What Is The Apprenticeship Levy?
The levy applies to all businesses in U.K and is set at a rate of 0.5% of the employer’s payroll. Businesses are entitled to a £15000 allowance for apprenticeship training in order to offset the payment. This effectively means that the levy will only be payable on a payroll in excess of £3 million per year.
Smaller companies can still take advantage of available Government funding, which is likely to include an employer contribution.
What Does This Mean For My Business?
Many companies affected by the levy currently either have a small provision for apprenticeships or in many cases don’t provide apprenticeships at all at present. Therefore, many businesses will only be able to reap the benefit of the outlay by implementing a new or expanding their existing, apprenticeship programme.
At Sixth Sense Training we have a fantastic record of taking young inexperienced candidates and, along with great employers, nurturing and training them into valuable assets to the businesses we work with. Who better to partner with and help you minimise the risks and maximise both the opportunities and the value of your businesses contributions that come along with the levy?
What Can Sixth Sense Training To Do Help?
- Upskill existing employees through the SVQ’s that we provide through the levy.
- We can offer a free recruitment service to businesses to hire and train employees working towards a Modern Apprenticeship.
- Help you define and create your company’s own personalised apprenticeship programme.
- Advise on any additional funding that may be available.
Find Further Information At Skills Development Scotland’s Website Here.