The Government’s Plan for Jobs announced by the Chancellor of the Exchequer on 8 July included a range of measures aimed at supporting jobs, backed by £3.7 billion of public funding.
Hiring an apprentice is a productive and effective way for any business to grow talent and develop a motivated, skilled and qualified workforce. As the economy recovers from the coronavirus (COVID-19) outbreak, apprenticeships will be more important than ever in helping businesses to recruit the right people, and develop the skills they need to respond to conditions and grow – both now and in the long-term.
An incentive payment will be made to employers who hire an apprentice between 1 August 2020 and 31 January 2021.
- Apprentices aged 16-24 the payment will be £2,000, and for apprentices aged 25 or over the payment will be £1,500.
- The apprentice must be a new employee to the business, have an employment start date between 1 August 2020 and 31 January 2021 (inclusive) and must not have been employed by the employer within the six months prior to the start date.
- There will be no limit on the number of incentive payments that an employer can claim for apprentices eligible to receive funding
- Employers who take on a 16-18-year-old on an apprenticeship standard will receive an additional £1,000 to help meet the extra costs associated with this.
Our team are on hand to answer any further questions you have. For more information about apprenticeships and the incentive please contact us and we’ll be in touch.