The introduction of the Apprenticeship Levy in April 2017 has changed the way that government funds apprenticeships in England. All businesses operating within the UK with a wage bill of over £3million are required to contribute to the Apprenticeship Levy.
- If the levy applies to your business you will be required to pay 0.5% of your entire wage bill into the levy. This will be offset against a levy allowance worth £15,000 for each tax year.
- You will only be able to use your levy payment for government backed apprenticeships.
- Levy payments will expire after 18 months.
Speak to an Advisor at CI Business Solutions on 01206 712727 to make your levy payments work for you.
Non-levy paying employers will need to contribute 5% of the maximum funding band as published by the Skills Funding Agency for the delivery of training and assessment for their apprenticeship.
Levy paying employers will pay the full cost of the agreed funding band using their Digital Apprenticeship account.
Employers with less than 50 employees who are recruiting an apprentice aged 16-18 years old will not be required to pay the contribution fee.
Any associated cost to the individual will be made clear at the interview.