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From the 1st May 2017, the way the Government funds Apprenticeships in England has changed. The Apprenticeship Levy requires all employers operating in the UK, with a wage bill over £3 million per year, to make an investment in Apprenticeships. But what does this mean?
How will this affect you?
If your wage bill is above £3m, you will pay 0.5% through PAYE. and you will be given an allowance
What if your wage bill is less than £3 million?
Non – Levy Paying Employers - You only pay 5% of the training costs. The Government pays the remaining 95%
Businesses with less than 50 employees do not have to pay anything if they employ an apprentice aged 18 or under. They will also receive an additional £1,000 to support them with the recruitment and training of the apprentice in their role.
As an Employer you may be also entitled to a gap grant!!!
It makes business sense to train your staff to improve their skills and efficiency in the workplace. Please contact us for further information
Contact Ashlea & Sandy to discuss your options further on:
TEL: 01709 820208