskilling is extremely important and must not be overlooked.
Help your students accelerAATe their success in 2026 Posted 01/14/2026 by Harry Rogers & filed under Training providers. The new year is the perfect time for your students to boost their confidence, sharpen their skills and get inspired for what’s ahead. accelerAATe is a free online event designed to help them do just that. Running from 28 to 30 January, accelerAATe is a three-day virtual conference for AAT students to hear career advice from industry experts, gain study and revision tips, along with inspiring stories from AAT members who have used their qualification to succeed. Students can sign up here. Some of this year’s highlights: Networking 101: Unlocking opportunity through connection: this session explores the real power of networking, and why it matters now more than ever. Combining relatable examples with practical strategies, you’ll understand how everyday conversations can lead to opportunities in education, apprenticeships and future careers. Overcoming and managing personal challenges while studying: this session is dedicated to celebrating perseverance and sharing real-world strategies for success. Join us for an inspiring panel discussion with AAT students who are navigating their studies while managing other major life commitments. How to evidence your skills without formal experience: this session is designed to help you uncover the valuable skills you already possess. We’ll show you that experience comes from all parts of your life, not just the office. Plan your success: setting and achieving your short and long term goals: A goal without a plan is just a wish. Whether you’re planning the next few months of study or mapping out your first year in a new role, effective goal setting is the skill that turns ambition into reality. This interactive workshop will provide you with a clear framework for success. Student conference prize draw We’d love to see how our Training Providers are helping students accelerate their success. Share a post on social media promoting our Student Conference – tag us @AAT using #accelerAATe2026. Every Training Provider who posts will be entered into a prize draw to win AAT goodies for their students! Share this link below and encourage your students to register today: https://event.on24.com/wcc/r/5157796/669B2FD80338DD7BBDEE551B8E3AD2F9/6482843?partnerref=TP If you want to bring your social media posts to life, use the below artwork: Banner 1 Banner 2 Banner 3 Banner 4 Banner 5 Banner 6 Banner 7 Banner 8 For more information about accelrAATe and for students to sign up, click here
From apprentice to boss: Improve your career prospects by expanding your experience Posted 01/14/2026 by Christian Koch & filed under Apprentices, Apprenticeships, Career-boost. “Growth mindset is more important than technical skills” if you’re aiming for CFO or partner, so here’s what you can do to get there. These days, having a chartered qualification helps, but it’s no longer essential. There are other ways to build up the skills and experience to become CFO or partner. Gareth John, Policy Director, First Intuition, the training provider: “At senior leadership positions, you’ll still need to know accountancy basics such as bank recs or tax computation. I regularly ask CFOs and partners today whether accountants need to know double-entry. Their answer? ‘Absolutely!’.” Chris Argent, Founder, Generation CFO, The CFO: “It’s only the people digging their heels in and saying, ‘I don’t want to learn anything new’ who’ll be caught out by AI. As accountants, we’re analysts by heart and we’ve been training our entire careers – it’s natural for us to keep learning. I think most of us will be fine when it comes to embracing AI.” Karen Young, Director of accountancy & finance, Hays, the recruitment expert: “Employers value a willingness to learn and a growth mindset more than specific technical skills… Thanks to AI, entry-level roles are in a state of flux. But apprentices will still need to learn how to interpret AI’s output to see if there’s anything wrong with it.” Volunteer and put your hand up for everything The training provider: “I always advise trainees to volunteer to do things that aren’t part of their job description. Take on that extra bit of work. Help your manager who seems busier than normal. Organise the team social event every Friday. Don’t sit back and wait for people to come to you: if you finish a job at 4pm, find the manager and see if you can help. If you go above and beyond, giving that extra 5-10%, you’ll get noticed which leads to interesting opportunities. Every time you say ‘yes’, it opens new doors. Outside of work, if you volunteer to be treasurer of your local cricket club or help a charity’s finance team, you’ll find you’ll take on responsibilities at a quicker rate than other trainees.” The recruitment expert: “Offer to cover for senior colleagues during their time off. You might not be able to cover their entire job for a week, but you might be able to take on a couple of their tasks.” Try to understand how the entire business works The training provider: “CFOs/partners need to have a holistic view of how an organisation operates. Many apprenticeships offer a rotation programme, which gives you the chance to work in different departments such as sales ledger, treasury or management accounting.” The CFO: “Even as a trainee, you can ask a colleague for coffee to find out more about their department. If you’re working as an accounts payable clerk there’s no reason why you can’t find out what your credit control team is doing, or what operations are distributing.” Seek every opportunity to improve communication skills The training provider: “At CFO level, stakeholder management is more important than technical accounting: their FDs and finance managers can do that. Instead, CFOs need to develop relationships: with the CEO, the chief people officer, clients, investors and the bank. Many people enter accounting thinking it’s just about debits & credits or bookkeeping. But because of AI/automation, these broader communication (or ‘impact’) skills are becoming more important, especially if you want to progress towards senior leadership. How to develop these skills in your first job? Try to accompany your CFO to a meeting at a bank, or prepare some information for shareholders, perhaps even presenting it.” The CFO: “Don’t think you need to have a strong personality to be CFO. You can be an introverted, quiet person and still be a leader. True leadership is about being authentic and being true to yourself.” The recruitment expert: “Ask your boss whether it’d be okay to present a five-minute slot during the next team meeting. Pushing yourself out of your comfort zone is a great way to practice communication skills.” Ask for extra responsibilities in your development plan The CFO: “Try having conversations with your manager or learning & development team about your career goals. Tell them you want to understand more about the commercial side of the. business, or how to automate processes.” The recruitment expert: “There’s a growing need in many businesses for sustainability reporting – a great area to add value to your CV. Many young people have a passion for the planet and making the world a better place, so put yourself forward for any sustainability-led projects. For example, if your company is removing diesel vehicles from its fleet, see if you can help with the reporting for the impact statements.” Try to have a ‘zigzaggy’ career The recruitment expert: “If you only work in profit & loss or management accounting – and you’ve never had responsibility for the balance sheet or financial accounting – you probably won’t make CFO or financial director. The more opportunities you have to work in different areas of finance and accounting, the better…” The training provider: “I often see aspiring partners who’ll ‘zigzag’ departments every few years: working in areas such as audit, services or in corporate finance. Those working in industry might want to look at business partnering roles. This makes them more ‘pickable’ as a partner because they’ve got that variety of experience. If you work in the same department for 10-15 years, you might become an effective finance manager but struggle to step up to CFO because you haven’t got that holistic view.” The CFO: “Dare I say it, having a varied background could get you ahead of somebody who has stayed in a traditional pathway. If you’ve worked as an auditor or tax accountant, you would have gained some great experience but you’re not leading that strategic life as a finance business partner.”
January 2026 AAT Professional Standards and Regulation update Posted 01/12/2026 by AAT Comment & filed under Anti-money laundering, Anti-money laundering, Members. Minor amendments to AAT’s CPD Policy that members should be aware of. We have made a number of minor changes to our CPD Policy with the approval from the Professional Standards and Regulation Board (PRSC). The changes address areas where stakeholder feedback suggested clarity was required, and in some cases, the amendments reinforce positions which exist in other associated regulations. Changes include Clarity has been added around the purpose and objectives of the policy to help members understand the impact of their Continuing Professional Development (CPD) obligations on public trust, and a table of definitions included in the policy. The stages of the CPD cycle, as set out in the practical guidance on the AAT website (login required), have been included in the policy to help members understand the requirements of the output-based approach. The retention policy for CPD records of five years and the requirement for members to confirm their compliance with the CPD Policy when applying for or renewing their membership and/or licence, as already existed in our guidance, is now explicit in the policy. The implications of non-compliance for licensed members, as already set out in AAT’s Licensing Regulations, are included in the policy. This is an opportunity for all members, however new or longstanding, to read the CPD Policy in full and familiarise themselves with our compliance requirements. Useful links Please make use of the following resources to ensure you are up to date with the latest regulatory information.AAT Standards and Requirements AAT’s CPD guidance Support for licensed members AAT’s AML hub AAT’s ethics hub
From apprentice to boss: A natural pathway to partner Posted 01/08/2026 by Christian Koch & filed under Apprentices, Apprenticeships, Career-boost. An apprenticeship can act as the perfect springboard for becoming partner or even CFO. But how to get there? Our experts explain all. If you’re an apprentice starting your finance career, landing a chief financial officer (CFO) or partner’s position might seem like a distant dream. But the good news is you’re already on the right path. Accountancy apprenticeships equip you with a skills-suite essential for any CFO/partner: a solid foundation of technical skills, along with learning about business strategy, problem-solving and critical thinking. Armed with these skills, apprentices can achieve leadership positions much sooner than expected. In fact, because they’re embarking on finance careers at an earlier stage, apprentices often have a head start over university graduates. “It’s definitely achievable for school-leaver apprentices to become a partner or CFO in about a decade,” says Gareth John, policy director at First Intuition. “Being a finance lead at a smaller business is easier to get at a young age, even for people in their 20s.” AAT has spoken to three experts from different fields – a CFO, training provider and accounting recruitment expert – for their advice on landing these prize positions. Meet the experts The CFO: Chris Argent, Founder, Generation CFO, who has been CFO at multiple organisations. The training provider: Gareth John, Policy Director, First Intuition. The recruitment expert: Karen Young, Director of accountancy & finance, Hays (global recruitment company). What is a chief financial officer? A CFO is charged with overseeing an organisation’s financial operations and is heavily involved with the overall business strategy, as well as developing revenue streams and funding. Their pay-packet usually matches these responsibilities: the average range of a CFO’s salary in the UK is £80,000-£364,000, according to Robert Walters Salary Survey 2025 (CFO salaries of £1 million aren’t unheard of). What is a partner? A partner, on the other hand, is a co-owner of a firm, responsible for making strategic decisions about the company, business development (bringing in new business by identifying new opportunities), overseeing the team, plus developing client relationships. Having a chartered qualification helps… but it’s not essential The CFO: “Being chartered used to be THE route to becoming a CFO. But it’s no longer the only pathway. Because today’s CFOs need to be more strategic and commercial [many employers] are looking at people with a core qualification such as Level 4 AAT who also have a trilogy of skill sets (accounting/digital and data analytics skills/ leadership).” The recruitment expert: “Many CFOs at FTSE100 businesses are chartered through ACA (the ICEAW qualification), while others at start-ups or mid-tier firms tend to have an ACCA or CIMA qualification.” The training provider: “AAT’s ‘chimney-like’ progression allows school-leavers to start at Level 2/3 before becoming chartered by 21-years-old. Becoming chartered isn’t essential though. Because an AAT apprenticeship teaches you many strategic skills that help you progress towards senior leadership, I think the combination of AAT and a Level 7 qualification could be enough. Sometimes, people do MBAs. I’d argue MBAs are a bit redundant – you can pick up many skills taught on an MBA through an ICEAW qualification. Beyond that, you don’t need any additional qualifications. But continuing professional development (CPD) is critical.”
HMRC tax advisor registration standards Posted 01/05/2026 by AAT Comment & filed under Anti-money laundering, HMRC updates, Members. Tax advisor registration rules are changing. We explain what they are and who they apply to. Tax advisors who interact with HMRC on behalf of clients will be legally required to register with the authority and meet new minimum standards, starting from May 2026. There will be a transitional period of at least three months for all tax advisor groups. The registration process will be digital, with a non-digital alternative available for those who are digitally excluded. This is according to HMRC’s policy paper published on November 26 after Chancellor Rachel Reeves presented the 2025 Budget. The move follows HMRC’s October 2024 consultation raising standards in the tax advice market: strengthening the regulatory framework and improving registration. The consultation found that stakeholders strongly supported mandatory registration as it could enhance the security of tax advisor services and deter unscrupulous actors. HMRC said that registration requirements for tax advisors currently vary by service and this is creating administrative burdens and gaps in HMRC’s ability to check whether tax advisors meet minimum standards. According to HMRC, the policy will improve its ability to monitor and exclude tax advisors who are “objectively unable” to meet HMRC’s Standards for Agents or cannot lawfully act as a tax advisor. In an email to practitioners, HMRC said it will publish guidance on who needs to register and what they need to do in January 2026, with further details expected on registration timelines and transition arrangements for specific tax advisor groups. The new requirement for tax advisors to register with HMRC will be legislated for in Finance Bill 2025-26 via primary legislation. Draft legislation for the measure was published in 2025. Who will be required to register? According to the draft legislation, the rules will apply to all tax advisors, along with their senior managers, who, in the course of business, assist others with their tax affairs. This includes giving advice, acting as an agent or providing assistance with any document that is likely to be relied on by HMRC. The provision will apply irrespective of whether the advisor works for an organisation, is appointed indirectly at the request of someone other than the client and carries out activities other than assisting clients with their tax affairs. Unless the tax advisor is registered, they may not interact with HMRC in relation to the tax affairs of a client. This includes: contacting HMRC by telephone, post or email; sending a message to HMRC through a website or internet portal; filing a return, claim, notice or other document with HMRC (whether electronically or otherwise); communicating with HMRC in any other way. How to apply for registration? An application to register as a tax advisor with HMRC must contain the name and address of the advisor, the name of each senior manager of the advisor and include a statement as to whether the eligibility conditions have been met. It must also include any other information or evidence that may be specified in a notice published by HMRC. Applicants who are based in or have ties to countries outside the United Kingdom may be asked to provide different types of information or evidence, as specified in the notice. What are the eligibility requirements? To be eligible to register with HMRC and meet the minimum standards, every tax advisor and each senior manager of the advisor must not: have any outstanding tax returns or amounts of tax due if a time to pay arrangement is being followed, it does not count as an outstanding tax payment be subject to a decision by HMRC to refuse to deal with them be subject to a sanction or other measure imposed on them by HMRC in relation to tax anti-avoidance activities be subject to a suspension or suspension order, or be subject to a prohibition or permanent prohibition order be disqualified under Directors Disqualification legislation, or be subject to a similar disqualification in a territory outside the United Kingdom be insolvent. They must also not have any unspent conviction for various criminal offences including: an offence under section 20BB of the Taxes Management Act 1970 (falsification of documents) an offence under the Customs and Excise Management Act 1979 an offence under section 112 (false representations or obtaining benefit) or 114 (offences relating to contributions) of the Social Security Administration Act 1992 an offence under the Value Added Tax Act 1994 an offence under section 35 of the Tax Credits Act 2002 (offence of fraud) an offence under the Commissioners for Revenue and Customs Act 2005 an offence under section 45 or 46 of the Criminal Finances Act 2017 (failure to prevent facilitation of tax evasion offences) an offence at common law of cheating the public revenue an offence under the law of any part of the United Kingdom consisting of being knowingly concerned in, or in taking steps with a view to, the fraudulent evasion of tax aiding and abetting any of the above. A further condition is that the tax advisor and each senior manager of the advisor meets any standards expected of tax advisors in their dealings with HMRC that are specified in a notice or other document published by HMRC. The advisor must be registered with an anti-money laundering supervisory authority or satisfy any alternative requirements HMRC may publish. Are there any exceptions to the requirement to register? However, there are several exceptions from the requirement to register. A tax advisor is not required to register with HMRC in any of the following circumstances: working for an organisation and interacts with HMRC solely in the course of that organisation’s business providing payroll, or other tax or accounting, software to a client for use in relation to their tax affairs handling matters relating to a duty of customs or a duty of excise or import VAT acting as a VAT representative handling the tax affairs of a group undertaking appealing HMRC decisions to a court or tribunal. What are the penalties for non-compliance? Tax advisors who do not meet the minimum standards or registration conditions will be suspended from interacting with HMRC on behalf of clients until they do meet standards. Sanctions may also apply where tax advisors attempt to circumvent the registration requirements or fail to meet HMRC’s minimum registration standards. If a tax advisor fails to register, HMRC will issue a Compliance Notice. If the advisor does not register after receiving this notice, they may face a £5,000 penalty, which could increase to £10,000 for repeated violations. A £10,000 penalty will be imposed if tax advisors work while they are suspended or banned from being registered. In situations where the breach results from the actions or omissions of a senior manager of the tax advisor, penalties will be imposed on those individuals, who will bear personal liability. Where a tax advisor’s registration has been suspended for more than 30 days, the advisor must take reasonable steps to notify each of their clients about the suspension within 30 days from the 31st day of the suspension. Failure to notify clients will result in liability for a penalty of £5,000. What are the costs of the scheme? Continuing costs for tax advisor firms will include the requirement to provide annual assurances of HMRC’s minimum registration conditions, including anti-money laundering (AML) supervision status and the certification and translation of documents for overseas tax advisor. However, HMRC said as the “vast majority” of tax advisors, both UK based and overseas, are already required to hold AML supervision to operate legally, this will not introduce a new burden.