Employers
Funding & Costs for Employers
Apprenticeships provide a valuable opportunity for employers to develop and train their workforce, but the cost of such programs can be a barrier for some. Fortunately, a range of funding and grants is available to help cover the cost of apprenticeships. This page will outline the different types of apprenticeship funding for employers and grants available to help employers invest in apprenticeships and build a skilled and motivated workforce.
Apprenticeship Levy
If the Apprenticeship Levy applies to your business, you can use the funds for training. The levy is designed to place apprenticeship funding for employers directly in their hands, encouraging them to invest in and create apprenticeships. The levy applies to all employers across all sectors in the UK. The rate is set at 0.5 per cent of an employer’s pay bill, collected monthly via Pay As You Earn (PAYE).
Non-Levy Government Funding
The Government will provide at least 95% (or 100% in some cases) of the balance to cover the cost of your training if you are a non-levy paying employer, but some employers may be required to contribute the remaining 5% towards the costs of training.
Apprenticeship funding for employers is available for 100% of the full funds if your annual wage bill is less than £3 million and your apprentice is aged between 16 and 21 on their enrolment date. Apprentices aged 22 to 24 with an Education and Health plan are also fully funded for non-levy paying employers. You will be required to contribute 5% of the funding costs for other Apprentices.
Apprenticeship Levy Transfers
Employers who pay the Apprenticeship levy and have unused Apprenticeship funds can find employers who want to receive a transfer in a number of ways. For example, you could:
- work with employers you currently work with
- get in touch with other employers in your industry
- get in touch with an Apprenticeship Training Agency (ATA)
- work with regional partners
Our guide to Apprenticeship Levy Transfers
GOV UK Information
Government Grants
Teen Grant: The Teen Grant is a £1000 incentive for every new Apprenticeship that starts from 1st May 2017 for learners aged between 16-18. Payable at the end of months three and twelve of each learner’s qualification. This incentive also applies to any learner aged 19-24 from a care background.
Learner Loan Funding
We offer courses funded through The Student Loans Company (SLC) under the 19+ Advanced Learner Loans initiative – find out more about this here.
Navigate Apprenticeship funding with ease, call us for advice
Understanding and securing funding for Apprenticeships can be complex, but we’re here to simplify the process. A quick call with our experts will help you unlock the best funding options and grants available to your business.
Call Us Today on 01983 475006
