Are you throwing away money that you could use for training?
The apprenticeship levy was introduced in April 2017. It requires businesses with an annual wage bill of £3 million or more to pay 0.5% of it into a fund to be spent on apprenticeship training. What you may not know is that unspent funds expire after 24 months, so if you have not used your levy funds from April 2017 they will not be available after April 2019. You will have paid this money as an additional business tax rather than investing it in re-training or upskilling your workforce.
Historically apprenticeships have been about bringing in young people and developing their skills, but now an apprenticeship is an ideal opportunity to incentivise and motivate current employees, by offering them the opportunity to study for Higher, Degree and Master’s Level programmes, paid for through your levy funds.
At Newbury College we support you with using your levy funds effectively to meet your skills needs. We offer flexible learning models that support you to effectively provide off the job training at times that support your business needs.