Non – Levy Employers
When a business has an annual wage bill which is less than £3m, the business is not required to pay a levy contribution. This would put you into the category of an SME which means apprenticeships can be co-funded. Through a co-funded apprenticeship, the employer would contribute 5% of the apprenticeship value and the government would contribute the remaining 95%. This is managed through the Digital Apprenticeship Service (DAS) online account. An employer can recruit a maximum of ten apprentices at any given time. If the employer has fewer than 50 employees and the new apprentice is under the age of 18, the government will meet 100% of the apprenticeship funding value.
£3,000 for each new apprentice who has an employment start date between the 1st October 2021 and the 31st January 2022 and an apprenticeship enrolment date before the 31st March.
The above payment would further increase if you recruited an apprentice between the ages of 16 to 18 years or under 25 with an Education, Health and Care Plan, meaning that some employers could receive £4,000 in total.
Incentives are paid in two equal instalments at 90 days and 365 days.