Those with an annual wage bill under £3m do not pay the Apprenticeship Levy. Instead, for employers with 50 or more employees 95% of each apprenticeship is funded by the government whilst a 5% investment is required by the employer to enhance the skills of their employee, employers may also be eligible for a £1000 incentive payment if the apprentice is aged 16 – 18. For employers with less than 50 employees and where the apprentice is aged 16 – 18, the government will fund 100% of the apprentice and may be eligible for a £1000 incentive payment. For those aged 19+ the government will continue to fund 95% of the apprenticeship programme whilst a 5% investment is required by the employer.
The Apprenticeship Levy was launched to encourage employers to use apprenticeship programmes, either for new staff or to upskill an existing employee, to help reduce the skills gap within England’s workforce. The levy applies to all businesses with wage bills of more than £3m.
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