As of the 6th April 2019, the way the government funds apprenticeships in England changed.
Employers with a salary bill of under £3 million a year are now required to make a 5% contribution to the cost of apprenticeship training and the government will pay the remaining 95%. You will pay the 5% directly to a provider such as Shipley College in monthly payments over the length of an apprenticeship with an agreed payment schedule. As you and the government make a payment, it is called ‘co-investment’.
For more information see Apprenticeship Levy information for Small & Medium Employers (With A Salary Bill Of Under £3m)
Employers with fewer than 50 employees can receive additional financial support- please Contact our Business Development Team who can help you with this process.
Employers operating in the UK, with a salary bill over £3 million a year, are now required to contribute to a new Apprenticeship Levy. Employers can then access funds to train existing staff as well as new apprentices.
For more information see Apprenticeship Levy information for large employers (With a pay bill of more than £3 million)
For more specific information you can also see Gov.uk
You can find information regarding:
On the 8th July, the Government announced that from August 2020 to January 2021, any organisation that hires a new young apprentice aged 16-24, will receive £2,000, while those that hire new apprentices aged 25+, will receive £1,500.
This is in addition to the existing £1,000 incentive the Government already provides for new apprentices aged 16-18, and those aged 25 and under with an Education, Health & Care Plan where that applies.
This means, employers could receive up to £3,000 for hiring 16-18 year old apprentices during this 6 month incentive scheme.
Our professional, friendly staff will be happy to provide you with further information or visit you at your place of work.
Contact the Business Development Team.
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