The Apprenticeship Levy is a government initiative that was announced in the 2015 Summer Budget and will come into effect in April 2017. Funding plans have now been confirmed. The levy is part of the government’s plan to help fund three million new apprenticeships by 2020. So what does it mean for you?
The impact of the levy on your business will depend on the size of your wage bill: if your payroll is more than £3 million then you will have to contribute 0.5% of this figure. Each employer will receive an allowance of £15,000 per year to offset against the levy. So for example an employer who has a payroll of £5 million would have a levy bill of £25,000 – but after the allowance is applied, they would only pay £10,000.
Estimate your contribution and funding with the Skills Funding Agency calculator.
What Leicester College will do to help you
To support businesses in preparing for the significant changes, Leicester College has introduced a dedicated levy support service for employers, with a focus on enabling you to maximise the return on investment from the levy.
The Leicester College Levy Co-ordination Solution Service offers:
- No-cost consultation and support to identify the impact of the levy on the individual business
- Effective support to your internal teams to enable them to effectively manage and plan the process
- Support in the programme set up, as well as delivery and management of the whole process
- Delivery of high-quality apprenticeship training that meets individual business requirements
- An organisation-wide training needs analysis to identify and map existing and potential new job roles across all levels to relevant apprenticeships
- Workforce planning support identifying measurable business benefits to be delivered
- Dedicated, free recruitment service support for new apprentice recruitment
- Co-ordination of apprenticeship training
- Management and delivery of the functional skills requirement linked to the apprenticeship
- Links to the Apprenticeship Training Agency
Dedicated support to deliver measurable ROI
- Development and implementation of a talent management programme across all levels with the business
- Support succession planning and emerging skills gaps within the workforce
- Apprenticeship funding being effectively utilised to develop and upskill existing staff
- Development and implementation of bespoke Management Development Programmes
- Improving employees English and Maths, and supporting improvements in performance
- Overall improvements in cost, quality and delivery
Contact the Apprenticeship Team
For more information and support linked to the apprenticeship levy, get in touch with us on 0116 224 2240, or email us: email@example.com