of payroll paid monthly
The levy will be applied to all businesses across the UK
10% top-up for each apprentice
Pay bill will be calculated based on total employee earnings.
250 employees, each with a gross salary of £20,000
£20,000 x 250 = £5,000,000
£5,000,000 x 0.5% = £25,000
£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
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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