In July 2020, the Government announced its Plan for Jobs scheme. This scheme will launch a wave of new Apprenticeship incentives for employers. The plan is to help kickstart the nation’s economy and allow for job growth. In honor of the value apprentices have on our economy, employers receive an incentive payment when hiring someone through an Apprenticeship. This payment is available from the start of August 2020 to the end of January 2021.
Protocol has 24 years of experience in delivering training programmes. Through these programmes, we inform employers of the incentives available should they take on an apprentice. The benefits of each Apprenticeship are also listed and linked to their unique business needs.
To be eligible, the apprentice MUST be a new hire. Meaning, they MUST NOT have a history with the business within six months leading up to the contract start date.
£2,000 for any business taking on a new employee through an Apprenticeship. This is on top of the current incentives that are listed below.
£1,500 for any business taking on a new apprentice over the age of 25.
Businesses with less than 50 employees will have all of the Apprenticeship costs funded by the Government. This is for apprentices aged 16 to 18, with a 5% co-funding charge for 19+ learners.
£1,000 for any business taking on an apprentice aged 16 to 18 (or aged 19 to 24 with an Education Health and Care plan or care leaver). These employers will not have to pay the 5% contribution.
All employers MUST be registered on the Apprenticeship Service, Click Here For More Details.
From the start of September 2020, the Apprenticeship Service is how employers will make claims. Employers will receive two instalments on day 90 and day 365. There is no limit on the number of incentive payments that an employer can claim. As long as each apprentice is eligible.
Employers with a payroll of more than £3 million a year must pay the Apprenticeship Levy. Funds can be accessed through the online Apprenticeship Service and will expire after 24 months. If an employer struggles to spend all of their levy funds, they can transfer 25% to other employers.
Employers with a payroll of less than £3 million a year are exempt. From April 2019, at least 95% of the Apprenticeship training and assessment costs will be paid for by the Government. The employer will, however, make a 5% payment to the provider.
To find more about the Government’s Plan for Jobs and how you can apply for the scheme, head on over to protocolgroup.org.uk/government-incentives.
If you are interested in Apprenticeships for your business or yourself, give us a call on 0121 236 2634 to speak to a member of staff.