Earlier this year the chancellor announced that businesses paying the apprenticeship levy could transfer 25% of their levy funds to SMEs in their supply chain – up from the 10% allowance.
In the Budget the chancellor announced further plans to incentivise smaller employers to take on apprentices. Employers that don’t pay the levy will now pay only 5% towards the cost of an apprentice’s training, down from the previous 10% co-investment rate. This change is expected to come into effect from April 2019.
There may be additional support for those taking on apprentices aged 16-18 or eligible care leavers. You can find out more about ACCA's apprenticeship programmes, and get more information on technical funding guidance via the gov.uk pages or by contacting ACCA's technical advisory team.