THE APPRENTICESHIP LEVY
The Apprenticeship Levy requires all employers in the UK with a pay bill over £3 million each year to make an investment in apprenticeships, at a rate of 0.5% of their annual pay bill. Employers receive an allowance of £15,000 each year to offset against the levy.
Funds can only be used towards apprenticeship training and assessment with an approved training provider and assessment organisation. Funds cannot be used for other apprentice-related costs such as wages, statutory licences to practise, travel and subsidiary costs, managerial costs, traineeships, work placement programmes or the costs of setting up an apprenticeship programme.
Non-levy paying employers will share the cost of training and assessing their apprentices with government through ‘co-investment’.
The Chamber of Commerce can provide details of the most suitable learning provider and offer advice on the process. In addition, there are a range of learning providers available to support an organisation when taking on an apprentice and developing an apprenticeship scheme.
Find out more about getting involved here.