Funding is available for both new and existing employees, depending on the apprentice's age and experience.
England: National Apprenticeship Service
However, you may want to consider offering a more competitive salary for your apprentices to attract and retain the top talent. In some roles the wage may increase as the apprentice progresses and takes on more responsibility, and they are entitled to the same benefits as an employee, including a holiday allowance.
The apprenticeship levy is a compulsory tax on employers in England to help fund the development and delivery of apprenticeships, with the aim of improving the quality and quantity of those available. Employers fall into one of two groups: levy payers and non-levy payers.
Your wage bill determines if you pay the levy:
If your annual wage bill is £3 million or more you must pay the levy, whether you employ apprentices or not. The amount payable is 0.5% of your wage bill. All employers get a £15,000 allowance to offset the amount they have to pay.
The payments go into the online Apprenticeship Service,
which lets you manage your apprenticeship funding and delivery.
The levy can be used to pay for End Point Assessments, but not the registration or certification of non-mandatory qualifications.
If your annual wage bill is under £3 million, you don't have to pay the levy.
You'll contribute 5% towards the cost of the required apprenticeship training and the government will pay the remaining 95%.
Whatever size of business you are, taking on apprentices is a highly cost-effective way of recruiting new talent into your organisation.