How to make the best of the levy
Here are our top five tips:
- Work out how much you will have to spend on apprenticeship training (the governments free ‘Estimate my funding’ tool is a quick way of finding this out)
- Identify current training budgets that could be covered by your levy payments
- Consider additional upcoming training requirements
- Think about areas of the business in which you might want to recruit new apprentices
- Increase your understanding of what apprenticeships are on offer and how they work
Choose from a range of apprenticeships
Gloucestershire College are the largest provider of apprenticeships in the area, offering training from entry level to management in the following areas:
- Team Leading / Management
- Catering and Hospitality
- Early Years
- Health and Social Care
- Motor Vehicle
Since joining the company I have encouraged the Board of Directors that the apprenticeship scheme is a good way for the company to give back to the community and invest in young people and the potential future of the company
How much will my organisation pay?
If your annual UK wage bill is more than £3 million, you pay at a rate of 0.5% of your UK wage bill, minus the government’s allowance of £15,000. Levy payments will be made on a monthly basis through Pay As You Earn (PAYE).
What can we spend our levy payments on?
Apprenticeship training and assessments. It cannot be used for wages, travel expenses, traineeships or any other costs associated with setting up an apprenticeship programme.
Who can do an apprenticeship?
The minimum age is 16. There is no upper age limit. Both existing employees and new recruits can do an apprenticeship e,g. you may have somebody looking to do their accountancy qualifications that can get the same training via and apprenticeship. Part-time members of staff can an apprenticeship, so long as they are working more than 16 hours per week.
How much does an apprenticeship cost?
For levy payers, the cost of an apprentices training ranges from £1,500 to £27,000, depending on the subject area and the length of the course. The government provides £1,000 cash incentive for recruiting 16-18 year old apprentices. And in terms of recruitment, we offer a free recruitment service meaning there is no additional costs for this.
What happens if we don’t spend our apprenticeship levy money?
Any un-spent money in your digital account will be removed after 24 months. This will be used to fund apprenticeship training for smaller non-levy paying organisations.
What happens we want to spend more on apprenticeships than we have in our account?
Once all of your digital vouchers have been spent, you can still take on extra apprentices. The government will fund 90%.of the cost of the apprentice, you will have to contribute just 10%.
Why is the apprenticeship levy being introduced?
As part of the government’s plans to improve the UK’s productivity, a target has been set for 3 million apprenticeships to start in England by 2020. The apprenticeship levy is being introduced to help fund this goal.
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