Apprenticeship funding and fees
In this section, you can find out everything you need to know, as a levy or non-levy paying employer, about government funding available for our finance and accountancy apprenticeship programmes. Whether you’re a levy or non-levy paying employer, we’ll go through the apprenticeship funding rules for training providers.
Government funding for apprenticeships
An extension to funding was announced in the Budget by the government in March 2021. For new apprentices hired between 1 April and 30 September 2021, employers will receive £3,000 per apprentice, regardless of their age. They must have an apprenticeship start date between 1 April and 30 November 2021.
Employers must claim the incentive directly from the ESFA. There is no limit on the number of incentive payments that employers can claim. Watch the ESFA YouTube video here.
These payments are in addition to:
- the existing £1,000 incentive that employers already receive for taking on an apprentice who meets workplace requirements
- National Insurance savings of 13.8% for apprentices aged 25 years old and under
Contact your local Business Development Manager to find out more about the business benefits of our finance and accountancy apprenticeships.
- Find out more about what the funding covers in relation to the fees for the Level 4 Accounting Technician Apprenticeship
- Find out more about what the funding covers in relation to the fees for the Level 7 Accountancy Professional apprenticeship
How does the apprenticeship levy work?
The apprenticeship levy was introduced to give employers more control when providing training opportunities. The introduction of levy funding means there is more money available than ever before for apprenticeship training. It allows employers to choose which apprenticeships they offer. Find out more about apprenticeship costs as a levy-paying or non-levy paying employer below:
Levy paying employers
All UK employers with an annual pay bill of more than £3m are charged a levy of 0.5%. Employers can spend their funds on ICAEW finance and accounting apprenticeships, for existing and new staff providing they meet the criteria.
Non-levy paying employers
Employers who do not pay into the apprenticeship levy can access funding via a government-employer co-investment. Non-levy paying employers make a 5% contribution and the government will pay the remaining 95%.