Are you ready for the Levy?
The new Apprenticeship Levy comes into effect in April 2017 with companies seeing their first payment being taken in May 2016.
The Apprenticeship Levy will affect all organisations with an annual payroll of over £3million, regardless of whether they currently employ Apprentices or not and will be payable by employers in the UK at the rate of 0.5% of the payroll cost through PAYE alongside Income Tax and National Insurance.
The government anticipates that the Levy will raise more than £2.5bn for apprenticeships in England and the money raised through the levy funds will fund the entire programme, including subsidised
training for non-levied employers. Employers will have a 10% top up added to their levy account.
So, whether you are eligible to pay the Levy or not, you will be financially supported by the government with regards to Apprenticeship training.
Many businesses WATA work with already enjoy the benefits of employing an Apprentice.
An Apprentice will bring new lifeblood into the organisation to fill any skills’ gaps to support
organisational growth. An Apprentice follows a formal training programme leading to a
nationally/internationally recognised qualification whilst learning practical, on-the-job training supported by work-colleagues who pass on their knowledge and expertise too.