As the country is slowly being phased back into operation, it was excellent news to hear Chancellor Rishi Sunak announce the Government were backing apprenticeships and giving recognition of the value apprenticeships bring to our economy, by offering employers financial incentives if they recruit a new apprentice into their business.
The announcement is a fantastic support to employers of all sizes and Absolute Works are excited to be share the details with you.
For all employers (regardless of their apprenticeship levy paying status) wishing to employ a new apprentice between 1st August 2020 and 31st January 2021, there is financial incentive available for each new apprentice recruited as follows:
- Apprentices aged 16-24 – Employers can claim £2000 via the apprenticeship service.
- Apprentices aged 25 and over – Employers can claim £1500 via the apprenticeship service.
- The existing £1000 employer incentive for new apprentices aged 16-18 will also remain in place, this is paid to employers via their training provider.
- The incentive payments will be made in two equal installments at day 90 and day 365 of the apprenticeship.
- Any newly recruited apprentices must not have been in the employment of the employer within the six-month period prior to their contract start date.
- There is no restriction on the number of incentive payments an employer can claim, providing each new apprentice meets the criteria and eligibility outlined by the apprenticeship funding guidance.
Contact Tom on Thomas@absoluteworks.co.uk or give Tom a call on 01926 355560