INCENTIVE PAYMENTS FOR HIRING A NEW APPRENTICE

When you hire new apprentices between 1 August 2020 and 31 January 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.
 
 
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.

SnippetImageLink

You can register as a student online today. It's the first step towards gaining your ICB qualifications by examination.

Read more
SnippetImageLink

You can take an ICB assessment at any time of year. Find out how to apply online, by telephone, or through an Accredited Training Provider.

Read more
SnippetImageLink

ICB has over 5200 assessment centres around the world so you can take your assessment locally. Find out which assessments are centre-based.

Read more
SnippetImageLink

Many ICB assessments can be taken from the comfort of your own home. Find out what you need to complete a home-based assessment.

Read more
QuoteImageLink
I chose to do an ICB apprenticeship to further my knowledge and understanding. Jo Burke, Assistant Accountant Apprentice
Read Jo's apprenticeship story
loading