How are my Incentive Payments Paid?
Businesses may be eligible for a £1000 incentive payment, if an apprentice in their employ meets the following criteria:
- Are they aged 16 to 18 years old?
- Are they aged 19 to 24 with an education, health and care plan or have been in the care of their local authority?
If the answer is yes to either of the above questions, then the employer will be eligible for the payment.
The payment is made in two equal instalments for each apprentice. The first payment of £500 is due after an apprentice completes 90 days of their apprenticeship and the second is due after 365 days. Once confirmation is received by Skills Edge that the apprentice meets the criteria, the employer will be contacted to provide their business bank details. Payments are usually made on or after the 22nd of the month following the 90/365-day anniversary.
Should the apprentice leave before either the 90 or 365 day mark, the business will no longer be eligible for the payment.
If you have any further questions on incentive payments, please contact accounts@skillsedge.co.uk.