What if we run out of Levy funds but still want more apprentices?

Not a problem. You will revert to Government co-investment funding, where the Government will pay 95% of the Apprenticeship training costs and you will only pay the remaining 5%. You will still get the £1,000 incentive if your apprentice is aged:

 

This may mean that you receive more money back than you spend on Apprenticeship training.

For example:

Total cost of Apprenticeship = £5,000
Employer co-investment (5%) = £250 + VAT*
Government incentive payment for a 16-18 year old = £1,000
Employer gain = £750

*VAT may be recoverable if you are a VAT registered company.