Changes to Apprenticeship Funding April 2019
From April 2019, if you’re a small-to medium-sized business and you want to employ an apprentice, you’ll benefit from increased government support.
For new starts from 1 April 2019 the rate of government ‘co-investment’ is increasing from 90% to 95%. This means you’ll only need to contribute the remaining 5% towards the cost of training and assessing your apprentices.
This also applies to larger employers who pay the apprenticeship levy and want to invest more in apprenticeship training than they hold in their apprenticeship service account. If you have insufficient funds to meet the full cost of training and assessment in any given month you will only need to co-invest 5% of the outstanding balance – the government will pay the rest.
If your apprentice started before 1 April 2019 then the 10% rate of co-investment still applies. All employers need to meet, in full, any costs above the funding band limit for any particular apprenticeship. You can find out more about apprenticeship funding bands here.
Need further information? Our employer services team will be happy to answer any questions you have about changes to apprenticeship funding. Leave us your details and we’ll be in touch.