Stop press - extra apprenticeship funding for small employers
We are very pleased to bring you news from the government regarding additional apprenticeship funding for small employers.
Transfers are being introduced to give bigger levy-paying employers more flexibility in how they spend their apprenticeship service funds. Big employers will be able to use their own levy pot to fund apprenticeships in another organisation. This is excellent news for smaller businesses and we feel SMPs will benefit from this change greatly.
As an SMP, you’ll be able to use the additional funds available to you to recruit new talent, training and moulding apprentices to your own business. What’s even better for small businesses who employ fewer than 50 people is that the government will fund all of the apprenticeship training costs, up to the maximum value of the funding band for the apprenticeship. ACCA is fully supportive of this initiative; we believe it will enable you to unlock the real potential of your business as well as develop your workforce to drive growth and competition.
To summarise - levy-paying employers can work with another employer to help them take on apprentices, thereby increasing the skills base in their supply chain, sector or local area. We have outlined the key timings for you on this beneficial change below. Please contact us to discuss your options fully.
End of April 2018
● Levy-paying employers will be able to see their transfers allowance in their apprenticeship service account.
● A new transfers estimator tool will help employers to plan the apprenticeships they could fund with a transfer.
● There’ll be more support videos online to help you register on, and use, the apprenticeship service, including how to make and receive transfers.
● Employers that do not pay the levy will be able to register for an apprenticeship service account enabling them to receive a transfer.
● Levy-paying employers will be able to agree to fund apprenticeships in one other organisation through a transfer.
● Receiving employers will be able to start adding details of their apprenticeships to the service.
Click here to find out more information on ACCA’s apprenticeship offer.