Apprenticeship Levy Update
The new Apprenticeship Levy starts in May 2017 and will affect most businesses. If you have a payroll of over £3 million a year you will have to pay 0.5% of your payroll costs (you’ll get back £15,000 levy allowance) so you need to be planning now to make the most of this and invest in your business. You’ll need to take charge of this, find training providers, negotiate fees and manage those training providers.
The Apprenticeship Levy and how it will affect your company if your payroll is less than £3million a year.
- You will be required to pay 10% of the cost. The government will pay the other 90%.
- You will need to chose a training provider from the registered list, negotiate the cost of training and adhere to the government set funding caps for different qualifications in the same way as larger firms who do have to pay the Apprenticeship Levy.
- The new funding system for apprenticeships will be made up of 15 bands, with the upper limit of those bands ranging from £1500 to £27000. This will be regardless of the age of the learner or their geographical location.
- The government will fund 100% of the costs of apprenticeship training for a 16 to 18 year old who works for a business with fewer than 50 employees.
- You will get a bonus of £1000 for employing a 16 to 18 year old person.
Why choose TQ?
- We are rated as a Good provider by Ofsted.
- Our learners improve their skills and confidence.
- We tailor the programmes to the needs of your business and make the best use of government funding.
- We support all apprentices well.
- We get results.
We are used to managing large scale training programmes, working with different providers and making sure the employer gets exactly what they need. If all of this sounds like something you’d rather outsource then contact the team on 01788 892050 or e mail us at email@example.com and one of us will be happy to help.
We are happy to talk to you to discuss how these changes will impact your business and work with you to plan for your current and future training needs. For a free consultation please contact the Business Development Team on 01788 892058 or email firstname.lastname@example.org
Levy Update – Key Points
For more detailed information on how the Apprenticeship Levy will affect you download our latest employer factsheet.