Financial support for apprenticeships
In the Chancellor’s Summer Economic Update, new financial support was announced for employers hiring apprentices that are new to the business (i.e. not existing or recent employees). When an apprentice is hired between 1 August 2020 and 31 January 2021, businesses will be given:
- £2,000 for each new apprentice they hire under the age of 25
- £1,500 for each new apprentice aged 25+
This is in addition to the existing £1,000 payment the government provides for new 16-18-year-old apprentices and those aged under 25 with an Education, Health and Care Plan (EHCP).
More support for employers
For more support and guidance, you can: