Extra incentives for apprenticeships

Hi there,

As a social enterprise, our mission is to harness the energy and innovation of young talent to help businesses thrive. In yesterday’s budget, Rishi Sunak announced extra incentives for apprenticeships to ensure they have the skills they need to thrive in the digital age. I hope you find it useful and please do get in touch if you have any questions.

James, MD, Working Knowledge

There could be as much as £14,750 in extra incentives for apprenticeships,  your business could take advantage of if you take on a new employee right now

Rishi Sunak’s Covid-19 incentives for employing an apprentice will increase from £2,000 to £3,000 from 1st April to 30th September 2021, regardless of age. If they happen to be 18 or under on the day they start (they could be 19 the day after!), you get an additional £1,000. You also don’t pay employers National Insurance for apprentices under 25 so that’s a saving of c. £1,300.

Also, if your employee is on an apprenticeship, the government covers 95% of the training cost. In the case of Marketing , the government sets the training costs at £11,000, so the government contribution is £10,450.

  • £3,000 covid-19 incentive
  • c. £1,300 Employer’s NIC waiver
  • £1,000 18 yo bonus
  • £10,450 worth of training

That’s up to £14,750 of incentives for an apprentice over the age of 18, and £15,750 for an apprentice who is 18 or under. This is money readily available to upskill your business right now – it’s a no brainer!

Other news!

We’re really proud to announce that we’ve had five brilliant new businesses join our academy this month!

A warm welcome to: Birtellis, Alexander Daniels Global, JOSKOS, ReThink Tax and Locamed

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