Will my business have to pay a Contribution?
You will be a Levy Payer if your annual PAYE exceeds £3 million.
You will pay a 5% contribution (Co-Investment) if your annual PAYE is less than £3 million, you have 50 + employees or your apprentice is 19 years +.
Employers of less than 50 employees taking on one or more apprentices aged 16-18 do not have to contribute as the Government funding is 100%
Are there any funding incentives for employers?
There is a £1,000 incentive for each 16-18 yr old Apprentice recruited paid in 2 instalments (at 3 and 12 months after the start date).
Other funded support is available towards the cost of Functional Skills in Maths/ English for the Apprentices and is paid to the training provider.
There may be further incentives available depending on the individual circumstances of the Apprentice recruited. These will be discussed during initial meetings.
How much will I pay?
Less than 50 staff and apprentices to be recruited are 16-18 years old:
0% contribution. Skills Funding Agency contributes 100%.
Less than 50 staff and apprentices to be recruited are 19+ years old:
5% contribution (it is estimated that this will be between £200 (equine groom) and £300 (senior equine groom) payable in instalments or as a whole). Skills Funding Agency contributes 95%
More than 50 Staff or Levy payers with apprentices recruited, 16 years plus:
5% contribution (as above)
If you wish to discuss any matters regarding apprenticeships please do not hesitate to contact us.