The apprenticeship levy
25 May 2018
The Government has committed to boost productivity by increasing the quantity and quality of apprenticeships.
It aims to create three million apprenticeships by 2020 and introduce new apprenticeship standards. To help to fund this initiative, an apprenticeship levy will apply from 6 April 2017. Employers with a wage bill of more than £3 million will pay an annual levy of 0.5%. Details of how the levy will be collected are set out in draft legislation and the Government is finalising the details of how employers will be able to use and access the fund from May 2017.
This inbrief provides an overview of how the apprenticeship levy will work and what it means in practice for employers.