Apprenticeships are suitable for people at any level so you can hire someone new or upskill an existing employee, allowing you to grow talent and develop a motivated, skilled and qualified workforce. They help you to: Offer on-the-job training in a safe working environment, build a culture of learning and development, enjoy higher staff retention and morale and promote diversity and inclusion in the workplace.
How are Apprenticeships Funded?
This is determined by the wage bill of your business ...
The wage bill of your business will inform which funding route you need to tap into. You can read more below, but you don't need to worry about the facts, just give us a call and leave the hard work to us.
Small & Medium Employers (Non-Levy)
Annual wage bill less than £3m
Those with an annual wage bill of less than £3m do not pay the Apprenticeship Levy.
Instead, 95% of each apprenticeship is funded by the government whilst a 5% investment is required by the employer to enhance the skills of their employee.
Employers are also be eligible for a £1000 incentive payment if the apprentice is aged 16 – 18.
Employers with less than 50 employees and where the apprentice is aged 16 – 18, the government will fund 100% of the apprentice and are eligible for a £1000 incentive payment.
Employers with those aged 19+ the government will continue to fund 95% of the apprenticeship programme whilst a 5% investment is required by the employer.
Businesses can manage this through the Apprenticeship Service online account.
For more information and guidance on this service then please get in touch with our team, who can give you further information.
The Apprenticeship Levy was launched to encourage employers to use apprenticeship programmes, either for new staff or to upskill an existing employee, to help reduce the skills gap within England’s workforce. The levy applies to all businesses with wage bills of more than £3m.
We’re here to make sure you get value for your payments, without the headaches.