In spring 2017 the way the government funds apprenticeships in England is changing. Some employers will be required to contribute to a new apprenticeship levy, and there will be changes to the funding for apprenticeship training for all employers.
When is the levy coming in?
The levy will be introduced 6th April 2017.
Who will have to pay the levy?
The levy will apply to both public and private employers across all sectors with a payroll bill in excess of £3m a year.
How much will the levy cost?
The apprenticeship Levy will be introduced to large employers who have an annual payroll in excess of £3m, at a rate of 0.5% of their PAYE wage bill.
What happens to businesses who do not need to pay the levy?
The government will continue to provide capped funding for Apprenticeship training.
How can employers spend it?
Once you have declared the levy to HMRC, you will be able to access funding for apprenticeships through a new digital apprenticeship service account.
How much funding will Apprenticeships receive?
All approved Apprenticeship standards will be allocated a funding cap which will indicate how much levy funding can be used for each Apprenticeship.
Can I use the levy to fund apprenticeship training for my existing workforce?
Yes you can, Reaseheath Training offer all businesses and organisations a free training needs analysis to discover what areas of your business would benefit through upskilling your existing workforce through the apprenticeship program.
What happens if employers don’t spend your levy funds?
Funds will expire 24 months after they enter your digital account unless you spend them on apprenticeship training with a training provider. Whenever a payment is taken from your digital account, the service automatically uses the funds that entered your account first.
How can Reaseheath Training support you?
Reaseheath Training will assist in maximising the effectiveness of training through funding available in offering you the following services:
- Training needs analysis
- Dedicated account manager assigned to you from your first enquiry
- Free recruitment service for new apprentices
- Up-skilling existing workforce using apprenticeship frameworks & new standards
- Invitation to employer seminars and events held through-out the year
- Calculation of your LEVY contribution
- Offering quality training in outstanding facilities with success rates above 80%
- Take advantage of other discounted products and services when linked to Reaseheath College