Apprenticeship Funding

Apprenticeship Funding

*** Due to the global pandemic the Government introduced an incentive payment to every employer that employs a new apprentice. For every new apprentice you employ you’ll receive £3,000, if that apprentice is aged 16-18 then you will also received an extra £1,000. ***

Understanding the Apprenticeship Levy

The Apprenticeship Levy will be paid by employers who have a paybill in excess of £3 million. The levy will be charged at a rate of 0.5% of an employer’s paybill. Each employer will receive an allowance of £15,000 to offset against their levy payment.

In England, control of apprenticeship funding will be put in the hands of employers through the Digital Apprenticeship Service. We can work with you to set up your account and get your employees started on their apprenticeship journey.

If you have used your levy pot, you will only have to make a contribution of 5% towards the cost of apprenticeships.

Did you know that you can also transfer some of your Levy funds to a different company. This helpful video gives you more information.

Non-Levy Paying Employers

If your annual pay bill is less than the £3 million threshold and you have 50 or more employees you will have to make a contribution of 5% towards the cost of the apprenticeship and the government fund the other 95%.

Employers with fewer than 50 employees will have 100% of the training and assessment costs covered when training a 16-18 year old (or 19-24 year old formerly in care or has a Local Authority Education, Health and Care plan.)

Did you know that if you offer a 16-18 year old a work experience placement you could receive £1,000.

From the 31st July 2020, all apprenticeships provided in England will be ‘standards’ not ‘frameworks’, focusing on:

  1. knowledge
  2. skills
  3. behaviours and with an end point assessment

Have you got any questions? Want to discuss with one of our expert team? Call 01254 54659 or email [email protected]

When on the Digital Apprenticeship Service, you may need our provider number – 10006987

*All payments are subject to Government funding and completion of all relevant paperwork

 

£4000

additional incentive for the hiring of an apprentice*

*T&Cs apply

Register for the Government's Apprenticeship Service A guide to using your Apprenticeship Service Account A guide to transferring funds Get in touch

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