Following the Chancellor’s March 2021 budget, we are supporting employers to access apprenticeship funding worth up to £4,000!
Following the Chancellor’s March 2021 budget, we are supporting employers to access apprenticeship funding worth up to £4,000!
In August 2020, the UK government introduced a funding incentive for employers recruiting new apprentices. The new budget has extended the scheme for a further six months to September 2021 and doubled the funding amount on offer.
Employers in England who hire a new apprentice between 1 April 2021 and 30 September 2021 will receive £3,000 per new hire, compared with £1,500 per new apprentice hire (or £2,000 for those aged 24 and under) under the previous scheme. This is in addition to the existing £1,000 payment the government provides for all new 16-18 year-old apprentices and those aged under 25 with an Education, Health and Care Plan, meaning that some employers could receive £4,000 in total.
Steve Hepworth, Managing Director of Independent Training Services Ltd./SmartStyle Training Ltd. (ITS), said: “Extending the funding scheme for apprenticeships will provide critical support to employers, the national workforce and students alike as the economy recovers from the COVID-19 pandemic.”
In order to qualify for the incentive payment, the apprentice must not have been employed by the same employer within six months prior to the apprenticeship start date, and their contract of employment must start between 1 April 2021 and 30 September 2021 (inclusive). There is no limit on the number of incentive payments that an employer can claim, provided they meet the required criteria set out by the Government.
Payments are made via the Apprenticeship Service, a government portal where employers can find, fund and manage their own apprenticeship programmes. All non-levy employers (with a wage bill below £3million) are required by the Government to register onto this system by April 2021 in order to apply for any funding towards apprenticeships. We can support this quick and straight-forward process.
ITS and Barnsley College are working with businesses to lead economic recovery and meet employers’ needs, both now and for future roles, by providing students and adults with the skills to succeed.
Contact us for more information about apprenticeships, funding and support for employers.
