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Hey, first off congrats on your VS offer and the upcoming AC! You're doing so well!

To answer your question, yes you can accept one scheme and decline another, it happens a lot.

Personally, when I was juggling my scheme offers from last year I just accepted whatever came in first and then worried about clashed dates later when I'd received all my offers. So instead of declining one or another (after all the more chances at a TC the better right?), I emailed grad rec and asked if I could be switched to a summer scheme instead of a spring or just do a later scheme in the summer. From my experience, most firms are pretty flexible with this kind of thing, but it really depends on the firm.

You could email this firm now and ask if you can switch scheme dates, that way if you do get the VS with your first choice firm you'd still be in the clear. I think this would be a good approach because the sooner you let the firm know you need to switch dates the less likely it is that they'd have made preparations to onboard you and the easier it would be to move!