Apprenticeships and Traineeships
The UK Government’s Apprenticeship Levy came into effect in April 2017, putting the onus on employers to create the optimal apprenticeship scheme for their business. It applies to all employers whose payroll is over £3million annually.
For every pound the levy contributes to an employers’ the digital wallet the Government will top up the amount by 10%.
Employers have an allowance of £15k, but if are a group of companies that are connected, they can only be able to use one £15k levy allowance. The levy rate is 0.5% of their payroll.
If a company's payroll is under £3million, then they won't be required to pay the levy.
More information about the Levy can be found here.
The new funding system for apprenticeships will came into effect May 2017.
Important information about the rules that will apply to all apprenticeships provision can be found here.