Funding

Understanding funding and support for Apprenticeships

Why choose SR Apprenticeships?

We offer a wide range of free of charge support and information services

SR Apprenticeships provide a detailed consultation process, identifying the right Apprenticeship(s) for your unique business needs

Our specialist team of recruiters offer support for all of your recruitment needs whether this is assisting your internal team or as a standalone service

Our team offers a training and development plan which reflects your requirements and the specific needs of your Apprentices

Our team provide ongoing review and testing of your Apprentices progress offering easily accessible reports providing formal and informal feedback

Our team provide training to support your Apprentices with off-the-job learning including online learning modules to enhance their experience

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Funding in England

Funding for Apprenticeships

Funding for Apprenticeships is split between two types: an Apprenticeship Levy and a Co-Investment Arrangement.

When you contact SR Apprenticeships, our specialist team will be able to discuss your unique needs and advise the best way in which your Apprentices will be funded and any additional support that is available to your company.

How does the Levy Allowance work?

Apprenticeship Levy: Annual Bill of more than £3 million.

As an Employer with an annual pay bill of more than £3 million, you spend 0.5% of your total pay bill on the Apprenticeship Levy which is reported and paid to the HRMC via the PAYE process.

You receive a ‘Levy Allowance’ of £15,000 per year, meaning that the total amount you need to spend is 0.5% of your pay bill, minus £15,000.

Government Apprenticeship Incentives

The Government provides various incentive plans for Employers to encourage the hiring of Apprentices. For example, Employers can get £1,000 for Apprentices aged 16-24 or 25 and over with an education and health care plan. 

From time to time the Government introduces additional support and incentives for Employers. Currently the Government has introduced incentives of up to £2,000 to support Employers who hire new Apprentices, including redundant Apprentices. This is only available for a limited time with the scheme ending on 31st March 2021.

Get in touch to find out the latest news on this support and what it means for your business.

Non-Levy Employer Funding

Co-Investment Arrangement:
Annual Pay Bill of less than £3 million.

If you’re an Employer of less than £3 million then you are entitled to the Co-Investment Arrangement in which 95% is Government funded and 5% Employer funded. However, there is a 100% Government contribution for small Employers who take on an Apprentice aged 16-18, 19-24 care leavers, or 19-24 with an education and health care plan.

Funding and Eligibility

Requirements for a funded Apprenticeship