Incentive payments for hiring new apprentices

Apprenticeships are a fantastic way of employing someone into a role where they develop their skills with continuous on and off the job training, focused around the apprentice standard they are following. 

Due to the coronavirus pandemic, some organisations may face some challenges with hiring new apprentices, so the government have introduced an incentive payment scheme – fantastic, but how does it work?

• To be eligible you need to employ a new apprentice between 1st August 2020 and 31st January 2021, and you will receive:

  -  £2,000 for each new apprentice aged 16 to 24

  -  £1,500 for each new apprentice over the age of 25

• These payments are in addition to the £1,000 that employers already receive for taking on an apprentice aged 16 to 18 or under the age of 25 with an education, health and care plan.

• Employers can apply for the incentive payment from 1st September 2020, through their apprenticeship service account.  Payments from the government will be paid directly to the employer’s bank account.

• Employers will receive 50% after the apprentice completes 90 days of their apprenticeship and the remaining 50% after the apprentice complete 365 days of their apprenticeship. 

• The first payments will be made from January 2021.

To find out more about the employer incentive payment and how apprenticeships can help your business, please book a discovery call with Sue https://calendly.com/spottertalent/discovery-call