For companies who pay less than £3 million on their payroll, including SMEs, the new mandatory cash contribution from companies will be 10%. This is a considerable reduction compared to plans previously announced by the Government, when the proposal was that companies, including SMEs, would pay one third of the Apprenticeship training costs.
The Government has committed to fully paying the costs of English and maths training.
The Government is proposing to pay employers £1,000 if they take on a 16-18 year old, young care leavers and young people with an Education and Health Plan.
The Government is proposing that employers with less than 50 employees will be exempt from paying 10% of the training costs if they employ a 16-18 year old, a young care leaver or a young people with an Education and Health Plan.
For levy-paying companies (where payroll is over £3 million per annum), those companies will receive a 10% monthly top up of the funds held in their Digital Apprenticeship Service account
Contact our apprenticeship team today on [email protected] or call 08000 380 123.