What it means for Employers
Announced in 2015, the Apprenticeship levy aims to fund 3 million Apprenticeships in the UK by 2020. It will affect all organisations in all sectors. The levy will only be paid on annual paybills in excess of £3 million, and so less than 2% of UK employers will pay it.
It will cost you as an employer, 0.5% of your PAYE bill although smaller companies can claim £15,000 training allowance to offset this cost.
The levy will take effect in April 2017 and will include the use of an electronic voucher system to enable you to purchase Apprenticeship training from a recognised provider (STEGTA).
STEGTA was set up in 1966 to support employers to enable them to cope with the previous levy system and is confident we can help you with this recent development.