Apprenticeship levy - what do you need to know?

Apprenticeship levy - what do you need to know?

In a bid to increase the take-up of the apprenticeship levy, a major change has been made to the way in which levy-paying businesses can spend their budgets.

In the first quarter after the levy was introduced in April last year, the number of people signing up for the vocational training suffered a 60pc year-on-year collapse to 69,800.

Employers are now allowed to transfer up to 10% of their apprenticeship funding to other organisations, a move which provides greater choice and simplicity in the system.

Businesses which pay the levy can transfer a maximum of 10% of the annual funds in their apprenticeship service account to any other employer, initially one other business, and later to more than one.

The transferred funds can be used to pay for the costs of training and assessment for apprenticeships.

Want to find out more? Look on the Government's website here.

Sheffield City Region

Tagged Categories

Recent posts