Financial Assistance for Vocational Training
Apprenticeships cover a wide range of occupations including construction trades and engineering, as well as ICT and accountancy.
The principal purpose of providing financial assistance under the VTFSS is to develop the skills of the Island's workforce in order to stimulate wider economic benefits (revenues, jobs, profits, expenditure in the local economy) and associated fiscal benefits (direct and indirect taxes) which are far in excess of the cost of the support provided.
The scheme is open to:
- Individuals working in the private or third sector who are either defined as Isle of Man workers, or who are in possession of a valid work permit, in accordance with current Control of Employment legislation.
- Businesses, companies, sole traders or other organisations operating within the private or third sectors, which both maintain a registered office and provide direct employment within the Isle of Man.
All applications are considered on their individual merits, however, in broad terms the Department considers how the proposed training activity will:
- Improve an individual's likelihood of gaining employment
- Improve an individual's skills and effectiveness within the workplace
- Benefit the employer through increased productivity
- Benefit the employer by expanding the range of products and services offered
- Benefit the employer by increasing revenue to the company
- Provide skills for new and emerging sectors
As the primary objective of the Department is to support the growth and diversification of the Isle of Man economy, support will be directed to the training which the Department considers to be of greatest impact and will favour those occupations and sectors which are likely to generate the greatest return on investment. There are certain limits on associated costs, such as travel and accommodation if required and an annual limit per individual is also in place.
All applications should be submitted in advance of the planned training activity and retrospective applications will not be considered. We aim to process application within 10 days and applicants will be notified of the Department decision in writing.
The assistance is claimed once all training is completed by submitting evidence of payment and completion or certification.
For further details and scheme guidelines please click here.