New funding rules came into play on April 2017, which put simply, require employers to either pay into a levy pot or pay a contribution towards training and assessments. See where you fit in below:
If you are an employer with a payroll of £3 million per year or less, you will not pay into the apprenticeship levy. Instead, you will pay 10% towards the cost the apprenticeship, with the government paying the rest.
If your PAYE is over £3 million you are a levy payer. It’s mandatory and your levy will be collected by PAYE via HMRC in a monthly basis and will be placed into an apprenticeship service account. You can only use your Levy by spending it on training for apprenticeships.
From level 2 qualifications (equivalent to 5 GCSE passes) to level 5 qualifications (equivalent to foundation degrees) there’s plenty of options for your whole workforce.
Apprenticeships are a great way to train existing staff that you already employ. Age and past qualifications are no longer a barrier, as long as you can show your employee is learning a new skill that will positively impact your organisation.
Apprenticeship are a great way to recruit people into your organisation. The whole process is supported by the team at Wandsworth Lifelong Learning, or you can use your own recruitment channels. Apprentices are paid a lower rate based one certain criteria – employers can of course top these up.
Wandsworth Lifelong Learning take care of any questions you have on apprenticeship funding. If you’re considering taking on an apprentice or using apprenticeships to train existing staff, there are plenty of options available to build a package of work-based training to suit your budget and working environment.
Worth making the change.
Find out more about how we can support your organisation by contacting us today.