Are you ready for the change?
As of Monday 6th April 2017, the government are changing the way that apprenticeships are funded.
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 levy requires all employers operating in the UK, with a pay bill over £3 million each year, to invest in apprenticeships.
This will affect employers in all sectors. The levy will only be paid on annual paybills in excess of £3 million, and so less than 2% of UK employers will pay it.
It might sound scary, but there's plenty of information and resources available to help you figure out how this will affect your business and how to prepare for the levy.
The Sheffield College Guide to the Apprenticeship Levy
Download our guide to the levy here.
Official government information, guidance and advice on the apprenticeship levy can be found here.
The Skills Funding Agency have created an online calculator that will work out how much your levy charge will be, which can be found here.
FE Week Calculator
Calculates the cost of individual apprenticeships, and works out how much of your apprenticeship levy pot is used up on these, try it here.