Sources of funding
Apprenticeship Levy payers
Employers who pay the Apprenticeship Levy can claim it back to pay for training and assessment of apprentices by government-approved providers. If the amount they have paid is insufficient, the government will co-fund 90% of the difference, up to the maximum funding level for that particular apprenticeship.
Employers who are not required to pay the Apprenticeship Levy can also get 90% co-funding from the government for training and assessment of apprentices, up to the maximum funding level for each apprenticeship.
You could also be eligible for additional funding and support, depending on your apprentice’s circumstances or if you are a small employer with fewer than 50 employees.
Degree and Higher Apprenticeships
These programmes enable people of all ages to earn a wage while studying for a higher level qualification. Higher Apprenticeships are available at a range of levels, from Level 4 to Bachelor’s and Master’s degrees.
With The Nationwide Apprenticeship University, learners can gain professional as well as academic qualifications.
Who is eligible?
- New recruits or existing staff
- Anyone over 18
- Minimum qualification criteria vary, depending on the apprenticeship and specific employer requirements. Credits can be given for pre-existing knowledge.
The Apprenticeship Levy
If you have a pay bill of over £3m, you are required to pay the Apprenticeship Levy to HMRC– however you can use it to pay for training and assessment of apprentices (but not to pay their wages). You will need to register for the apprenticeship service so you can manage your apprenticeship funds. You will be able to pay for training and assessment from your account.
The government will apply a 10% top-up to the funds you have to spend in your account.
If you don’t have enough funds in your account to pay for the apprenticeship training you require, the government will pay 90% of the remaining costs up to the funding band maximum allocated to a particular apprenticeship. You will need to co-fund the remaining 10%. If the cost of your apprenticeship programme exceeds the funding band maximum, you will have to pay the additional costs.