Employers and professionals are calling for a replacement to the current Apprenticeship Levy for a broader Training Levy (believed to be more accessible to employees).
The Apprenticeship Levy has fallen short on increasing the number of people benefiting from apprenticeships with funds raised from the Apprenticeship Levy often used for management training, or simply not used at all.
The Apprenticeship Levy is paid by employers with a pay bill of over £3 million, their payment towards this being 0.5% of their total annual pay bill.
These funds can be used to pay for apprenticeship training, and any unspent funds going towards
supporting existing apprentices in completing the training, and payment for smaller employers towards their apprenticeships.
Reforming the existing Levy would allow employers to develop existing staff through other forms of accredited and cost-effective training with more of a focus on tackling technical skill shortages in the economy.
With employees increasingly looking to their employer to provide opportunities to develop and grow internally, a new levy could be a win-win situation for all.
If you’re looking to recruit, manage, or upskill and existing employees using the Apprenticeship Levy let us help you with an addendum to current contract and terms.
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