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 the funding available for our finance and accountancy apprenticeship programmes.
As announced by the government in July 2020, employers in England can apply for extra funding when they hire new apprentices between 1 August 2020 and 31 March 2021. The funding is for apprentices aged:
- 16 – 24, employers receive £2,000
- 25 and over, employers receive £1,500
Employers must claim the incentive directly from the ESFA and can start to do this from 1 September 2020. There is no limit on the number of incentive payments that employers can claim.
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 ages 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.
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 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%.