Torbay Funding

Torbay Funding

Torbay Funding Opportunity for new Apprenticeship starts – for employers in the TQ1 –TQ5 postcodes area

There is currently a DfE Levy Transfer opportunity which is available to Torbay employers for new apprenticeship starts.

Hmmm…great…. but what does that mean???

Apprenticeship Levy payers (employers with a payroll over £3 Million), unable to utilise all of their Levy for their own Apprenticeship training, are allowed to transfer their unused Levy to other businesses in order to encourage them to take on apprentices of their own.

It is not that easy for these Levy payers to identify other employers willing and able to accept these transfers. Torbay has therefore introduced an initiative to assist this “matching” process.

The DfE has confirmed that funding is available through a DfE Levy transfer, for employers of any size to fund new apprenticeships starts in Torbay, supporting the ‘Opportunities through Apprenticeships’ Pilot.

A summary of the opportunity for employers (meeting the criteria):

  • 100% of the training will be funded for new apprenticeship starts
    (instead of paying 5% if you are an SME)
  • Applications are encouraged from the following:
    • Businesses already engaged and employing apprentices
    • Employers wanting to upskill existing employees with new apprenticeships
    • Employers not engaged and who can quickly confirm what they need

Employers must meet the criteria as set out in the Framework including:

  • New apprenticeship starts only (includes upskilling existing employees).
  • Priority for Level 2 to Level 5 apprenticeships.
  • Priority to STEM subject, plus Torbay’s priority sectors tourism, construction and manufacturing.
  • Disadvantaged groups and voluntary, community and social enterprise sector employers are desirable.
  • SME’s who already benefit from 100% Government funding cannot apply. E.g Small SMEs with less than 50 employees with 16-18-year-old apprentices or 19-24-year-olds with a care package.
  • Levy paying employers are welcome to apply and would only receive transfer funds on the basis that their Levy is fully spent. Levy transfer funds can only be spent on their workforce and not transferred to another employer.

Even if you are not in a priority group, it is worth applying as funds may be available if not fully utilised by the priority groups. If an employer’s Levy is not used within 2 years of paying it into the Levy, it is clawed back by the government.

To Apply:

  • Interested employers/training providers can apply for the Levy transfer at any time (and until funding is allocated).
  • The application form must be completed for all applications and is only for Torbay businesses and/or those directly employing Torbay apprentices. E.g.TQ1-TQ5 postcodes.
  • Applications must ensure they have read the DfE Framework to ensure they meet the criteria.
  • Completed applications should be sent to [email protected]
  • All applications are subject to approval.

If you are interested in taking advantage of this scheme to help you recruit / train an Accounting Apprentice and would like a copy of the supporting “DfE Transfers Framework” document and the DfE Levy Transfer Application form, please email us on [email protected] and we will forward it to you. Part of the application form relates to the training provider and the Apprenticeship Standard being offered and we will be happy to help you complete this section .

 

Written by Simon Deane