Cash Incentives for Employers to Hire Apprentices
07 September 2020
As England adjusts to the new normal, the Government has introduced a financial support plan designed to encourage the creation of new apprenticeships.
As part of the Government’s Plan for Jobs, employers will receive £2,000 for each new apprentice aged under 25, and £1,500 for each new apprentice, aged 25 and over, up to the 31st January 2021. This includes taking on an apprentice who has been made redundant.
The new cash incentives for employers are in addition to the existing £1,000 payment for new 16-18 year-old apprentices, and those aged under 25 with an Education, Health and Care Plan. The incentive payment for hiring a new apprentice can be used on anything to support organisational costs, for example facilities, uniforms, apprentices’ travel or their salary.