From 6th April 2017, employers with a wage bill of more than £3m will have to pay a 0.5 per cent levy to fund apprenticeships. This will affect employers in all sectors.
The aim is to raise £3bn a year to meet a target of three million new apprenticeships by 2020. With a clear focus on developing the UK’s skills and improving long-term productivity, the Government is committed to increasing the quantity and quality of Apprenticeships whilst also putting control of funding firmly in the hands of employers.
The benefits of the Levy