Did You Know?
- The Apprenticeship Levy starts as a hypothecated tax on 6 April 2017
- Apprenticeship frameworks are changing to Standards
- End-Point Assessments are to be introduced
- Private providers scored 84% in a recent SFA employer satisfaction survey, whilst colleges’ ratings scored a full 10% lower
- You can become your own training provider enabling you to directly design and deliver the content of the off the job training which your own apprentices will receive, giving you the ability to make sure it includes everything you think it should for the benefit of your business
Did you know?
- If your payroll is over £3 million you will be subject to paying the Levy (0.5% of payroll) through PAYE
- Levy funds will be available through a new digital service
- First funds appear in your account on 1 May 2017
- You can register for this account from January 2017
- Employers have an allowance of £15,000 to offset against levy
- A 10% Government Top Up will be applied
- Funds in your Digital Account will expire after 24 months
- Levy payers with insufficient funds must co-invest 10%
did you know?
SME and Micro Employers
- Non-levy employers will be required to co-invest
- You will have to contribute 10% to the cost of training, the Government will contribute 90%
- You will receive £1,000 incentive for Apprentices aged 16-18
- Employers with less than 50 employees will have 100% of their training costs covered if the Apprentice is aged 16-18