Apprenticeship Announcements: Levy transfer and under 21 co-investment changes

18 March, 2024

On Monday 18th March at SME Business Connect the Prime Minister has announced that the Government is investing a further £60m to boost apprenticeships.

New measures announced today include,

  • From 1st April, SME employers who do not pay the levy no longer have to contribute to the cost of apprenticeship training for 16–21-year-olds – government is fully funding the training costs for these individuals.
  • From 6th April, levy-paying employers can transfer up to 50% of their funds to support apprenticeships in other businesses – double the current 25%

Access the Press Release for further information.

Currently, for non-levy employers, such as most Primary Care providers, both the employer and the government pay the training provider for apprenticeship training – 5% from the employer and 95% from the Government.

These changes are intended to help support SMEs to hire more apprentices.