How can my business benefit from Apprenticeship Levy?
As part of the Government’s plan to generate an additional 3 million new apprenticeships by 2020, full control has been moved to employers in the shape of an Apprenticeship reform.
This reform marks a significant change to both process and delivery of Apprenticeships, including implementation of the ‘Apprenticeship Levy’ and the development of new ‘Apprenticeship Standards’.
If you are an employer with a pay bill over £3 million each year you will pay the apprenticeship levy to HMRC through the PAYE process.
You will be able to get out more than you pay in
The government will contribute an extra 10% to the digital vouchers available to those employers paying the levy.
Improved purchasing power for training
You can choose:
- Your training organisation from those approved on the register
- The assessment organisation
- How to spend the funds within your organisation
Funding is now available for all ages
An additional payment of £1,000 will be paid to the employer and training provider for all apprentices aged 16-18 at the start of their training.
How can LSP help?
As Apprenticeship delivery and training specialists, we have already been working closely with employers to help them understand the transition and improve understanding of the challenges and opportunities that the Apprenticeship reform presents to their business.
Learning Skills Partnership can provide advice to enable you to make the best use of your levy funds. This includes supporting with the recruitment of new apprentices and the training and development of existing staff.
Understanding the Digital Apprenticeship Service, and how best to utilise the facilities available to employers, is key to maximising training purchasing power and making the right decisions on Apprenticeship recruitment. The primary aim of the Digital Apprenticeship Service is part of a broader end-to-end service that simplifies the employer journey and supports you to employ apprentices.