Apprenticeship funding for employers
- Employers that take on an apprentice aged 16 to 18 will receive a £1,000 government incentive to help with the costs associated with taking on a younger worker.
- Employers that take on an apprentice aged between 19 and 24 who have previously been in care can also access a £1,000 government payment.
- Small employers below 50 people can train apprentices aged 19 to 24 who have left care at no cost.
Find the latest information on government incentives here.
Co-investment and apprenticeship levy connected companies
The co-investment option sees employers pay 5% of apprenticeship course costs, with the government contributing the remaining 95%. This means that non-levy paying companies have the option to access an apprenticeship programme by paying 5% of the cost.
If a levy paying company runs out of funding in their account, the co-investment option is available for them too. The co-investment rate was reduced from 10% to 5% in April 2019. Non-levy payers are able to reserve a maximum of 10 apprenticeship starts a year.
Government contribution for levy payers
The government tops up all levy payments into your digital account by 10%. As an example, for every £100 an employer pays into their levy fund, there will be £110 in the digital account.
Have more questions? Get in touch with our expert team to find out how we can optimise your apprenticeship levy.