IS THERE A COST ASSOCIATED WITH TAKING ON AN APPRENTICE? Dependant on the size of your business and the age of your Apprentice, there may be a cost to take on an Apprentice. The Government set these costs based on the size of the business. Under 50 employees • If you employ an Apprentice aged 16-18, the Government will fund 100% of the programme fees. In addition to this, there is also a £1,000 incentive payment paid in two instalments • If you employ an Apprentice aged 19+, you are required to co- invest 5% towards the cost of the training More than 50 employees (but don’t pay the Levy) • You are required to co-invest 5% of the programme fees for any aged Apprentice • If you employ an Apprentice aged 16-18, you will receive a £1,000 incentive payment paid in two instalments
Levy Payer (payroll exceeds £3 million) • The full cost of the programme for any aged Apprentice will be taken in monthly instalments from your Digital Account • Should you have exhausted all levy funds, you will be required to co-invest 5% of the programme fees • If you employ an Apprentice aged 16-18, you will receive a £1,000 incentive payment paid in two instalments
For further information on costs or how to access your levy, please contact one of our team on 023 9279 4661
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