The apprenticeship levy is a training fund that is made up of tax accrued through 0.5% of a company’s pay bill.
Only employers with a pay bill of over £3m pay the levy and in turn, utilise the funds to enhance their workforce.
Money raised by the apprenticeship levy is ring-fenced, meaning that it can only be spent towards apprenticeship training.
Employers paying the levy will receive their funds through their Digital Apprenticeship Service account, which expires 24 months after the first installment.
As the first installment began in April 2017, levy payers only have until April 2019 to use their funds before it runs out. In response to the limited timeline, Walsall College are offering free support to employers to enable them to claim their funds back through investing in new and existing staff.
The College’s Business Training Solutions team can help employers access their funds through their digital apprenticeship account (DAS), by taking a ‘co-management’ approach to enable employers to use and manage their funds within the DAS.
On 31st January Walsall College are also holding a free ‘Use It or Lose It’ breakfast event, where employers will learn how to make the most of their funds before the April 2019 cut off point.
The event will provide a full update on the key facts about the levy, and will give employers a chance to ask questions from an expert panel, as well as hear from employers who have maximised the use of their levy pot.
Please click here to find out more about and register for Walsall College’s free Apprenticeship Levy ‘Use It or Lose It’ Breakfast Event. To get in touch with the College’s Business Training Solutions team call 01922 651129 or email firstname.lastname@example.org