The apprenticeship levy requires all employers operating in the UK, with a pay bill over £3 million each year, to make an investment in apprenticeships through a digital account (apprenticeship service). As an Employer, you can benefit from this investment by training apprentices for your business or to transfer funds to other employers, through the apprenticeship service.
Transfers can be made to any employer, including smaller employers in your supply chain, and apprenticeship training agencies. You will initially be able to transfer up to 10% of the annual value of funds entering your apprenticeship service account.
If you use all of the funds in your account, the government will contribute 90% and you will contribute 10% of any amount that exceeds your funds.
The links below provide information on how the apprenticeship levy works although we have a team of Advisors that can discuss this with you in further details. Our team can advise you on how to utilize your levy in either upskilling existing workforce or training new apprentices into the business.