For those employers, whose annual pay bill does not exceed £3 million, there will be no requirement to pay the Apprenticeship Levy. Employers with fewer than 50 employees, and who recruit an Apprentice aged 16-18, will have 100% of the cost of training and delivery for the Apprenticeship paid by the Government.
Existing staff aged 16-18 can also undertake an Apprenticeship, which will also be 100% funded by the Government. An additional grant of £1000 will be available to all non-levy paying employers who recruit an apprentice aged 16-18. This is paid in equal instalments at month 3 and month 12, via the training provider. Employers of any size, who recruit an Apprentice aged 19+ will be required to contribute 10% of the cost of training, with the remaining 90% paid by the Government. If an employer has more than 50 staff, they will be required to also contribute 10% of the cost of training regardless of the Apprentices age.
Further Information : https://www.gov.uk/government/publications/apprenticeship-levy-how-it-will-work
|Cost of Apprenticeship||£3200|
|Government Funding at 90%||£2880|
|Cost to Employer||£320|
|Length of Programme||12 months|
|Cost per month||£26.60|
|Cost per week||£6.66|