The Apprenticeship Levy - How An Apprentice Could Improve Your Business
20 March 2017
From 6th April 2017, all UK employers with annual salary bills of more than £3 million will pay an apprenticeship levy.
It’s aimed at funding apprenticeships across the UK. The rate will be 0.5% of the employer’s pay bill. Only employers with a salary bill over £3 million will pay.
The UK Government estimates that 2% of employers will be eligible. Over 2017-18, Scotland will receive £221 million of levy funding through the block grant.
The Scottish government says it remains committed to expanding the Modern Apprenticeship programme as growth continues towards 30,000 new starts each year by 2020, increasing the number of Graduate Level and Foundation Apprenticeships during 2017-18 and continuing with the implementation of the Youth Employment Strategy: 'Developing the Young Workforce'.
In Autumn 2017, the Scottish Government will also establish a new £10 million Workforce Development Fund to help employers upskill and reskill their workforce.
Take a look at our infographic to see how an apprentice could benefit your business.
Written By Mary Palmer