Need Apprenticeship Levy Information?
The Apprenticeship Levy was introduced in April 2017 at a rate of 0.5% of total PAYE to all businesses with an annual payroll bill of over £3m. Employers can claim this back to fund apprenticeship training, or lose the funds.
At MiddletonMurray we've created a bespoke levy department to assist employers to:
- a) ascertain how these funding changes will impact their business;
- b) explain the implications of the new programme;
- c) advise how best to maximise the opportunities for their company's talent development and training programmes.
The levy will be payable monthly from April 2017 onwards through Pay As You Earn (PAYE) and will be payable alongside Income Tax and National Insurance. Individual employers’ funding will then be made available to them via a new digital account, through which employers will be able to pay for training for apprentices via a recognised training provider, such as MiddletonMurray. Employers will also receive a 10% top-up to their monthly levy contributions from the government, and the funds generated will be available for them to spend on apprenticeship training through their digital account.
One of the really important aspects of the levy is that from the moment the money is deposited into the employer's fund, it's then only there for 24 months so with the levy having already started on 6th April 2017, it is imperative that businesses formulate their Apprenticeship Levy plan as soon as possible and this is where MiddletonMurray can help.