Recognising the value that apprentices bring to the economy, the Government’s Plan for Jobs includes updates to the apprenticeship funding policy, with incentive payments for employers who hire new apprentices before the end of January 2021.
The purpose of these incentives is to support employers create high quality opportunities following the disruption of Covid-19.
The incentive payments apply if you recruit an apprentice between now and 31 January 2021. Provided the eligibility criteria are met, there will be no limit on the number of incentive payments you can claim.
There are three levels of payment based on the age of the apprentice:
- £3,000 if your apprentice is aged 16-18
- £2,000 if your apprentice is aged 19-24
- £1,500 if your apprentice is aged 25 or over
You can claim these incentive payments from 1 September 2020. The payment will be made directly to you in two equal instalments, where the apprentice is still in learning at day 90 and day 365.