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Apprenticeship Breakfast Information Event
Wed 25 January 2017, 08:00 – 09:30 GMT
This event is open to anyone that wants to know more information about the levy and how it could affect their business.
What is the levy?
The Apprenticeship Levy is being introduced by the government in April 2017 to create and fund 3 million Apprenticeships by 2020.
Will it affect my business?
- If your payroll is over £3 million a year, yes it will. You don’t have a choice.
- If your payroll is less than £3 million you won’t need to pay the levy*.
*Your business may need to contribute to the cost of Apprenticeship training. Find out more at our employer event.
- If you employ less than 50 employees the apprenticeship training for 16-18 year olds will be fully funded via the government.
How much levy will I pay?
You will pay 0.5% of your PAYE bill, with an offset training allowance of £15,000.
If you don’t use the money in your digital account within 2 years, your money will become available for other companies to spend. It is a case of, use it or lose it.
You will draw down vouchers to pay for your apprenticeship training.
How do I get my money back?
- Turn any new vacancies into Apprenticeships
- Up-skill your existing staff
Our expert team can work with you to ensure your business gets the best return from
the new levy. We will help you design a training plan and deliver the training for you.
How many apprenticeships will my levy payment fund?
The new Apprenticeship funding system will be made up of 15 funding bands, with the
cost of the bands ranging from £1,500 to £27,000. The number of apprenticeships you
will be able to fund will depend on the type of apprenticeship you need.
Can the levy be used for other forms of training?
No, but Apprenticeships are continually changing and are suitable for numerous job
roles up to degree level, so there are many solutions to explore.
What do I need to do now?
You need to start planning now. We can help you get the best return on your levy.
There is still information yet to be issued by the government about the Apprenticeship
levy and funding. We will ensure you are up-to-date with any new information as it is