Financial support is available to support your business' training & development
The Government introduced a levy for apprenticeships in April 2017. The new system supports apprenticeship training by drawing funds from large UK employers via an apprenticeship levy.
- UK employers with an annual paybill worth more than £3 million will be required to pay the levy.
- Eligible businesses will pay the levy at a rate of 0.5% of their annual paybill that is above the £3 million threshold through the PAYE process (regardless of whether or not they employ apprentices).
- Non-levy paying businesses will share the cost of training and assessing their apprentices with the government; they will pay 10% towards the cost of apprenticeship training and the government will pay the rest (90% - and in some cases 100%).
- There is also a £1,000 incentive for employers who recruit a 16-18 year old apprentice.
If you would like to find out how much your organisation will need to pay, visit the following government website to estimate your apprenticeship funding.
Advanced Learner Loans – for continuing professional development
Advanced Learner Loans give students aged 19+ in further education, studying eligible level 3-6 courses, access to financial support for tuition costs. They are managed by the Student Loans Company.
CONTACT US to find out more about the funding available to support organisational training and development