Finance & Funding for Apprenticeships
Apprenticeship Grants for Employers in the Liverpool City Region
LCR apprenticeship grants are available to all Liverpool City Region based small to medium sized businesses employing apprentices aged between 16 and 24 who have not recruited a new apprentice in the last six months.
- £3,000 could be available to SMEs recruiting 16-18 year old Apprentices
- £2,500 could be available to SMEs recruiting 19-24 year old Apprentices
- An additional £1,000 bonus could be available to SMEs recruiting advanced or higher Apprentices
Apprenticeship Levy – new from April 2017
From April 2017 the Government is changing the way it funds Apprenticeships. The new system supports apprenticeship training by drawing funds from large UK employers via an apprenticeship levy.
- UK employers with an annual paybill worth more than £3 million will be required to pay the levy
- Eligible businesses will pay the levy at a rate of 0.5% of their annual paybill that is above the £3 million threshold
- Businesses will have an allowance of £15,000 to offset against their levy payment
- Employers will then receive a digital voucher worth the amount of money they paid along with a 10% government top-up
Use this Government website to find out how much you will need to pay - Estimate your apprenticeship funding
To find out more about Age Grants or the Apprenticeship Levy contact our Business Development Team on 01704 392874 or email email@example.com