Apprenticeships

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INCENTIVE PAYMENTS FOR HIRING A NEW APPRENTICE

When you hire new apprentices between 1 August 2020 and 31 March 2021, you can apply for extra funding to give your organisation a boost.

For apprentices aged:

16 to 24, you’ll receive £2,000
25 and over, you’ll receive £1,500

The payment is in addition to the existing £1,000 you’ll already get for taking on an apprentice who is:

aged 16 to 18 years old
under 25 and has an education, health and care plan or has been in the care of their local authority

You could get the incentive payment when you hire an apprentice who’s been made redundant, as long as they’re new to your organisation.

>> FIND OUT HOW TO APPLY FOR THE INCENTIVE PAYMENT

SPEND IT ON HELPING YOUR ORGANISATION THRIVE

An incentive payment for hiring a new apprentice is different to the apprenticeship levy, and you can spend it on anything to support your organisation’s costs. For example, you could spend it on facilities, uniforms, your apprentice’s travel or their salary. You won’t need to pay it back.

GOVERNMENT GUIDANCE

BOOKKEEPING AND ACCOUNTANCY APPRENTICESHIPS THROUGH ICB

Apprenticeships offer a funded route into a bookkeeping career, professional ICB membership, and higher accountancy qualifications. Age is no longer a barrier to becoming an apprentice and there is no time limit to complete an apprenticeship. Smaller businesses looking to employ an apprentice can get up to 95% of training costs paid by the government for new recruits or existing staff, and further funding is available in some instances.

ICB is an end-point assessor for the following apprenticeship standards:

Accounts/Finance Assistant (Level 2)

Assistant Accountant (Level 3)

Payroll Administrator (Level 3)

For more details about finding one of ICB's accredited apprenticeship training providers or on becoming or hiring an apprentice please email apprenticeships@bookkeepers.org.uk or telephone us on 0203 405 4000.

Employers wanting more information about recruiting an apprentice can call the National Apprenticeships Service on 08000 150 600 for free impartial advice.