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Find a business to fund apprenticeship training

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Changes to apprenticeship funding rules

Training and assessment costs. If you don’t pay the apprenticeship levy, you must normally make a 5% contribution to an apprentice’s training and assessment costs; the government pays the other 95%, up to the funding band maximum (every apprenticeship standard is allocated to a funding band which caps the maximum the government will pay). However, for new apprentice starts from 1 April 2024, the government will fund 100% of the training costs, up to the funding band maximum, for apprentices up to the age of 21.

Transfer of levy funds. Levy-paying employers can also now transfer up to 50% of their levy funds to other employers, up from 25%.

Tip. If a new apprentice won’t qualify for 100% funding of training costs, you can apply for a transfer of levy funds from a levy-paying employer to cover 100% (up to the funding band maximum) (see The next step ).

To find a business to fund apprenticeship training, visit https://www.tips-and-advice.co.uk , Download Zone, year 26, issue 8.