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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.

Apprenticeship image

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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Tax firm announces appointment of Associate Tax Partner

19 February 2024

News

Self-Assessment & Tax Penalties – a question of proportionality?

8 February 2024

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You’re working for no one but me (taxman)!

22 January 2024

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Record year for Claritas Tax

10 January 2024

News

Claritas opens two new offices to start 2024

3 January 2024

News

Claritas Tax advise Management on the sale to Phenna Group

6 December 2023

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