Chartered accountants (ACA/ACCA) are among the most consistently well-paid professionals in the UK. From newly qualified associates in Big 4 firms to Finance Directors in industry, the salary trajectory is strong — but so is the tax burden at higher levels. This guide shows exactly what chartered accountants take home in 2026/27, including the personal allowance taper trap at £100k+.
Chartered Accountant Salary Bands
Level
Notes
Salary Range
Newly Qualified ACA/ACCA
Big 4 or mid-tier
£40,000–£55,000
Manager
Practice or industry
£55,000–£80,000
Senior Manager
Big 4 / top-tier firms
£80,000–£100,000
Director / Associate Partner
PA taper applies above £100k
£100,000–£130,000
Take-Home Pay Worked Examples (2026/27)
Gross Salary
Income Tax
Employee NI
Net Annual
Net Monthly
£48,000 (Newly Qualified)
£7,086
£2,834
£38,080
£3,173
£70,000 (Manager)
£15,432
£3,411
£51,157
£4,263
£105,000 (Director) ⚠️ PA taper
£30,432
£4,111
£70,457
£5,871
⚠️ At £105k: personal allowance reduced by £2,500 (from £12,570 to £10,070). Effective tax rate between £100k–£125,140 is 60%. No pension deductions shown.
Big 4 vs Mid-Tier vs Industry
Factor
Big 4
Mid-Tier
Industry
NQ salary (London)
£47,000–£53,000
£40,000–£48,000
£45,000–£60,000
Study support
Full (£5k–£10k fees)
Full
Variable
Pension
DC, 5–7% employer
DC, 3–6% employer
DC, 3–8% employer
Brand premium
High (CV value)
Moderate
Sector-dependent
Salary sacrifice pension
Common
Often available
Variable
Frequently Asked Questions
Frequently Asked Questions
What does a newly qualified ACA earn in the UK?
Newly qualified ACAs (ICAEW) typically earn £40,000–£55,000 in 2026/27. Big 4 firms (Deloitte, PwC, EY, KPMG) qualify at around £47,000–£53,000 in London. Mid-tier firms (BDO, Grant Thornton, Mazars) typically pay £40,000–£48,000. Industry finance roles can pay £45,000–£60,000 for newly qualified accountants.
What is the difference between ACA and ACCA qualifications?
ACA (ICAEW) is the qualification of the Institute of Chartered Accountants in England and Wales, typically completed through a training contract with an accountancy firm (3 years). ACCA is more flexible — it can be completed while working in any sector. Both are globally recognised. ACA is more common in Big 4 and top-tier practice; ACCA is more common in industry and SMEs.
Do Big 4 firms pay for ICAEW or ACCA study?
Yes. Big 4 and most mid-tier accountancy firms pay ICAEW exam fees (approximately £5,000–£10,000 in total) and provide study leave. This is a significant non-salary benefit. If you leave within a claw-back period (typically 12–24 months after qualification), you may need to repay some or all of the training costs.
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What is the salary premium for moving from practice to industry?
Moving from a Big 4 or mid-tier firm to an industry finance role (FD, Financial Controller, Management Accountant) typically provides a salary uplift of £5,000–£15,000 at qualification level. However, the pension quality often decreases (from employer-contributed DC schemes in Big 4 to company DC schemes) and career structure becomes less defined.
What is the take-home pay for a newly qualified accountant earning £48,000?
At £48,000 gross: income tax = £7,086 (20% on earnings above £12,570); employee NI = £2,834 (8% on £12,570–£48,000); net take-home = £38,080 per year or £3,173 per month. Big 4 pension contributions (typically 5–7% employer) are on top of this.
What is the take-home pay for an accounting manager earning £70,000?
At £70,000 gross: income tax = £15,432 (20% on £12,570–£50,270, then 40% on £50,270–£70,000); employee NI = £3,411; net take-home = £51,157 per year or £4,263 per month.
What happens to the personal allowance for chartered accountants earning over £100k?
Above £100,000, the personal allowance tapers at £1 per £2 of excess income. At £105,000, the effective PA is £10,070 (lost £2,500). This creates a 60% effective marginal tax rate between £100,000 and £125,140. A director earning £105,000 can make a £5,000 pension contribution to bring income back to £100,000 and recover £1,000 of PA, saving £1,000 in tax.
What is the take-home pay for a director earning £105,000?
At £105,000 gross with the PA taper applied (PA reduced from £12,570 to £10,070): income tax = £29,932; employee NI = £4,111; net take-home = £70,957 per year or £5,913 per month. A £5,000 pension contribution saves approximately £3,000 in tax in the taper zone.
How does salary sacrifice pension work in Big 4 firms?
Big 4 firms commonly offer salary sacrifice pension arrangements where employees redirect gross salary into their pension. This saves employee NI (8% up to £50,270; 2% above) and employer NI (15%) on contributions. Employer NI savings may be added to the pension contribution by the firm. At manager level (£70k), salary sacrifice of £10,000 saves approximately £800 in employee NI.
What career progression looks like in chartered accountancy?
Typical Big 4 career: Trainee (ACA study, £25k–£35k) → Newly Qualified Associate (£47k–£53k) → Senior Associate (£55k–£65k) → Manager (£65k–£80k) → Senior Manager (£80k–£100k) → Director (£100k–£130k) → Partner (variable, profit share). Each level typically takes 2–4 years. Partnership requires business development as well as technical excellence.
