Apprenticeship funding proposal announced

Apprenticeship funding proposal announced

Employers with 50 or fewer employees will have up to 100% of their apprenticeship training costs funded by the government.

The government has announced more details about its apprenticeship programme and the funding that will be available to businesses that take on apprentices.

The proposals relate to the reform of apprentice funding in May 2017.

An apprenticeship levy of 0.5% of a company’s annual tax bill will be payable by companies with a pay bill of £3 million or more.

Those employers too small to pay the levy (around 98% of employers in England) will have 90% of their training costs paid for by the proceeds.

Extra support worth £2,000 per apprentice will also be available for those that take on apprentices that are 16-18 years old or young care leavers. Small employers will have 100% of their costs funded for taking on these apprentices.

The final details will be confirmed in the autumn