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How does £3000 sound? Learn more about Apprentice grants
Apprentice Grants Available As you may know its National Apprenticeship Week here in the UK. However what you may not ...
Apprentice Grants Available
As you may know its National Apprenticeship Week here in the UK.
However what you may not know, you can actually be paid to hire an apprentice!
As part of our series of blogs to demonstrate why trade companies should be looking to hire apprentices, we want to shine some light on the government employment grants.
£3,000 available to hire
To help businesses’ recover from Covid-19, last year the chancellor Rishi Sunak has announced the Government will pay employers to hire apprentices.
This grant is worth £2,000 per apprentice for those under the age of 25 and £1,500 for those aged 25 and over. This money is in addition to the existing £1,000 payment the Government already provides for new 16-18-year-old apprentices and those aged under 25 under some circumstances. Making it a total grant of up to £3,000.
Who can claim apprentice grant?
As with all things, there are a few rules you need to be aware of, for example the grant is available for new apprentices. You can’t decide to make an existing employee an apprentice I am afraid! However you can hire an existing apprentice that may have been made redundant by another employer – allowing access to a wider talent pool.
What can you use the grant on?
The good news is, there are no rules about how you can spend the grant. You can use the incentive to help meet any of the costs associated with supporting a new apprentice in their workplace: including facilities, uniforms, and apprentice travel.
It can also contribute to meeting the costs of an apprentice’s wages. Individual employers can choose how to spend the money to support their apprentices depending on their individual circumstances.
How do you make a grant claim?
Having gone though this at Powered Now here is the good news, it's incredibly simple. You need to register your business though the apprenticeship service, we use the brilliant team at HTP, although there are lots of providers across the country.