New scholarship scheme helps students gain hands-on industry experience

The first-ever recipient, Caitlin McStay, an MSc International Accounting with Data Analytics was awarded the chance to work with the Cookstown firm as part of a scholarship programme.

Launched in 2021 in partnership with Ulster University Business School (UUBS), the scheme offers students a unique opportunity to gain hands-on work experience with a fast-growing firm, alongside pursuing their academic studies.

Under the scheme, students get the chance to work with and learn from Chartered Accountants, Chartered Tax Advisors and other professionals who have vast experience working both in the private and public sectors.

The scholarship is kept flexible to provide driven and talented students, like Caitlin, the opportunity to gain vital industry experience and better understand what future employment in the sector will look like.

The idea for the scholarship came about as a result of the success from recruitment of UUBS graduates. Following this, there was a particular interest from Inspired Tax Incentives to further strengthen its ties with the Magee campus as a resource for local talent.

Leon Faulkner, an R&D consultant with Inspired Tax Incentives, formed a great relationship with Claire Scott-McAteer, lecturer in taxation and accounting at Ulster University Business School, said: “In 2021, we explored a few options with Claire Scott-McAteer who brought our attention to the MSc International Accounting with Data Analytics course. Claire suggested these students might have an appetite to gain some work experience, as well as the many other benefits of completing a scholarship.”

Caitlin McStay, who completed an undergraduate degree in Business Studies with Accounting at Magee was delighted to accept the award: “I am honoured to have received the award, I am very grateful for the opportunity to put my previous studies and learning into practice. I have started working in Inspired Tax Incentives and the work they do is so interesting. I’ve learnt so much already.”

Caitlin has ambitions of becoming a Chartered Accountant and plans to complete her professional exams in the future. Since starting with Inspired Tax Incentives, Caitlin has also considered the possibility of going on to do her Chartered Tax exams.

Inspired Tax Incentives was established in March 2020 and since then, their expansion has been rapid.

Leon explained: “Due to the organic growth and demand for our services, we are keen to explore any avenue that presents opportunities to attract talented individuals, particularly those who may be interested in a career in tax.

“Caitlin impressed us hugely during her interview as she had demonstrated a strong commercial awareness and a keen interest in our business. She also communicated her own goals and ambitions for further study toward professional qualifications after university. She has a great self-assuredness and demonstrates a good base understanding of tax and practical skills which she has developed through her previous studies and experience. It was clear to see there was a compatibility as since starting, she has integrated very well with the team. We are delighted to have her onboard!.”

During her time so far, Caitlin has been exposed to ongoing projects with many flagship clients, some of which are among the market leaders and biggest innovators within the UK.

Professor Sandra Moffett, head of Ulster University Business School at Magee, added: “The Business School at Magee is delighted to be collaborating with Inspired Tax Incentives, the MSc International Accounting with Analytics scholarship has emerged from the partnership. We look forward to many new and exciting opportunities in this field. It is great when local businesses support our students, both professionally and financially, encouraging and inspiring them to be industry-ready upon graduation. Caitlin is the first recipient of the scholarship, and we are jubilant that she is such a strong ambassador for the programme.”

The scholarship is open to individuals studying the MSc International Accounting with Analytics programme. Applications will open in Autumn 2022.

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