Small and Medium Employers
With a wage bill less than £3million per annum you can tap into readily available training funding pots.
If you don't pay the Apprenticeship Levy
For Small and Medium Employers with an annual wage bill of less than £3million, the government will pay 100% of your Apprenticeships training costs if:
- Your apprentice is aged 16-18 and you employ less than 50 staff.
- Your apprentice is aged 19-24 with an education, health and care plan provided by their local authority or has been in the care of their local authority.
In all other instances, the government will fund 95% of the training and assessment costs for up to 10 apprentices, and you fund the remaining 5%.
If your apprentice is aged 16-18, you are also eligible for a £1,000 incentive payment. The £1,000 is paid to the employer in two equal instalments, at the 3-months and 12-months point of the apprenticeship.
Reserve your funding
To reserve your funding, you will need to create an Apprentice Service Account to manage your apprenticeships, provide information on the apprenticeship you are looking to use, and what month you need the training start.
Find a levy paying business to fund your apprenticeship costs
Levy-paying businesses can pledge up to 25% of their unspent Levy Funds to a business of their choice.
For more information about apprenticeships and funding, contact our team for a free consultation.
Please complete the form below and one of our advisors will get in touch with you.