From May 2017 all apprenticeships (Frameworks and Standards) have a requirement for employers to co-invest where they have a pay / salary level of less than £3m and therefore do not pay an apprenticeship levy.
Co-invest occurs when an apprentice is over 19 years old. The employer must now pay 10% of the agreed cost of the apprenticeship programme up to the maximum banding set by the Educational and Skills Funding Agency.
For the apprenticeships delivered by VQ the co-investment levels are as follows:
Apprenticeships can only commence once the learner has a contract of employment and has started employment. VQ will arrange a date to start the apprenticeship. As part of the apprenticeship induction we will invoice for the commencement of co-investment. We cannot begin the apprenticeship without receipt of the payment.
Co-investment payments are spread across the number of months that the programme lasts. Payments are made on a monthly order and will be collected through our Paypal account.
Cancellation of payments will occur if the apprentice leaves your employment during the period of the apprenticeship.
There are no refunds for co-investment payments made when the apprentice was employed and on programme.