In last year’s autumn budget, the UK government has made several announcements that will have a significant impact for employers and will introduce new considerations when making hiring decisions.
Some of the announcements include the increase of minimum wage and increase in various taxes including National Insurance.
Despite the increases, one factor that remains unchanged is national insurance contributions for apprentices. In the budget announcement, the government has reiterated that employers do not need to pay national insurance for apprentices under the age of 25.
This factor will allow employers to cut costs while still being able to recruit the needed staff for their businesses and help bring in young people into the workforce, supporting their training and allowing them to gain valuable experience.
Hiring an apprentice is a great way to enhance your team and the national insurance savings are an added benefit, but did you know that you can make use of this benefit for your existing staff?
You can choose to put an existing member of staff on an apprenticeship programme to upskill them and support their training. This will help you to ensure that your team is fully qualified and skilled for their roles enhancing their work and development.
Moreover, if that team member is aged 25 or under you would be able to benefit from the National Insurance savings.
LMP Education offers a range of training programmes that are suitable for a variety of businesses. Programmes include: Level 3 Business Operations Administrator, Level 3 HR Support, and our Future Leaders pathway that focuses on resolving the skills gap in middle management training with a Level 3 Team Leader programme and Level 5 Operations Manager.
If you would like to discuss upskilling your team through an apprenticeship programme, contact the LMP sales team to discuss how we can support you.
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