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Employers can now apply for £1,000 Cash Incentive to take on trainees and apprenticeships. A traineeship is when an employer offers a range of courses to participants, including a work placement, to provide better job prospects to young people. Apprenticeships are not a new concept but because there has been a gradual decline in people starting them since 2018. 30,000 new traineeships in England have been pledged by the Chancellor involving classroom-based tuition in maths, English and CV writing. This is coupled with ‘high-quality’ 70 hours minimum of unpaid work experience which employers are not required to pay trainees for.
This initiative began in September 2020 with traineeships lasting between six weeks and six months, aimed at helping those leaving education to secure their first job.
Scheme’s availability
The scheme is available util 31 July 2021. The scheme will help support businesses that helps young people in gaining the skills and experience they need to get a job, an apprenticeship or pursue further study. This will cover employers costs for providing facilities, uniforms and travel costs.
How much you can claim
The employers can claim the £1000 bonus for each trainee up to a maximum of 10 trainees. They can also claim the cash incentive for all the work placements that have been completed since 1 September 2020. The cash incentive is payable only upon completion of each traineeship.
This scheme is in addition to apprentice scheme announced last year under which you can claim £2,000 for each apprentice aged 16 to 24 and £1,500 aged 25 or over. This includes taking on apprentices who has been made redundant.
How to apply
You can apply for an incentive payment after you add new apprentices on your apprenticeship service account.
For more information, please contact us on 01702 345 207 or email us at info@arb.accountants