Apprenticeship Levy assistance
If you are you’ll want to know you’re getting the best training possible for your business.
At S&B Automotive Academy we can help you to understand how to maximise your levy; whether you’re looking to recruit brand new apprentices, or up skill existing staff we can advise you on the best solution.
Employers with an annual pay bill of more than £3 million have to pay 0.5% of this towards the apprenticeship levy each month. An allowance of £15,000 is then applied by the Government to offset against this. The government will also top up levy payments by 10% in the digital apprenticeship account.
How do you spend your apprenticeship levy funds? You spend your levy funds through your digital apprenticeship account. If you need help setting up your account get in touch with us and we’ll guide you through the process.
What if your account does not have enough funds? If you recruit more apprentices than the funds in your digital account will cover you will have to co-invest. The government will fund 95% of the total training and assessment cost and you will be required to fund the other 5%
What can you use the levy funds for? Levy funds can only be used to pay for apprenticeship training and assessment for apprentices who work in England for at least 50% of the time. The levy will not cover wages and travel expenses etc.
What happens if we don't pay the levy? If you have an annual pay bill of less than £3 million and have 49 staff or under you will be able to recruit apprentices aged 16-18 and they will be 100% funded by the government. Apprentices aged 19+ would require a co-investment of 10%.
If you are an employer with an annual pay bill of less than £3 million but have 50 staff or more any age apprentice would require a 10% co-investment.
Want to find out more about recruiting an apprentice or need advice on how to maximise your levy? Please contact our Business Development Team today!