Did you know that many organisations are not fully utilising their Apprenticeship Levy budget. Don't forget, if you don't use it you lose it!
Education & Skills can work with you to develop a full employee development plan to use your Levy funds.
Do you have a salary bill of more than £3 million?
You will contribute 0.5% of your annual salary bill into the apprenticeship levy. The 0.5% will be paid through a payroll tax. Funding can be used to train up existing staff (including graduates), or to recruit apprentices of any age. Funding can be used to up-skill employees (including graduates), or to recruit apprentices of any age. You can access your funds through an online digital account. These funds will expire after 24 months. For every £1 that enters your digital account you will get £1.10 to spend through a 10% top-up from the government.
Education & Skills can work with you to maximise the effectiveness of your levy pot. We’ll put together a organisational wide training plan based on your levy contributions and developmental requirements.
Do you have a salary bill of less than £3 million?
The government will fund 100% of the training for apprentices aged 16-18 or 19-24 with an EHC Plan. For anyone above this age, the government will contribute 95% of your training costs, you will contribute the final 5%. Funding can be used to train up existing staff (including graduates), or to recruit apprentices of any age. You may be eligible for a cash payment towards the training, depending on the Apprentices age and additional needs.
As an employer you can receive a payment towards the additional cost associated with training if, at the start of the apprenticeship, the apprentice is: