Government funding for covering the costs of training apprentices are different for different size companies.
If your annual pay bill is over £3 million you must pay the Apprenticeship Levy, and you will use that to fund the training costs of your apprenticeships. If you are one of these employers, go to our guide on the Apprenticeship Levy to find out about the provided funding and how the Levy works.
If you are not a levy payer, there are two different ways to fund your apprenticeship training. This is either by registering to and utilising the apprenticeship service, or through a funding contract held by your selected training provider.
After agreeing an amount between yourself and the training provider, the government will cover 95% of the training costs, up to the allocated maximum funding for that apprenticeship. If the agreed sum with your training provider exceeds the funding band maximum, you will have to cover all of the training costs above that limit.
Any costs you have to pay for training will be taken in installments over the course of the apprenticeship by your training provider, so there is no big charge and all the hassle is done for you.