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In April 2017 the way the Government funds apprenticeships in England is changing. Some employers will be required to contribute to a new apprenticeship levy, and there will be changes to the funding for apprenticeship training for all employers.
The apprenticeship levy requires all employers operating in the UK, with a pay bill over £3 million each year, to make an investment in apprenticeships in the form of a levy based upon 0.5 % of the wage bill after a £15,000 initial allowance.
The levy will effectively change the way in which apprenticeships are funded and for employers in scope will present opportunities to increase the investment in training and in some cases recover more than the levy contribution. It is however only with careful planning now that companies will be ready to take full advantage of the change in funding arrangements and maximise the return on the levy through investment in training and apprenticeships.
Click here to find out what your company’s responsibilities are and how WATA can help you through the process.