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Posted By Apprenticeships Directory on 13/03/2019 in Apprenticeship Sector News Stories

The 10-per-cent fee that small businesses must pay when they take on apprentices will be halved to 5%from April 1

The 10-per-cent fee that small businesses must pay when they take on apprentices will be halved to 5%from April 1

The chancellor told MPs that a £700 million package to help small and medium-sized enterprises invest in apprenticeships will be rolled out from next month.

The 10% fee that small businesses must pay when they take on apprentices will be halved from April 1

From April 1st employers will see the co-investment rate they pay cut by a half from 10 per cent to 5 per cent, at the same time as levy-paying employers are able to share more levy funds across their supply chains, with the maximum amount rising from 10 per cent to 25 per cent.

The government predicts that cutting the co-investment in half will cost the Treasury an extra £70 million a year by 2022.


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