Are you ready for the change?
In April 2017, the government changed the way that apprenticeships are funded.
Some employers are now required to contribute to the apprenticeship levy, and there have been changes to the funding for apprenticeship training for all employers. The levy requires all employers operating in the UK, with a pay bill over £3 million each year, to invest in apprenticeships.
This change affects employers in all sectors. The levy is only paid on annual paybills in excess of £3 million, which means that less than 2% of UK employers contribute to it.
Whilst the introduction of the Apprenticeship Levy may sound complicated, there's plenty of information and resources available to help you figure out how this potentially affects your business and how to navigate the levy now it's been introduced.
The Sheffield College Guide to the Apprenticeship Levy
Download our guide to the the Apprenticeship Levy here.
Official government information, guidance and advice on the Apprenticeship Levy can be found here.
The Skills Funding Agency have created an online calculator that will work out how much your levy charge will be, which can be found here.
FE Week Calculator
This site calculates the cost of individual apprenticeships, and works out how much of your apprenticeship levy pot is used up on these. Try it here.
At The Sheffield College, our trained advisors can offer further support and guidance on how to navigate the Apprenticeship Levy, through our consultation service. We offer a bespoke service, tailored to your organisation's needs and queries.
For further information, please contact the Employer Engagement Team:
T: 0114 260 2600