The Apprenticeship Levy – how will it affect your business?Monday, 16 January 2017 10:26
Announced in 2015, the apprenticeship levy aims to fund three million new apprentices by 2020 and the new funding system will begin in May 2017.
Newbury College will offer levy-compliant apprenticeship training and work with employers to ensure they achieve maximum results, offering help and advice to all employers – both levy and non-levy payers.
Employers with a payroll bill of more than £3 million will pay the levy. If you are a levy payer it is important that you calculate your levy spend and ensure you take full advantage of this opportunity. Newbury College can work with you to identify your skills requirements and develop a programme to suit your business needs. In many cases those companies with existing programmes will need to expand them in order to recoup their levy. Now is the right time to begin this planning to maximise the potential for your business.
Employers not paying the levy will continue to make a contribution [typically 10%] to the cost of apprenticeship training, payable directly to the provider and the government will pay the rest (up to the maximum amount of government funding available for that apprenticeship). Newbury College can work with you to identify your skills requirements and develop a programme to best suit your business needs.
Find out more at our next Business Breakfast
More links: Visit the Gov.uk website