The way in which your apprenticeship is funded will depend on the size of your organisation and annual turnover.

 

49 or less employees and a salary bill of less than £3 million

Apprenticeship training will be fully funded if the apprentice is aged between 16-18 or 19–24 and is a care leaver or has an Education and Health Care plan.

If the apprentice is aged 19 and over and is not a care leaver and doesn’t have an Education and Health Care plan, the Government will fund 90% of your apprenticeship training costs.

CASH INCENTIVE AVAILABLE

If your apprentice is aged between 16-18 or 19 – 24 and is a care leaver or has an Education and Health Care plan, you will receive an additional £1000 Government payment.

 

50 or more employees and a salary bill of less than £3 million

95% of your training will be funded by the Government. The remaining 5% is paid by your company in equal instalments across the agreed training period.

CASH INCENTIVE AVAILABLE

If your apprentice is aged between 16-18 or 19 – 24 and is a care leaver or has an Education and Health Care plan, you will receive an additional £1000 Government payment.

 

A salary bill of more than £3 million

You will already be paying the Apprenticeship Levy.

The Apprenticeship Levy is a mandatory government tax that will be payable by all UK employers with a pay bill over £3million. You will contribute 0.5% of your annual salary bill into the Levy.

The levy is collected through monthly HMRC deductions and the amount you pay will be credited to the apprenticeship. The monies you build up in this account is yours but must be spent on apprenticeships. It cannot be used on wages or other staff expenses. You have 24 months to spend levy funds.

 

For further information and for full costs of all of our apprenticeships please contact us on 0161 280 8650 or enquire here.

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