Levy, funding and grants for apprenticeships
With changes to the way apprenticeships are funded, it’s time to make sure you’re getting the most from your investment.
In April 2017, the Government introduced a compulsory levy for all companies with an annual payroll of more than £3 m. The amount you pay will be 0.5% of your total payroll costs.
The money will go into your digital apprenticeship account via HMRC and funds will expire 24 months after issuing unless you spend them on apprenticeship training through educational providers, such as the University of Hertfordshire.
The money you pay into your digital account will be topped up by the Government by 10%. You can then use this to pay for degree apprenticeships through the University of Hertfordshire.
For non-levy paying companies the Government will fund 90% of fees.
Non-levy paying employers
Support with apprenticeship costs
Non-levy paying employers will share the cost of training and assessing their apprentices with government – this is called ‘co-investment’.
From May 2017, you will pay 10% towards to the cost of apprenticeship training and government will pay the rest (90%), up to the funding band maximum.