Apprenticeship funding is changing!
Friday 24 February 2017 10.33am
From April 2017, you will be aware that the way that apprenticeships are funded is changing. You will no doubt by now have heard that large employers - classified by Government as those with an annual paybill of more than £3 million - will be required to pay a new apprenticeship levy of 1/2% of that paybill. They can then use this money to fund apprentices for their business.
But it's not just large employers who will be affected.
Apprenticeships will be moving from 'Frameworks' to 'Standards' and learners will have to undertake new end point assessments by independent assessors (ie not those who have seen them through their programmes). See the City and Guilds website for more information on the changes.
In addition, all employers who don't pay the Levy will be required to co-fund their apprentices' training. This is only 10% of the costs, but may be a significant change for some businesses.
What do you think of these changes?
How will they affect your business?
Will the changes encourage, discourage or make no difference to your intention to recruit apprentice(s) in your business?
We'd love to hear your views.
Direct all media enquiries to our Marketing team on 01432 firstname.lastname@example.org.