Employers with a wage bill of less than £3m are able to obtain full and majority funding for the cost of the apprenticeship qualification. Funding is now requested and drawn down by the employer by opening up a Government gateway portal at which point employers can request funding and the provider you wish to engage with to deliver that training which we of course we hope is The STC Group. More details on this new process can be found here https://www.gov.uk/guidance/manage-apprenticeship-funds#history
Funding can only be used to contribute to the cost of the actual apprenticeship qualification. The employer must finance the Trainees / Apprentices wages.
If you are an organisation that employs less than 50 employees and you recruit or upskill a 16-18 year old the cost of the qualifications are free, fully funded by the Government and drawn down from your non-levy apprenticeship portal.
If you are an organisation that employs 50 employees or more or an organisation of any size that recruits or upskills someone that is aged 19+ the employer pays a 5% +VAT contribution towards the cost of the qualification whilst the Government provides the remaining 95%. The 5% +VAT contribution is paid by the employer to the provider and must be recorded and captured by the provider for funding audit purposes.
Levy and Non-Levy employers can also obtain a Government incentive of £1,000 if they enrol a 16-18 year old onto an Apprenticeship qualification. This is drawn down by the provider and passed on through 2 instalments through the duration of the apprenticeship: £500 after 3 months and £500 after 12 months.
More details of our apprenticeship provision can be found below. To speak to one of our employer engagement team please call 0345 565 2656 or make contact via our enquiry form, below.