If you have a pay bill of over £3m, you are required to pay the Apprenticeship Levy (0.5% of pay bill) to HMRC. Employers can invest this levy in the training and assessment of apprentices by government-approved providers (like us).
If the amount you have paid is not enough to cover the cost of the chosen apprenticeship, the government will co-fund 90% of the difference, up to the maximum funding level for that apprenticeship. You will need to co-fund the remaining 10%. If the cost of your apprenticeship programme exceeds the funding band maximum, you will have to pay the additional costs.
You can use this money to pay for the training and assessment of apprentices but not to pay their wages.
You will need to register for the apprenticeship service so you can manage your apprenticeship funds. You will be able to pay for training and assessment from your account. The government will apply a 10% top-up to the funds you have to spend in your account.