New Employer Incentive Rules Revealed
The ESFA have published the rules of the new employer incentive scheme for employers who hire new apprentices. This was part of the announcements from the Chancellor last week on boosting the economy.
From August 2020 until the 31st January 2021, businesses taking on new apprentices will be rewarded with £2,000 for a 16 to 24 year-old and £1,500 for anyone aged 25 or over. The staff members must be new staff, and 'must not have been employed by the employer within the six months prior to the contract start date'.
The employer will receive payment as long as the apprentice is still employed by them at day 90 and day 365. Unlike the existing employer incentive for hiring apprentices, this one requires the employer to claim directly from the apprenticeship service online.