The apprenticeship levy aims to boost productivity, address the skills gap and encourage knowledge development to meet the unique needs of businesses across the UK.
Hiring an apprentice or developing an existing employee through a degree apprenticeship is a cost-effective way to recoup the levy and invest in the future of your business. If you wish to spend more on apprenticeship training than you have in your digital account, you will be able to co-invest in the same way that organisations below the threshold can.
Employers below the levy threshold
If your business is below the levy threshold, you can benefit from co-investment. You will need to make a 10% contribution to the training costs, and the Government will pay the remaining 90%, up to the maximum amount of funding available for that apprenticeship.
Smaller employers may also receive a £1,500 apprenticeship grant if they have less than 50 employees or their apprentice is aged 16 to 24. Employers can claim grant support for up to 5 apprentices.
Find the latest information on apprenticeship funding on the gov.uk website.