The Apprenticeship Levy Explained.
Learning Curve Group
We are a national training and education specialist. We transform lives through learning.
Don't worry - we're the experts, so you don't have to be...
The levy was launched to help reduce the skills gaps within England.
Apprenticeships in England can be funded through the apprenticeship levy or co-investment, depending on your annual wage bill.
Large organisations with an annual salary bill surpassing ￡3 million are required to contribute to the apprenticeship levy, which serves as a dedicated funding pot for apprenticeship training for both current and new employees. The levy is calculated at a rate of 0.5% of the salary bill exceeding the ￡3 million threshold. This is your Apprenticeship Levy which you can use to pay for apprenticeship training in your organisation, whether that be employing new members of staff onto apprenticeship programmes or signing up current employees.
Companies with a wage bill lower than ￡3m make a smaller contribution of 5% of the specific apprenticeship which is combined with government funding to make up the costs of the apprenticeship programme and is organised on a programme-by-programme basis.
The apprenticeship levy offers a ringfenced fund that enables your business to enhance and nurture your workforce through apprenticeships. The allocated levy funds can be utilised for covering the training and assessment expenses of new apprentices or for professional development apprenticeship programmes aimed at upskilling your existing employees.
Employers can also access government funds and grants to help cover the costs of apprenticeships and invest in their teams' future. This means that, more than ever before, apprenticeships are a route employers can use to develop valuable career pathways!
领英推荐
In Devolved Nations like Scotland, Northern Ireland, and Wales, apprenticeships are still government-funded. Learning Curve Group assists our partners in understanding and accessing funding options specific to these regions!
We’ve worked with some fantastic employers who have really embraced the apprenticeship levy and everything it has to offer. Developing a successful programme that benefits both you and your employees is key. We’ve supported over 4,500 businesses with training programmes that help them to get the most out of their workforce.
Embedding apprenticeship training into your L&D strategies as a levy-paying organisation gives you the chance to be smart with budgets and strategic with CPD, and we’re here to help you every step of the way, ensuring you get value for your payments, without the headaches.
Understand more about the Levy by getting in touch with our team who will get back to you speedily with their expert advice: Learning Curve Group | Employers - Apprenticeship Levy
We also provide a free, complimentary apprenticeship recruitment service. This allows you to concentrate on the core strengths of your business while we identify candidates who possess the necessary qualities, skills, and motivations to enhance your workforce. Find out more: Learning Curve Group | Apprentice Recruitment