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From 6th April 2017, all public and private sector employers in the UK with a staff pay bill over £3 million per year are required to pay the mandatory Apprenticeship Levy, which is 0.5% of their pay bill. All employers have an allowance of £15,000 to offset against the apprenticeship levy costs, so no levy will be paid on the first £3 million of payroll costs. The apprenticeship levy is paid to HMRC via each company’s PAYE scheme
The Government estimate that only 2% of UK employers will come into scope for the apprenticeship levy and that it will generate £3bn by 2020, which will be ring fenced for the funding of apprenticeship delivery.
The Government has set up an Institute for Apprenticeships to set standards and ensure quality of apprenticeship delivery and a new Digital Apprenticeship Service (DAS) has been developed that will, amongst other features, facilitate the management of the funding of Levy paying employers.
We have a list of FAQs that may answer some of your questions, just go to Apprenticeship Levy FAQs or get in touch and we will try to answer any other question that you may have.
More information is also available at: Apprenticeship funding: how it will work
Apprenticeships across the South East, London, South West and West Midlands including Kent & Medway, London, Berkshire, Buckinghamshire, Hertfordshire, Bedfordshire, Essex, East & West Sussex, Northamptonshire, Oxfordshire, Cambridge, Surrey, Suffolk, Norfolk, Devon, Cornwall, Somerset, Dorset and Wiltshire.
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SEAC Recruitment Services Ltd Registered office: 10 London Mews, London, W2 1HY. Registered in England, Company Registration No. 8504722