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Did you know that any business taking on a new apprentice between 1 August 2020 and 31 January 2021 qualifies for £2,000 from the government under their new apprentice incentive scheme? Qualifying apprenticeships include many training programmes aimed at graduates as well as school leavers.

It is hoped that the new payment will encourage businesses to take on more apprentices, something that has fallen by 74% over the last 12 months. The fund will be paid in two instalments, the first after 90 days and the second after 365 days, with the apprentice having completed a least one year’s employment with a business to qualify.

This new payment is different to apprenticeship levy funds and can be spent to support an organisation’s costs, for example, uniforms, apprentice’s travel or as payment towards their salary.

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To find out more about the scheme and how to apply, visit – https://www.gov.uk/guidance/incentive-payments-for-hiring-a-new-apprentice

Recent updates

The world of tax is constantly changing, so keep up to date on all our news, views and opinions

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Five minutes with Gurpreet Pawar

27 July 2021

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9 July 2021

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New Chairman for rapidly-growing specialist tax firm

1 July 2021

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