90% funding for apprenticeships in England
Last year, the government introduced the Apprenticeship Levy in England to tackle the skills shortage and encourage more employers to offer apprenticeships in their organisation. As part of this initiative, businesses in England can get help from the government to pay for apprenticeship training.
Recent research from the Open University has revealed that while levy-paying employers have embraced the apprenticeship funding policy, one in three (34%) non-levy paying organisations believe that the new funding rules don’t benefit them in any way.
However, this couldn’t be further from the truth. For businesses in England whose annual wage bill is less than £3m, government funding is available to cover 90% of the cost of apprenticeships.
If your organisation’s wage bill is over £3m, you can use your levy payments to take on an apprentice, and the government will top up your pot by 10%.
As such, you can access funding to train ICAEW CFAB and ACA students on an apprenticeship, whether you’re paying the levy or not.
Apprenticeships are a cost-effective way to grow your talent, but there are many other routes available to train a chartered accountant with ICAEW. We have summarised all the options available to you, depending on your location.
If apprenticeships aren’t for you, find out the other great ways to recruit the next generation of chartered accountants.
Outside the UK
Discover the routes available outside of the UK to train an ICAEW Chartered Accountant.