£4,000 Cash Grant For Companies Employing Apprentices
Employers of all sizes in England can now apply for extra funding to help them employ apprentices in the latest drive to revolutionise the skills and training offer across the country. The boost to the ‘Apprenticeship Incentive Scheme’ was confirmed by the Chancellor in the Budget in March. Businesses can apply to claim up to £4000 for each new apprentice hired as a new employee from 1 April until 31 January 2022.
In a nutshell, if you have hired a member of staff after the first of April 2021, you are entitled to claim an incentive of £4000 if they are aged 16-18 as a Government grant. If you have hired a member of staff over the age of 18 regardless of age you will receive £3000 for putting them into further training. If the member of staff you have hired, is also under 25, the government will pay your NI employer contributions for the duration of the apprenticeship.
Cash Incentives For Employing Apprentices
The cash incentive is designed to help more employers invest in the skilled workforce they need for the future, as part of the government’s Plan for Jobs. It builds on the extensive action already underway to protect, support and create more jobs while bringing our skills and education system closer to the employer market and widening the opportunities that are available, as we build back better from the pandemic.
Chancellor Rishi Sunak said, ‘Young people have been hit especially hard by the crisis – which is why our Plan for Jobs launched last year is focused on helping them get the skills they need to get the jobs they want. By boosting the cash incentives for our apprenticeship scheme we’re improving opportunities for young people to stay in and find work – this could not be more important in our economy’s recovery.’
Gillian Keegan, Minister for Apprenticeships and Skills added, ‘Apprenticeships are a fantastic way for employers large and small to grow their businesses and will continue to play a key role in our economic recovery. This cash boost will help even more employers to invest in their future workforce, creating more high-quality apprenticeship opportunities so businesses have the skilled talent pipeline they need to thrive, not just today but also in the future.’
Apprentice Training Scheme Applications
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