Apprenticeship financial incentives currently offer firms £2,000 to take on apprentices aged 16 to 24, while those that employ new apprentices aged 25 and over are paid £1,500.
The chancellor announced that the bonuses, set to end in March 2021, will be extended for a further six months to September 2021. And any employers who hire a new apprentice between 1 April 2021 and 30 September 2021 will receive £3,000 per new hire, regardless of the apprentice’s age.
This is on top of the £1,000 payment already provided for new apprentices aged 16 to 18 and those under 25 with an Education, Health and Care Plan, meaning that some employers could receive £4,000 in total.
At LAT Apprenticeships we can help and advise you on funding matters relating to apprenticeships, including how to claim these incentive payments. Please call on 07729 115972 or email info@latapprenticeships.org.uk
Further information regarding employer incentives can be found at https://www.gov.uk/guidance/incentive-payments-for-hiring-a-new-apprentice