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JOIN USEmployer Funding
Many of the employers we work with take advantage of some of the government’s funding schemes, allowing them to up-skill and develop their staff at a reduced or no cost.
Apprenticeship Incentive Payment
To help businesses and the economy recover from the impact of the coronavirus pandemic the Government introduced new financial incentives, which were increased further from April 2021.
For all employers who hire a new apprentice between 01 April 2021 and 30 September 2021, and the apprentice has started on their apprenticeship during this period, the following incentive applies:
• Recruitment of an apprentice for any age – £3,000
Apprenticeship Levy Funds
Apprenticeships deliver the whole package of on-the-job training and occupationally-relevant qualifications that develop the skills, knowledge, and expertise of your employees.
Levy Payer
Companies with an annual wage bill of over £3 million will have to pay an apprenticeship levy of 0.5% directly to HMRC through the PAYE process. The amount you have available to spend is calculated on a monthly basis as follows:
Your levy is 0.5% of your gross annual payroll, less a £15,000 allowance. The balance is then divided by 12 and rounded down to the nearest pound. This gives a monthly levy payment which is then multiplied by the % of your employees living in England. The government tops that up by 10%, which gives you the final monthly amount. Employers can use this allowance for apprenticeship training through an approved training provider such as Cambridge Regional College.
Co-Funded
Employers who are not eligible to pay the apprenticeship levy will have to pay 5% towards the cost of apprenticeship training. This can be paid in three ways:
• Upfront payment
• Instalments over the first three months
• Or, if over £900, instalment payments across 12 months
Fully-Funded
This applies to companies with less than 50 employees taking a 16-18-year-old apprentice. Apprenticeship training is fully funded for these companies which means there is no fee to you as an employer.
Apprenticeship Levy Funding
There are various funding schemes and incentives that Employers can access when recruiting an apprentice. Download our Employer Funding Fact Sheet to learn more about the funding opportunities that are available to businesses.
If you need further help understanding the Apprenticeship Levy or wish to find out how you can share Apprenticeship Levy with other companies, then visit www.levymatch.com to access our Apprenticeship Levy Match services.
We have a dedicated Business Development team who can work with you to assess your business’s needs and assist you in recruiting a suitable apprentice, contact them at training@camre.ac.uk
Lifetime Skills Guarantee
The government has recently launched new funding under the “Lifetime Skills Guarantee” (LSG), which allows for people aged 24 and over to study for their first full work-focused qualification at Level 3. Employers can use this scheme to provide their workforce with additional skills and knowledge.
Use the drop-down below to see if you are eligible to gain a fully-funded Level 3 qualification.
LSG Funding Criteria
• You will need to be aged 24 and over
• You have not previously achieved a full Level 3 qualification or equivalent.
Use the button below to explore the Adult Level 3 Programmes we offer at Cambridge Regional College.
Adult Education Funds
There is also an opportunity to get funding for any of our short courses, as well as Level 1 and 2 certifications, through the “Adult Education Budget” (AEB).
Use the drop-down below to see if you are eligible to gain a fully-funded Level 3 qualification.
AEB Funding Criteria
• Aged 19+ at the beginning of the academic year
• Lived in the EU for 3 years
• Earns less that £17,004 per year
Our Business Development Team are on-hand to discuss any funding opportunities. Should you have any questions, they can be contacted at training@camre.ac.uk.
