APPRENTICESHIP LEVY SCOPING
The Apprenticeship Levy was introduced by the government in 2017 to encourage employers to support more apprenticeship opportunities. If you are an organisation who has a wage bill of £3 million or over, you are now required by law to contribute 0.5% of your wage bill to the apprenticeship levy. You can reclaim this money by supporting new apprentices into your organisation or upskilling current members of your team with apprenticeship qualifications. The Apprenticeship Levy has a two-year life cycle, if you don’t use it, you will start to lose it!
WHAT IS AN APPRENTICESHIP?
The reality is this… There is still over £1 billion in unspent levy and apprenticeship numbers have fallen by a third as employers are not utilising the levy due to lack of expertise and knowledge surrounding the new Levy and funding systems.
PSR Solutions can support you in identifying the best way to spend your levy and reclaim as much of your apprenticeship levy contributions as possible.
If you are an SME and do not pay into the Levy, don’t worry, we can still advise and support you!