Your funding reservationsEmployerThis article sits within the Employer section
Smaller employers that do not pay the apprenticeship levy can reserve apprenticeship funding for training and assessment in their apprenticeship service account.
How it works
The funding will cover 95% of the cost of the apprenticeship (up to the funding band maximum), smaller employers will need to pay the remaining 5% directly to the training provider. The 95% funding is paid directly by the government to the training provider. This is also called ‘co-investment’.
There are some exemptions for co-investment in the apprenticeship funding rules.
What you can reserve
From 3 April 2023 all non-levy employer reservation levels will be reset to 0 and small employers who do not pay the levy will no longer be limited to a maximum of 10 new apprenticeship starts – they will be able to recruit as many high-quality apprentices as their business needs.
The number of reservations for flexi-job apprenticeship agencies remains at 35.
Any reservations made before 3rd April 2023 can be converted to starts within the reservations period. These will not count towards the number of reservations made in the financial year 2023-24.
To reserve funding, you will need to enter the apprenticeship start date and standard. We will fund up to the funding band maximum, but you must negotiate the cost of the training and assessment with the training provider.
If you agree a training cost that is above the funding band maximum, your organisation will have to fund the additional cost.
You can change the apprenticeship start date and standard when you add the apprentice’s details, without losing the reservation.
Please note that this video has not yet been updated to include the changes to the reservation limit or the previous month now being available for employers to select.