The government has announced that it is bringing forward the £700m package of reforms, to help small businesses take on more apprentices.
From 1st April 2019:
the rate of co-investment will be reduced from 10% to 5% for all new apprenticeship starts, with government funding of 95% provided to cover the remaining costs.
levy paying employers wishing to support apprenticeships in other businesses (e.g. across their supply chains) can transfer up to 25% (up from 10%) of the annual funding in their apprenticeship service account.
Expiry of funds will be on a rolling 24-month cycle
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