Whether you are an employer looking to invest in an apprentice or an individual seeking a training course or employability skills, speak to us about finance and funding options that might be available to you.
Some options are detailed below. Our team can support you in exploring any additional funding to best suit your needs.
Funding for individualsAdvanced Learner Loans (for those aged 19 or over)
If you are aged 19 or over on the first day of your course, and you plan to study at Level 3, 4 or 5 you may qualify for an Advanced Learner Loan. This covers the cost of your qualification and is paid directly to us. It’s a great way to get a qualification that you may not have previously been able to afford! Read more.
Funding for employers
Upto £4,000 in government funding for employers hiring new apprentices (available until 30 September 2021): This new funding incentive aims to encourage and support employers to recruit new apprentices. Read more about this government incentive.
To be eligible, employers must be registered to the Apprenticeship Service system and have reserved funding before the apprentice is enrolled onto a course. All non-levy employers are required by the government to register onto this system in order to apply for any funding towards apprenticeships. Our team can assist you with the straight-forward registration process.
For more information about apprenticeships and the support available to employers, please contact us.
The Apprenticeship Levy
Levy paying businesses
All businesses with a wage bill of £3million or above are classed as levy paying businesses and will:
- Be charged at 0.5% of their wage bill including all earnings that are subject to class 1 National Insurance contributions.
- Be allocated a £15,000 Levy Allowance, so the business will pay 0.5% of their wage bill minus £15,000.
- Have a 10% top-up to the fund deposited into your apprenticeship service account by the government.
- Be offered an incentive payment of £1,000 for employing an apprentice aged 16-18.
- Pay the levy directly to HMRC through the PAYE process. Funds will be credited into the Digital Apprenticeship Service (DAS).
- Levy-paying employers are allowed to transfer funds to other employers, through the Apprenticeship Service. This means that they can work with another employer to help them take on an apprentice, increasing the skills base in their supply chain, sector or local area. Transfers can be made to any employer, including smaller employers in the supply chain, and apprenticeship training agencies.
- Levy-paying employers will can transfer up to 10% of the annual value of funds entering their apprenticeship service account.
Non Levy paying businesses
- Businesses with a wage bill under £3million are classed as non-levy paying and will:
- Receive funding from 95% to fully funded, dependent on the size of your workforce and the age of your apprentice.
- Be offered an incentive payment of £1,000 for employing an apprentice aged 16-18.
- An additional employer funding incentive of up to £2,000 is available until Wednesday 31 March 2021.
