The Apprenticeship Levy comes into force in April 2017. It’s being introduced as part of the Government’s commitment to create three million apprenticeships by 2020, and is expected to raise £3bn annually across the country. Adrian Healey, Business Development Director at The Skills Company sets out some top tips on how to get the most out of the Levy:
- First, find out if the Levy affects your business.
Any business with a pay bill of more than £3m a year will have to pay the levy. That includes public sector, not-for-profit organisations and charities. 98% of employers are below the threshold and will pay nothing at all.
- If you’re in scope, work out how much your contribution will be.
You can establish how much you will have to contribute by using our simple Levy calculator here.
- Don’t wait until the Levy is introduced next April to start planning for it.
You really need to be planning now to get the most from your investment. At The Skills Company, we’re already working with many employers to plan their Levy activity.
- Don’t just consider new recruits when thinking about the Levy.
You can also use Levy funding to upskill your existing workforce and help them to gain nationally recognised qualifications. We can help you identify progression routes to get your existing employees onto apprenticeships.
- Don’t think short-term.
Use the Levy to help with your succession planning and long-term workforce development.
- Use it or lose it!
If your company is in scope of the Levy, you will have to pay it whether or not you are involved in apprenticeships, so it makes total business sense to get the best value for your investment.
- Call in the experts!
We have experienced business advisors waiting to help you navigate through the levy environment and ensuring you maximise opportunities for greater benefit. Please contact us if you would like to discuss options with our business advisors and make the most of your investment.
Call us on 0161 359 3405 or email firstname.lastname@example.org