Hiring and Sponsoring Financial and accounting technicians (SOC Code 3533)

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Hiring a financial and accounting technician under SOC Code 3533 gives UK employers access to skilled professionals who handle bookkeeping, payroll, accounts preparation and financial system monitoring. If you want to sponsor an overseas worker for this role, understanding the visa route, salary thresholds and compliance duties is essential before you begin.

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Key Takeaways

Essential Points for Employers

• Financial and accounting technicians fall under SOC Code 3533 on the UK's eligible occupation list for skilled worker sponsorship.
• Employers must hold a valid sponsor licence before issuing a Certificate of Sponsorship (CoS) to an overseas candidate.
• The role must meet the minimum salary threshold set by the Home Office for SOC 3533.
• Duties typically include bookkeeping, payroll processing, accounts preparation and financial system monitoring.
• Right to work checks must be completed before the worker's first day, regardless of visa type.

What Does a Financial and Accounting Technician Do?

Financial and accounting technicians support qualified accountants and finance managers by carrying out a range of technical and administrative tasks within finance functions. Their work is essential to keeping a business's financial records accurate and up to date.

Core Responsibilities

• Preparing and maintaining financial records, ledgers and accounts
• Processing payroll and ensuring accurate employee payments
• Reconciling bank statements and financial transactions
• Monitoring financial systems and flagging discrepancies
• Assisting with the preparation of management accounts and reports
• Supporting audits by gathering and organising financial data
• Handling invoicing, purchase orders and expense claims

Typical Work Settings

Financial and accounting technicians work across a broad range of sectors including professional services, healthcare, retail, manufacturing, and the public sector. They may be employed in-house within a finance team or work for an accountancy practice supporting multiple clients.

SOC Code 3533 and the Skilled Worker Visa

SOC Code 3533 covers financial and accounting technicians and appears on the list of eligible occupations for the Skilled Worker visa. This means UK employers with a sponsor licence can recruit from outside the UK for this role, provided all requirements are met.

Salary Thresholds for SOC 3533

From April 2024, the general salary threshold for Skilled Worker visa applications increased. For SOC Code 3533, the worker must be paid the higher of the general threshold or the going rate for the occupation. Employers should check the latest Home Office guidance to confirm the current figures before issuing a CoS.

Going Rate Considerations

• The going rate is based on the Annual Survey of Hours and Earnings (ASHE) data for the relevant SOC code.
• If the worker is a new entrant to the labour market, a reduced threshold may apply - currently set at 70% of the going rate.
• Salary must reflect actual hours worked and cannot be made up of non-guaranteed allowances to meet the threshold.

How to Sponsor a Financial and Accounting Technician

Sponsoring a worker under SOC 3533 follows the same process as any Skilled Worker sponsorship. Employers must work through several steps before the worker can apply for their visa.

Step-by-Step Process

1. Check that your organisation holds a valid sponsor licence with the appropriate rating for skilled workers.
2. Confirm the role meets the skill level (RQF Level 3 or above) and salary requirements for SOC 3533.
3. Carry out a Resident Labour Market Test if required, or confirm an exemption applies.
4. Assign a Certificate of Sponsorship (CoS) to the overseas candidate through the Sponsor Management System (SMS).
5. Ensure the candidate applies for their Skilled Worker visa using the CoS reference number.
6. Complete right to work checks before the worker's start date.
7. Maintain accurate records and report any changes in the worker's circumstances via the SMS.

Applying for a Sponsor Licence

If your organisation does not yet hold a sponsor licence, you will need to apply to the Home Office before you can issue any CoS. The application involves submitting evidence that your business is genuine, operating lawfully in the UK, and has suitable HR systems in place to meet sponsor duties. You can find full guidance on the UK government's sponsor licence page.

Sponsor Duties and Ongoing Compliance

Holding a sponsor licence comes with ongoing legal obligations. Failing to meet these duties can result in your licence being downgraded, suspended or revoked, which would affect all sponsored workers in your organisation.

Key Sponsor Obligations

• Record keeping: Maintain up-to-date records for every sponsored worker, including contact details, right to work documents and employment records.
• Reporting duties: Report changes such as absences, role changes, salary changes or if a worker stops working for you within ten working days.
• Cooperation with the Home Office: Allow Home Office compliance visits and provide requested information promptly.
• Preventing illegal working: Ensure all right to work checks are carried out correctly before employment begins.

Right to Work Checks for Financial and Accounting Technicians

For sponsored workers, the right to work check must be completed before the first day of employment. You should verify the worker's visa vignette or digital immigration status using the Home Office online checking service. Keep a record of the check and repeat it before the worker's permission to work expires.

Qualifications and Skills Employers Should Look For

When assessing candidates for a financial and accounting technician role under SOC 3533, employers should look for a combination of formal qualifications and practical experience relevant to the finance function.

Relevant Qualifications

• AAT (Association of Accounting Technicians) qualification at Level 3 or Level 4
• HNC or HND in accounting or finance
• A-levels or equivalent with a focus on maths or business
• Part-qualified ACCA, CIMA or ICAEW status may also be relevant

Practical Skills

• Proficiency with accounting software such as Sage, Xero or QuickBooks
• Strong numerical accuracy and attention to detail
• Understanding of VAT, payroll legislation and financial reporting standards
• Ability to work to deadlines and manage multiple tasks within a finance team

Costs Involved in Sponsoring a Worker Under SOC 3533

Employers should budget for several fees when sponsoring an overseas financial and accounting technician. These costs are separate from the worker's own visa application fees.

Employer Costs to Consider

• Sponsor licence application fee: £239 for small sponsors and charities; £1,682 for medium or large sponsors.
• Certificate of Sponsorship fee: £239 per CoS for skilled workers.
• Immigration Skills Charge (ISC): £1,000 per year for medium and large sponsors; £364 per year for small sponsors and charities. This applies for each year of the visa.
• Immigration Health Surcharge (IHS): Paid by the worker as part of their visa application, currently £1,035 per year.

These figures are subject to change. Always check the latest fees on the Home Office fees schedule before making financial commitments.

Frequently Asked Questions

Is SOC Code 3533 eligible for Skilled Worker visa sponsorship?

Yes. Financial and accounting technicians under SOC Code 3533 appear on the eligible occupations list for the Skilled Worker visa route, meaning UK employers with a valid sponsor licence can recruit from outside the UK for this role.

What salary must I pay a sponsored financial and accounting technician?

The worker must be paid the higher of the general Skilled Worker threshold or the going rate for SOC 3533. New entrants may qualify for a reduced rate. Always verify current figures against the latest Home Office guidance, as thresholds are reviewed periodically.

Can I sponsor a financial and accounting technician if my company is small?

Yes. Small businesses can apply for a sponsor licence and sponsor workers under SOC 3533. Small sponsors benefit from lower sponsor licence fees and a reduced Immigration Skills Charge, but must still meet all sponsor duties and compliance requirements.

Do I need to advertise the role before sponsoring an overseas candidate?

The formal Resident Labour Market Test requirement was removed when the Skilled Worker route replaced Tier 2. However, you must still ensure the role is genuine, meets the skill and salary thresholds, and that you are not using sponsorship to undercut resident workers.

How long does it take to get a Certificate of Sponsorship assigned?

Once you have an approved sponsor licence, assigning a CoS through the Sponsor Management System is typically straightforward and can be done within a few days. The worker then has three months from the CoS assignment date to submit their visa application.

What happens if I do not report a change in a sponsored worker's circumstances?

Failing to report changes such as a worker leaving, a significant change in duties or a salary reduction within the required timeframe is a breach of your sponsor duties. This can lead to a compliance visit, a downgrade to a B-rating, suspension or full revocation of your