Apply
Prospectus Apply Now

Employers – Costs & Finance of Hiring an Apprentice

10 Apr 2018

[et_pb_section fb_built=”1″ _builder_version=”3.22″ background_color=”#eeeeee”][et_pb_row module_class=” et_pb_row_fullwidth” _builder_version=”3.25″ width=”94%” width_tablet=”80%” width_phone=”” width_last_edited=”on|desktop” max_width=”94%” max_width_tablet=”80%” max_width_phone=”” max_width_last_edited=”on|desktop” make_fullwidth=”on”][et_pb_column type=”4_4″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_slider show_arrows=”off” show_pagination=”off” _builder_version=”3.16″ button_text_size__hover_enabled=”off” button_one_text_size__hover_enabled=”off” button_two_text_size__hover_enabled=”off” button_text_color__hover_enabled=”off” button_one_text_color__hover_enabled=”off” button_two_text_color__hover_enabled=”off” button_border_width__hover_enabled=”off” button_one_border_width__hover_enabled=”off” button_two_border_width__hover_enabled=”off” button_border_color__hover_enabled=”off” button_one_border_color__hover_enabled=”off” button_two_border_color__hover_enabled=”off” button_border_radius__hover_enabled=”off” button_one_border_radius__hover_enabled=”off” button_two_border_radius__hover_enabled=”off” button_letter_spacing__hover_enabled=”off” button_one_letter_spacing__hover_enabled=”off” button_two_letter_spacing__hover_enabled=”off” button_bg_color__hover_enabled=”off” button_one_bg_color__hover_enabled=”off” button_two_bg_color__hover_enabled=”off”][et_pb_slide heading=”Employers – Costs & Finance of Hiring an Apprentice” use_bg_overlay=”on” bg_overlay_color=”rgba(112,112,112,0.27)” use_text_overlay=”off” _builder_version=”3.16″ header_text_color=”#fcfcfc” background_color=”#7ebec5″ background_image=”https://springboard-ne.org.uk/wp-content/uploads/2018/04/chart-2785979_960_720-1.jpg” button_on_hover=”on” button_text_size__hover_enabled=”off” button_one_text_size__hover_enabled=”off” button_two_text_size__hover_enabled=”off” button_text_color__hover_enabled=”off” button_one_text_color__hover_enabled=”off” button_two_text_color__hover_enabled=”off” button_border_width__hover_enabled=”off” button_one_border_width__hover_enabled=”off” button_two_border_width__hover_enabled=”off” button_border_color__hover_enabled=”off” button_one_border_color__hover_enabled=”off” button_two_border_color__hover_enabled=”off” button_border_radius__hover_enabled=”off” button_one_border_radius__hover_enabled=”off” button_two_border_radius__hover_enabled=”off” button_letter_spacing__hover_enabled=”off” button_one_letter_spacing__hover_enabled=”off” button_two_letter_spacing__hover_enabled=”off” button_bg_color__hover_enabled=”off” button_one_bg_color__hover_enabled=”off” button_two_bg_color__hover_enabled=”off”][/et_pb_slide][/et_pb_slider][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”3.22″ background_color=”#eee” custom_margin=”-20px||100px|”][et_pb_row _builder_version=”3.25″ custom_margin=”30px|||”][et_pb_column type=”4_4″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_text _builder_version=”4.2.2″ hover_enabled=”0″]

If you’re an employer with a salary bill over £3 million each year, you must pay the apprenticeship levy from 6 April 2017.

If you have less than 50 staff, the service is fully funded. If you have over 50 staff, there is a 5% employer contribution, for example a Business Admin Level 2 will cost the employer £200.

In either scenario, if you employ a 16-18 year old learner, you will receive a cash incentive grant of £1000.

More than £1.28 billion paid by employers is languishing unspent in the National Apprenticeship Service accounts, according to new data analysis commissioned by The Open University (OU). Just one year on from the introduction of the Apprenticeship Levy, organisation have paid in more than £1.39 billion but only withdrawn £108 million. Any funding that remains in their National Apprenticeship Service accounts will expire after 24 months.

If the money is not used within 24 months, it will be made available for smaller businesses to spend on Apprenticeship schemes, and it will NOT go back to the employer.

The minimum wage for a 16-18 year old Apprentice is £4.15 per hour, employed a minimum of 30 hours and a maximum of 40 hours. If you employ someone aged 19+ working towards their first Apprenticeship, the minimum wage is £4.15 for the first 12 months.

Employers who hire a new apprentice between 1 August 2020 and 31 January 2021 will receive a payment of:
·         £2,000 for apprentices aged 16 to 24
·         £1,500 for apprentices aged 25 and over

For more information on the Apprenticeship Levy please click here

To download our Employer Apprenticeship booklet please click here

For more information please email: sjovanovic@springboard-ne.org

 

[/et_pb_text][et_pb_text admin_label=”Social Sharing Buttons – DO NOT REMOVE” _builder_version=”3.27.4″]Share this article: [DISPLAY_ULTIMATE_SOCIAL_ICONS]
[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=”1″ admin_label=”Footer” _builder_version=”3.22.3″ background_color=”#e2e2e2″ custom_css_main_element=”background: e2e2e2! important;” global_module=”30427″][et_pb_row _builder_version=”3.25″ module_alignment=”center” custom_padding=”30px|||”][et_pb_column type=”4_4″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_text admin_label=”Find a course intro text” _builder_version=”3.27.4″ text_text_color=”#1f2c37″ text_font_size=”23px” text_orientation=”center” custom_padding=”|15px||15px” text_font_size_tablet=”21px” text_font_size_phone=”16px” text_font_size_last_edited=”on|phone”]

Subscribe to our newsletter for latest news and updates:

[/et_pb_text][et_pb_signup mailchimp_list=”Springboard NE|0ffa4494c4″ name_field=”on” name_fullwidth=”off” first_name_fullwidth=”off” last_name_fullwidth=”off” email_fullwidth=”off” footer_content=”

For more information on how we will hold and use your information inline with new GDPR legislation, please refer to our privacy policy.

” use_spam_service=”on” recaptcha_list=”Springboard|Springboard-0″ _builder_version=”4.2.2″ header_text_align=”center” body_text_align=”center” result_message_text_align=”center” form_field_text_align=”center” use_background_color=”off” custom_button=”on” button_text_color=”#ffffff” text_orientation=”center” background_layout=”light” button_text_size__hover_enabled=”off” button_text_size__hover=”null” button_one_text_size__hover_enabled=”off” button_one_text_size__hover=”null” button_two_text_size__hover_enabled=”off” button_two_text_size__hover=”null” button_text_color__hover_enabled=”off” button_text_color__hover=”null” button_one_text_color__hover_enabled=”off” button_one_text_color__hover=”null” button_two_text_color__hover_enabled=”off” button_two_text_color__hover=”null” button_border_width__hover_enabled=”off” button_border_width__hover=”null” button_one_border_width__hover_enabled=”off” button_one_border_width__hover=”null” button_two_border_width__hover_enabled=”off” button_two_border_width__hover=”null” button_border_color__hover_enabled=”off” button_border_color__hover=”null” button_one_border_color__hover_enabled=”off” button_one_border_color__hover=”null” button_two_border_color__hover_enabled=”off” button_two_border_color__hover=”null” button_border_radius__hover_enabled=”off” button_border_radius__hover=”null” button_one_border_radius__hover_enabled=”off” button_one_border_radius__hover=”null” button_two_border_radius__hover_enabled=”off” button_two_border_radius__hover=”null” button_letter_spacing__hover_enabled=”off” button_letter_spacing__hover=”null” button_one_letter_spacing__hover_enabled=”off” button_one_letter_spacing__hover=”null” button_two_letter_spacing__hover_enabled=”off” button_two_letter_spacing__hover=”null” button_bg_color__hover_enabled=”off” button_bg_color__hover=”null” button_one_bg_color__hover_enabled=”off” button_one_bg_color__hover=”null” button_two_bg_color__hover_enabled=”off” button_two_bg_color__hover=”null”][/et_pb_signup][/et_pb_column][/et_pb_row][/et_pb_section]

Share this post

More blog posts