Government incentive: Businesses to receive £3,000 for each new apprentice they recruit
Due to the economic impact of the coronavirus (COVID-19) outbreak, Rishi Sunak, Chancellor of the Exchequer, launched an incentive scheme to encourage employers to recruit new apprentices. This scheme was recently extended and the incentives were increased. From 11 January 2022, you will be able to apply for a payment of £3,000 for apprentices with an employment start date from 1 October 2021 to 31 January 2022. Applications close on 15 May 2022.
You can read more on the government website.
Please get in touch with our employer team on 01895 853780 if you would like to discuss hiring an apprentice.
Apprenticeship Funding
How it works
The apprenticeship funding rules differ depending on your employee size and wage bill. Whatever your business size is, HCUC Apprenticeships & Skills can help you to understand apprenticeship funding and advice on how you can maximise it to benefit your business. If you are unsure about how the funding works, call now to find out more from our experienced Account Managers today!
| Employer | You pay | Government pays | Incentive payments |
|---|---|---|---|
| Levy paying employer (£3m pay bill) | The cost of training from your digital account. 10% for any additional training. Any fees over the standard funding cap. |
90% of any fees your digital account will not cover within funding band cap £15,000 allowance per annum (paid monthly). |
£1000 for each 16-18 year old apprentice or 19-24 year old with a care plan or care leaver |
| Non-levy paying employer (50+ employees) | 5% of any apprenticeship training. Any fees over the standard funding cap. |
95% of any apprenticeship training fees within the funding cap. | £1000 for each 16-18 year old apprentice or 19-24 year old with a care plan or care leaver |
| Non-levy paying employer (fewer than 50 employees) | 0% of any apprenticeship training for 16-18 year olds & 19-24 year olds with a care plan or a care leaver. 5% for 19+ year old apprentices. Any fees over the standard funding cap. |
100% any apprenticeship training fees for 16—18 year olds & 19 year olds with a care plan or a care leaver. 95% for other apprentices within funding cap. |
£1000 for each 16-18 year old apprentice or 19-24 year old with a care plan or care leaver |
Use the Government's Calculator to work out if you will pay the levy.
Find out more about what help is available to
- hire new staff in a cost effective way
- train or progress your existing staff to specialist areas and
- create a pipeline of new talents for your bottom line.
Contact us
- Call us on 01895 853780