#LevyLove

All employers are subject to the apprenticeship levy if their annual pay bill is
£3 million
or over

Payable at
0.5%
of payroll paid monthly

The levy comes into force from

April 2017

If employers do not ‘spend’ their levy it will be lost

The levy will be applied to all businesses across the UK

10% top-up for each apprentice

All employers receive an allowance of £15,000

Pay bill will be calculated based on total employee earnings.

Example:

250 employees, each with a gross salary of £20,000

Paybill:
£20,000 x 250 = £5,000,000

Levy sum:
£5,000,000 x 0.5% = £25,000

Allowance:
£25,000 – £15,000 = £10,000

To spend on Apprenticeships

Non-Levy Small Businesses will not have to make any cash contributions

Employers with over 50 employees will have to make a contribution of only 10% of the cost of training

Each Apprenticeship standard will have a maximum funding amount.

When employers take on a 16-18 apprentice, they will receive a £1000 to ‘meet the extra costs associated to this’. This will be paid in two instalments to employers via their chosen training provider.

Extra support of £2k will be available to employers and training providers that take on a 16-18 apprentice or young care leavers with an education, health and care (EHC) plan. The employer and provider will receive £1k each.

Levy employers will be able to use funds to retrain workers in new skills, even if they have prior qualifications.

The proposed funding systems will consist of 15 bands, each will an upper limit ranging from £1500 to £27000.

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UMBRELLA TRAINING

T: 0333 577 2557
E: info@umbrellatraining.co.uk

Unit 12, The Joinery Workshop
The Historic Dockyard
Chatham
Kent ME4 4TZ

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UMBRELLA TRAINING

T: 0333 577 2557
E: info@umbrellatraining.co.uk

Unit 12, The Joinery Workshop
The Historic Dockyard
Chatham
Kent ME4 4TZ

Privacy
Terms & Conditions

Company Number - 08284521      Registered Address: 32 Alamein Avenue, Chatham, Kent, ME5 0HZ

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