The funding of apprenticeship standards and framework in England changed in 2017.
Large employers with a payroll bill of £3 million or more must now pay the apprenticeship levy. They can then access this money along with a 10% monthly top-up to fund apprenticeship training and development. Click to find out more about the apprenticeship levy.
For SME businesses with a payroll bill of less than £3 million, things are different. The Government pays 90% of total apprenticeship costs, with employers contributing 10%.
For those businesses with less than 50 employees, the Government will fund 100% of apprenticeship training for young people who are 16-18 years old.
We can talk to you in more detail about financial support and the changes to how apprenticeships are funded.
Q&AAre there different levels of apprenticeship?
There are different levels of apprenticeship:
- Intermediate apprenticeship Level 2 - apprentices gain the equivalent of five GCSEs at grades A-C
- Advanced apprenticeship Level 3 - apprentices gain the equivalent of two A-Levels.
- Higher apprentices Level 4-5 – apprentices gain the equivalent of a qualification such as a Foundation Degree.
- Degree-level apprenticeship Levels 6-7 – apprentices gain a degree-level qualification, helping to build
- the high-level technical skills needed for the jobs of the future
By now you’re probably wondering how you go about recruiting an apprentice.
YH Training can sit down with you to discuss your options and the necessary next steps. We’ll help you decide what types of apprenticeship would work for your business and develop training to suit your needs.
We will then be able to assist you in recruiting a suitable apprentice.
Not only are apprenticeships are suitable for new recruits, but they can also be used to up-skill existing staff.How does the apprenticeship levy affect my business?
Companies with a wage bill of more than £3 million are required to pay the apprenticeship levy, and some larger SMEs fall into this bracket.
So, what is the apprenticeship levy? It's a payment collected from large employers in the public and private sector and is paid to the HMRC via PAYE returns. Its purpose is to encourage employers to invest in apprenticeship programmes; recruiting new apprentices and boosting the skills of their existing workforce.
Looking to fund apprenticeship training? The apprenticeship levy paid by companies can be accessed by those same businesses to fund apprenticeship training within their company.
So, how much is the apprenticeship levy? The levy threshold is calculated by size of payroll. It’s 0.5% of a company’s payroll, with every employer receiving an allowance of £15,000 to offset against the amount they owe.
Businesses have been subject to the levy payment since April 2017 and it is payable each month.What about funding?
Looking for some financial support to allow you to take on an apprentice?
If you are under the threshold for the apprenticeship levy, you can apply for funding to cover the costs of an apprentice’s qualification and the amount you can get varies depending on their age.
We can talk to you in more detail about financial support and the changes to how apprenticeships are funded. Please give us a call or drop into one of our learning centres.How can an apprenticeship benefit my business?
Did you know, more and more employers are discovering the benefits of employing apprentices?
You might be one of the many companies out there to discover that embracing apprenticeships could be one of the best things you do.
Apprentices can help tackle skill gaps, injecting new talent and fresh ideas into your business to support its future growth and success.
Many apprentices become highly qualified and can go on to rise through the ranks to management level. They can be a real asset to your company. Apprenticeships offer a great mix of on-the-job training and academic-based learning to ensure candidates have the skills and experience that are right for your business.
What’s more, an apprentice doesn’t have to be newly recruited because apprenticeships are also a fantastic way to develop and up-skill existing members of staff.Read More Q&A
Apprenticeships we deliver....
- Business Administration
- Customer Service
- Healthcare Support Services
- Performing Manufacturing Operations
- Team Leading and Supervisor
- Warehousing and Storage
What's going on?
York Learning Centre Open Day
Want help to gain employment? Reach out and grasp YOUR FUTURE! You will increase your skills and knowledge to successfully gain an apprenticeship, employment or progress on to higher education. York Learning Centre are holding an Open Event on Friday 19th January 2018 Our advisors will be on hand to discuss career paths and any […]Read More