Published: March 03, 2021

Budget News - Employer incentives increased!

Employers can now clain up to £5000 for taking a Traineeship and Apprentice from April until September 2021

Chancellor Rishi Sunak delivered his spring budget and confirmed a doubling of apprentice incentive payments for employers.

Apprenticeship financial incentives were first introduced by the chancellor in Augustm2020 and currently offer firms £2,000 to take on apprentices aged 16 to 24, while those that employ new apprentices aged 25 and over are paid £1,500.

The chancellor said that the bonuses, set to end this month, will be extended for a further six months to September.

Any employers who hire a new apprentice between 1 April 2021 and 30 September 2021 will receive £3,000 per new hire, regardless of the apprentice’s age. This is on top of the £1,000 payment already provided for new apprentices aged 16 to 18 and if you take them on a work trial through our Traineeship programme before starting the apprenticeship, you can qualify for an extra £1000, meaning that you could receive £5,000 in total!

For more information on the new incentives or if you’d like to discuss how we can assist you in helping to find an apprentice for your business, please get in touch with the Business Development Team at .(JavaScript must be enabled to view this email address)

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