So you’re paying the Apprenticeship Levy. Now what?
Posted: 19 June 2017 at 12:17 pm | Author: Laura Morris
If you’re a business with a payroll bill of over £3 million then by now you should be aware that the apprenticeship levy is in full swing, but are you prepared for what happens next?
The purpose of the levy is to encourage employers to take on more apprentices and invest in the continued training of their existing team. Once you’ve established how much money you are required to put into your levy fund then it’s time to work out how exactly you plan to make the most of it.
What are your business goals?
Consider identifying what it is that your business is looking to achieve. Then review what it is that your employees can do to help you get there. Do you have the necessary skills already or are there performance gaps that you need to address?
It is worthwhile keeping in mind your staffing capacity and if you will look to upskill your current staff or perhaps recruit new apprentices to grow your team.
What apprenticeships are relevant?
Once you have an idea of what sort of skills you want to grow within your team then you need to investigate what apprenticeships can meet these needs. You will need to choose which apprenticeship framework or standards will fit your needs and select a suitable organisation that offers it. You can search here to find a list of options to choose from.
Different apprenticeships will use up different amounts of money from your levy fund depending upon the associated government funding and there may also be additional payments on top of this. Your training provider will be able to advise you on this.
How can I find a provider?
When looking for a training provider don’t forget to make sure that they are included on the Register of Apprenticeship Training Providers (RoATP) which can be downloaded here and be sure to find out all the key things that you need to know. This include factors such as what payment options are available, will your staff members need to attend a college and how you will be supported throughout the process.
What can I do now?
If you are required to pay the levy then don’t just treat it as another tax, please speak to a relevant training provider who can talk you through all the changes and discuss how you can best use your funds.
If you are unsure about any aspects of apprenticeship training please call on 01480 422060 or emailed firstname.lastname@example.org to explore how we can support you in more detail.
- Study AAT online: Begin your career in finance with our flexible, online accounting & bookkeeping courses!
- Huge reduction in cost for the new Level 2 Accounts/Finance Assistant Apprenticeship Standard – Available Now!