Support for businesses extended until 31st March 2021
On the 9th of July 2020 the Chancellor of the Exchequer announced that businesses will be given £2,000 for each new apprentice they hire under the age of 25. This is in addition to the existing £1,000 payment the Government already provides for new 16-18-year-old apprentices and those aged under 25 with an Education, Health and Care Plan.
What better time to invest in people and ensure your new employees have the knowledge and skills to succeed.
Find out more detailed information about these new incentives here.
Apprenticeships have changed
Apprenticeships have changed and iCount can help you make the most of this exciting opportunity to train your finance team.
The new form of apprenticeship is designed to help apprentices develop the skills which your business needs in the workplace. Apprentices are expected to develop and demonstrate key skills and behaviours as they go about their daily work.
Employers are in the driving seat – the new apprenticeship standards have been developed by employers to develop the skills which they need in their workforce. iCount will also work with you to tailor our apprenticeship programme to meet your business needs.
Introduction of the new apprenticeship levy – from April 2017, employers with a wage bill of more than £3 million are paying a 0.5% levy. The government’s aim is to raise £3 billion a year to support the creation and improve the quality of apprenticeships in the UK. Employers will receive a £15,000 allowance to offset the payment of the levy, which will be paid in vouchers. This is accessed through your organisations Apprenticeship Service Account.
Smaller organisations will also have access to apprenticeship funding. The government will contribute £90 for every £10 paid by the employer. There is a £1000 incentive available to employers if the apprentice is aged 16 to 18 at the start of the apprenticeship This funding is accessed through your training provider.
- Level 3 Assistant Accountant (AAT)
- Level 4 Professional Accountant/Tax Technician (AAT/ACCA/CIMA/ICAEW)
- Level 7 Professional Accountant (ACCA/CIMA/ICAEW)
If you want advice on how these could benefit your organisation, please email email@example.com or call us on 0161 228 6564 and we will be happy to call you back. We can also advise on how your new and existing trainees may be able to benefit from this new apprenticeship for their ongoing professional studies.
Who is eligible for an apprenticeship?
Access to apprenticeships is now more open than ever before with apprenticeships available to:
- UK/EEA citizens resident in the UK for more than 3 years
- Existing or new employees (existing employees must need new skills or training)
- Employees educated to any level as long as they haven’t learned the knowledge previously
- Employees of any age
Key features of the new Apprenticeship Standards
- Designed by employer “Trailblazer” groups
- Focused on allowing apprentices to develop more practical skills and behaviours in the workplace
- To facilitate this development a minimum of 20% of the apprentice’s contracted hours is to be spent on off-the-job learning
- Apprentices demonstrate their knowledge and how they’ve developed throughout the apprenticeship in an End-Point Assessment
How does an apprenticeship with iCount work?
- Study towards a professional qualification by attending our classroom courses
- Attend Skills and Development days to introduce apprentices to the key behaviours they will need to demonstrate and develop in the workplace
- Regular work-based visits from our Skills and Development Coach to help plan the apprenticeship and support and monitor progress
- Support with managing the 20% off-the-job learning for apprentices
To view our sub-contracting policy, click here.