Apprenticeship benefits for the employer

A long-term investment

Apprenticeships benefit employers and individuals, and by boosting the skills of the workforce they help to improve economic productivity.

Offering an apprenticeship in internal audit is a long-term investment and gives you the opportunity to grow your own talent. Apprentices combine on-the-job training in your organisation with off-the-job learning, providing an effective way for you to develop your skills base

Apprenticeship levy perks

Feedback from heads of internal audit suggest that many don't know how to go about using the apprenticeship levy which was introduced by the government in April 2017.

All employers who have an annual pay bill of more than £3 million are required to contribute 0.5% of the bill towards the levy. Each employer receives an allowance of £15,000 to offset against their levy agreement. The money is deducted monthly by PAYE. Employers in England who pay the levy will be able to get out more than they pay in, through a 10% top-up to their online accounts.

For those employers who aren’t eligible for the levy, the government will co-fund 90% of the costs of an apprenticeship, leaving 10% for the employer to contribute.

Get in touch

Please get in touch with us if you want to find out more. We're here to help. You can reach us on email at: apprenticeships@iia.org.uk