Hiring and Sponsoring Chartered and certified accountants (SOC Code 2421)

Chartered and Certified Accountants, classified under SOC Code 2421, are essential financial professionals who play a crucial role in the management and oversight of financial operations across various sectors. Their responsibilities include:

• Planning and overseeing the implementation of accounting systems and policies.
• Preparing financial documents and reports for management, shareholders, and statutory or other bodies.
• Auditing accounts and bookkeeping records to ensure accuracy and compliance.
• Preparing tax returns and providing advice on tax-related problems, including contesting disputed claims before tax officials.
• Conducting financial investigations concerning insolvency, fraud, mergers, and other significant transactions.
• Evaluating financial information to support management decisions.
• Liaising with management and other professionals to compile budgets and cost assessments.
• Preparing periodic accounts, budgetary reviews, and financial forecasts.
• Conducting investigations and advising management on financial aspects related to productivity, stockholding, sales, and new products.

With the increasing complexity of financial regulations and the necessity for precise financial management, the demand for qualified chartered and certified accountants remains strong. Many organizations are looking to attract skilled professionals from both domestic and international markets. This guide aims to assist HR professionals in navigating the hiring process and sponsorship of accountants under the UK’s immigration system.

What is SOC Code 3411 for Chartered and certified accountants?

SOC Code 2421 refers to chartered and certified accountants who play a vital role in the financial health of an organization. Their responsibilities can include:

• Planning and implementing accountancy systems: Developing and overseeing policies that govern financial reporting and accounting practices.
• Preparing financial documents: Compiling reports for management, shareholders, and statutory bodies to reflect the financial position of the organization.
• Auditing accounts: Reviewing and verifying the accuracy of accounts and book-keeping records to ensure compliance with regulations.
• Preparing tax returns: Completing individual and corporate tax filings, advising on tax-related issues, and contesting disputed claims before tax authorities.
• Conducting financial investigations: Analyzing cases of insolvency, fraud, or potential mergers to provide insights and recommendations.
• Evaluating financial information: Assessing financial data to support management decisions and strategic planning.
• Liaising with management and professionals: Collaborating with other stakeholders to compile budgets, evaluate costs, and project future financial performance.
• Preparing periodic accounts and forecasts: Developing regular financial statements and budgetary reviews to track financial progress and inform future strategies.
• Advising on productivity and financial aspects: Conducting investigations into factors such as stock holding, sales, and new product introduction to enhance financial effectiveness.

Chartered and certified accountants are essential in ensuring accuracy in financial management, guiding organizations in strategic decision-making, and maintaining compliance with legal standards.

Eligibility to Hire Chartered and certified accountants (SOC Code 3411)

1. Job Requirements

Chartered and certified accountants must possess a strong foundation in accounting principles and demonstrate relevant qualifications or experience. These may include:

• Professional Certification: Certification from recognized bodies such as ACCA, CPA, or equivalent credentials is required.
• Educational Background: A degree in accounting, finance, or a related field is typically necessary to ensure a solid understanding of accounting practices.
• Experience: Proven experience in preparing financial documents, auditing accounts, and conducting financial investigations, particularly in areas such as insolvency and fraud.
• Technical Skills: Proficiency in accounting software and tools, as well as strong analytical and numerical skills.
• Communication Skills: Excellent ability to communicate complex financial information clearly to management and non-financial stakeholders.
• Regulatory Knowledge: Understanding of relevant tax legislation and experience in preparing tax returns and contesting disputed claims before tax authorities.
• Interpersonal Skills: Ability to liaise effectively with management and other professionals to compile budgets, conduct financial forecasts, and provide expert financial advice.

Ensure that the job description aligns with SOC Code 2421 and that the accountant’s qualifications and experience fulfill the expectations for the role.

1. Salary Thresholds
2. Use the Minimum Salary Calculator to ensure your salary offer meets immigration requirements.

Sponsoring Chartered and certified accountants: A Step-by-Step Guide for HR Professionals

Once you’ve confirmed that the role and candidate meet the eligibility requirements, follow this step-by-step guide to sponsoring Chartered and certified accountants under SOC Code 2421.

Step 1: Obtain a Sponsor Licence

Before hiring non-UK Chartered and certified accountants, your company or institution must obtain a sponsor licence. This licence enables you to legally sponsor overseas Chartered and certified accountants under the Skilled Worker Visa program.

• Sponsor Licence Application: Submit documentation proving that your business is legitimate and has a genuine vacancy. Visit the sponsor licence application guide for more information. 
• Sponsor Licence Fees: Small businesses typically pay £574, while larger institutions pay £1,579. For more information, visit the sponsor licence fees guide. 
• Processing Time: Applications typically take up to 8 weeks, but using the Sponsor Licence Priority Service can reduce the processing time to 10 working days.

Once your sponsor licence is approved, you will receive a sponsor licence number, which allows you to assign Certificates of Sponsorship (CoS).

Step 2: Assign a Certificate of Sponsorship (CoS)

Once you have your sponsor licence, the next step is to assign a CoS to the Chartered and certified accountants. This document provides key details about the job and the individual being sponsored.

• Defined vs Undefined CoS: Use a Defined CoS for Chartered and certified accountants applying from outside the UK, and an Undefined CoS for those already in the UK. Learn more in the Defined & Undefined Certificates of Sponsorship guide. 
• Required Documents: Provide details such as the Chartered and certified accountants’s portfolio, passport and job offer. Refer to Documents Required for Certificate of Sponsorship for a full list of necessary documents.

Step 3: Apply for the Skilled Worker Visa

Once the CoS is issued, the Chartered and certified accountants can apply for the Skilled Worker Visa.

• Visa Fees: Fees vary depending on the role and visa length—use the visa fees calculator to estimate the costs. 
• Immigration Skills Charge: Employers are required to pay this charge as part of sponsoring non-UK workers. This is separate from visa fees.

Conducting a Right to Work Check for Chartered and certified accountants

Before the Chartered and certified accountants begins working, you must conduct a right to work check to ensure they are legally allowed to work in the UK.

• Manual Right to Work Check: Verify original documents such as the Chartered and certified accountants’s passport and visa. 
• Online Right to Work Check: If the Chartered and certified accountants holds an eVisa, you can use the UK government’s online system to verify their right-to-work status.

For more details on how to perform these checks, see the right to work check guide.

Post-Hiring Responsibilities and Compliance

1. Record-Keeping and Reporting  
2. • Record-Keeping: Maintain accurate and up-to-date records of the Chartered and certified accountants’s employment details, salary and contact information. 
   • Reporting Changes: Report any significant changes to the Chartered and certified accountants’s role—such as promotions or salary increases—via the Sponsor Management System (SMS).
3. Sponsor Licence Duties and Compliance
4. Failure to comply with your sponsor licence duties can result in penalties or sponsor licence revocation, impacting your ability to sponsor future Chartered and certified accountantss.

How Borderless Can Help with Sponsoring Chartered and certified accountants

Sponsoring Chartered and certified accountants under SOC Code 2421 can be a complex process, but Borderless can simplify it for you. We offer comprehensive support to help you manage the entire sponsorship process.

End-to-End Sponsorship Support

At Borderless, we assist with:

• Sponsor Licence Application: Guiding you through the application process and ensuring all required documents are submitted correctly. 
• Certificate of Sponsorship Assignment: Streamlining the CoS process to make hiring easier. 
• Compliance Management: Helping you stay compliant with immigration laws to avoid penalties.

If you need assistance with hiring or sponsoring Chartered and certified accountants, get in touch for personalised support.

Conclusion

Hiring and sponsoring Chartered and certified accountants under SOC Code 2421 can be a rewarding way to enrich the cultural landscape of your organisation. By following the steps outlined in this guide, you can successfully navigate the sponsorship process while ensuring compliance with UK immigration laws.

For further guidance, Borderless is ready to assist you with all your sponsorship needs. Contact us for expert advice.