Funding Options |
Since April 2017 the way in which apprenticeships are funded has changed and is based on how many employees and the size of your pay role.
However whatever the size of your organisation we will advise you on how you will get the maximum benefit for your organisation.
| Organisations with a salary bill of less than £3m but has more than 50 people on pay role |
Salary bill of more than £3m |
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| Contribute 5% of total training costs (monthly installments) |
Contribute 0.5% of your annual salary bill into the Apprenticeship levy |
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| Funding available to train up existing staff or recruit apprentices (even those at degree level) | Train existing staff or recruit apprentices using funds that will be located in your digital account. (These funds expire after 24 months) | |
| 16-18 year olds 100% Government funded for organisations under 50
£2,000 Plus the existing £1000 for any 16-18 1st August 2020- 31 January 2021 £1500 cash incentive for recruiting an apprentice over 25 1st August 2020- 31January 2021
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Get out more than you put in For every £1 that enters your digital account, you get £1.10 to spend £2000 cash incentive for recruiting an apprentice under 25 1st August 2020 -31 January 2021 £1500 cash incentive for recruiting an apprentice over 25 1st August 2020- 31 January 2021 |
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