Apprenticeship Funding Guide
As of 1st May 2017, all employers with a wage bill of £3million will pay the Government’s Apprenticeship Levy of 0.5%.
Funds paid by companies will be accessible through a new digital account when covering the costs of apprenticeship training, which must be provided by an approved apprenticeship training provider.
‘Funding bands’ have been set out, which will determine the maximum an employer can spend from their digital account on an apprenticeship program. The bands will be determined by apprenticeship occupation (not by age), with any additional fees to be paid in full by the employer.
These changes will not affect companies within Scotland and Wales, whose funding will continue to be assessed as they are at present.
7th April 2017