Apprenticeship funding is available for apprentices of any age and the funding amount that our MOET Standard is eligible for is £27,000.00 per apprentice. You can use this figure towards the overall value of MOET apprenticeship options. Apprenticeship funding is made available through the payments that businesses in England make via the Apprenticeship Levy.
If you are a levy payer (this means that your business will have a PAYE bill £3 million or more) then you can use the money that you are paying towards the levy as apprenticeship funding. If you are not a levy payer (this means that your business will have a PAYE bill under £3 million), then you can claim 90% of the eligible funding amount from the government but must pay 10% of it yourself.
To claim funding for apprenticeships, employers must ensure that the provider they are considering is registered on the governments Register of Apprenticeship Training Providers (RoATP). Being on the RoATP demonstrates that a provider has passed the various critical measures that the government has set. It means that they are confident it the providers ability to deliver the recognised apprenticeship standard that it applied for.
For more information on funding, the Apprenticeship Levy or how your business can benefit from an apprenticeship, please get in touch with us: