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Don't forget that if there is a change to the total price you will also need to alter the employer contribution if there was one in the first place.
We found this when renegotiating our EPA prices and found the cost of the admin involved wasn't worth the savings gained from the price change, so only applied the new prices for new starts.
Rachel Dennis
Change of EPA and Cost
Created
We are changing EPAO and there is a slight difference in cost to the original EPAO's price. As the Apprentice affected is undertaking the full scope of the apprenticeship, the agreed total price is the funding band maximum (£5000). They started in 2023/24.
Do we just change our TNP 1 and TNP 2 amounts in the ILR to match the new EPA price split? i.e. originally it was TNP1 £4110 and TNP2 £890 - the new split would be TNP1 £4113 and TNP2 £887.
I appreciate the change in the price is very small but I really need to understand how to deal with this scenario, for my own future reference! Thanks.