Apprenticeships For Employers
Why An Apprentice ?
We believe in developing People to fulfil their potential we aim to help candidates gain more Knowledge and Skills through industry leading qualifications whilst employers continually improve their service through outstanding staff.
Apprentices offer many benefits to employers, for example:
- Expand your team – Apprentices are a great way to bring young, new talented individuals into your business/organisation.
- Develop existing staff – An apprentice enables you to grow and develop current staff members.
- Increased efficiently – 81% of employers report an increase in productivity as a result of talking on an apprentice.
- Increased loyalty – Apprentices are very committed to repaying the support and guidance offered by the employer.
Non levy paying businesses
How levy effects you if your annual pay bill is below 3 Million.
If your business has an annual pay bill (PAYE) of below 3 million pound then you will have government funding available to help pay for apprenticeships.
Here is a breakdown of how the funding works
16 – 19 year olds
If your company has more than 50 employees but still doesn’t pay the levy, you will pay 10% of training costs of each apprentice you take on.
If you are a small employer (fewer than 50 employees) there will be no cost towards training an apprentice who is under 10 or aged 19-24 with an EHC plan, providing the cost of their training is within the maximum funding band.
Employers who do not pay the Apprenticeship Levy will be subject to the same apprenticeship funding bands as employers who do.
£1,000 is available to any employer taking on a 16-18 year old apprentice, or a 19-24 year old with an EHC plan – the same as for levy paying employers.
From 2018, you will access funding through the new digital account.
19+ years old (Co-investment)
Co-investment is when employers share the cost of training and assessing apprentices with the government.
Your organisation may need to pay some of the cost, but the government will pay the rest up to the funding band maximum. If the apprenticeship started:
After 1 April 2019, your organisation must pay 5%
From 2018, you will access funding through the new digital account.
Understanding the ‘Apprenticeship Levy’ and how this will effect you…
How levy effects you if your Annual Pay Bill is above 3 Million.
If your business has an annual pay bill of over 3 million pound then you will already be paying into your very own levy account, you will be paying 0.5% of your annual pay bill into the account. This money is still yours to be used however this money can only be used for apprenticeships both of new employees and existing. This also renews every tax year and therefore any levy not used up with in a year it then doesn’t rollover to the next.
Click the button below to go to the government website to find out more about apprenticeship levy