ESFA has publishedVersion 3 of the apprenticeship funding rules for 2023 to 2024. These updated rules reflect the recent apprenticeship announcements made by the Prime Minister:
- the removal of co-investment, for new starts from 1 April 2024, for non-levy paying employers taking on apprentices aged 16 to 21
- raising to 50%, from April, the proportion of their levy funds that employers can transfer to other businesses
In respect to the changes to co-investment, please note that the associated changes to their payment systems will take several weeks to introduce. This means that providers will continue to receive monthly payments representing 95% of the agreed price for training and assessment until June, when backdated payments for April and May for the 5% balance of funding will be made.