Apprenticeship Levy – What is it?
If, like most employers, you do not understand the Apprenticeships Levy continue reading…
The Apprenticeship Levy is a payment that will be collected directly from employers who have a PAYE bill over £3 million annually. Both companies in the public and the private sector are accountable to pay this levy. The payment is paid to the HMRC directly through PAYE returns.
Therefore, good news for all employers, no extra work for you!
In April 2017 the levy was introduced. The purpose, to encourage employers to invest in their workforce through apprenticeship programmes.
Employers who pay the levy can access the funds to pay for apprenticeship training programmes for their business through the digital account service.
Apprenticeship Levy – What to do?
Recent figures published by the Department for Education have shown there is approximately 11,000 levy paying employers who are not spending their allowance.
Are you one of those employers? If you are, first things first, you need to be able to access your funds!
In order to access your funds you will need to active your digital account:
- Create an account
- Add Company Details
- Add PAYE schemes details
- Add members to your account to use the service
More details here.
Apprenticeship Levy – My account is active
When the employer has activated their digital account it enables them to spend their funds on Apprenticeship training. Employers can work with one or multiple training providers. Once a training contract is in place, payment is made through the digital account to the training provider(s).
Apprenticeship Levy – The Solution
Vortex Training Solutions have a dedicated team of consultants to support employers to utilise their levy payments and provide first class apprenticeship training.
Contact us today on email@example.com or 0191 432 4401 to see how we can unlock your workforce’s potential.