For companies who pay less than £3 million on their payroll, including SMEs, the mandatory cash contribution from companies will be 5%. 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 leaver or a and young person with an Education and Health Plan.
The Government is proposing that employers with fewer than 50 employees will be exempt from paying 5% of the training costs if they employ a 16-18 year old, a young care leaver or a young person with an Education and Health Plan.
Contact our apprenticeship team today on email@example.com or call 08000 380 123.