The way that Apprenticeships are funded is changing.
From April 2017 all organisations with a wage bill of £3million or more will be required to pay
into the Apprenticeship levy.
- Organisations with a wage bill of less than £3million per year will be able to access government funding to cover 90% of the cost of an Apprenticeship.
- Additional financial incentives now apply to small organisations and those taking on young persons which can offset the 100% employer contribution.
- Organisations paying the levy will use their levy funds plus a 10% contribution from governments to pay for Apprenticeships.
- Where a levy fund has been used up, any organisation can procure more Apprenticeships with the government funding 90% of the cost.
Contact us here for more information
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