An update on Apprenticeships from the National Apprenticeship Service
Organisations could be missing the 2 year expiry deadline on your apprenticeship funds
Once your apprenticeship funds have entered your account, they expire after 2 years on a rolling 24 month basis and you lose the choice on where these funds are spent. It’s your choice how to use your transfer allowance. Your apprenticeship service account will show your current funds. As a sending employer, you can check your funds which may be due to expire funds as well as your available funds to transfer.
Other employers are already benefiting from transfers
As an employer paying the apprenticeship levy you have an allowance, currently up to 10% of your annual apprenticeship funds, that you can transfer to other employers. From April 2019 this will increase to 25%.
Levy-payers can transfer funds to other employers, subject to rules.This could be employers in your area, sector or supply chain, or even charities.
The funds can support new recruits or upskill people in the existing workforce. Levy-payers can fund apprenticeships in multiple organisations through transfers.
Apprenticeship funding policy update
Employers who do not pay the levy or who want to invest more in apprenticeship training than is available in their digital account, need to make a financial contribution, a ‘co-investment’, towards the cost of training and assessment of apprentices, with government funding the remainder.
From 1st April 2019, this government funding will cover 95% of the maximum funding band rate for all new apprenticeship starts. Employers will pay the remaining 5% co-investment payment direct to the training provider.
Where the negotiated price for the apprenticeship exceeds the funding band, the employer is responsible for paying the amount above the funding band maximum, direct to the training provider.
Find out more by clicking here
New Statistics Released
- Further Education and Skills (March 2019) [Download]
The Further Education and Skills publication includes provisional figures for the first two quarters of the 2018/19 academic year (August 2018 to January 2019).
Click here to download
- Apprenticeship and Levy Statistics (March 2019) [Download]
The Apprenticeships and Levy statistics publication includes apprenticeship service registration and commitments figures to the end of February 2019.
Click here to download