The government has introduced a set of changes to the way apprenticeships are funded, impacting on all employers looking to employ and train an apprentice.
These changes include:
introducing the apprenticeship levy
introducing the apprenticeship service - this is an online service that allows employers to choose and pay for apprenticeship training more easily
introducing a new ‘co-investment’ rate to support employers who don’t pay the levy (‘co-investment’ is when employers and government share the cost of training and assessing apprentices)
It is important to fully understand where your business requirements fit into the new scheme and how it will affect the funding and training of your future apprentices.
Depending on the size of your business, the apprenticeship levy will affect you in different ways.
A summary of the key points of the apprenticeship levy are outline below.
The apprenticeship levy scheme is a fantastic opportunity for businesses to obtain additional funding to train and grow apprentices within their business. However, for those not familiar with the new scheme or process, it can seem quite daunting and overwhelming.
To find out how to pay the apprenticeship levy and how to use the apprenticeship service please visit the governments website and read the guides that downloadable on this page.