Our Apprenticeship Levy infographic details the main points you need to know about the Apprenticeship Levy and how it will affect your business.
Who pays for it?
From April 2017, organisations with an annual payroll bill of over £3 million will have to pay 0.5% of their payroll into the levy pot. These costs can be recouped on apprentice training costs and these organisations will receive a 10% top up from the government. Businesses need to ensure they use this money within 24 months as if not it will become available for other companies to spend.
98% of businesses will not need to pay into the levy pot but will benefit from having 90% of their apprenticeships costs covered by the government.
For more on the Apprenticeship Levy take a look at our blog on the Skills Gap.