RECRUITING AN APPRENTICE
Apprenticeship Levy
Learn about the Apprenticeship Levy
Depending on the size of your business and the age of the apprentice you hire, there may be funding available to help you cover the cost of running an apprenticeship programme. This is in the form of an Apprenticeship Levy.
The Apprenticeship Levy was introduced in 2017 in order to create national funding for apprenticeships, and provide businesses of all sizes with the opportunity to implement their own apprenticeship programmes.
At PETA, we have a highly experienced team on hand to help you manage your apprenticeship funding. From developing your recruitment strategy to managing your levy pot, we are dedicated to ensuring you maximise your investment in apprenticeships.
Apprenticeship Levy Funding Options
Small Businesses: Under 50 employees
- The employer will have 100% of their training costs covered by the Government if the apprentice is aged 16-18
- If the apprentice is 19+, the Government will contribute 95% of the training costs and the employer will be required to co-invest 5% of the cost of training
- You will also receive a £1,000 incentive for hiring apprentices aged between 16-18
- The government have introduced the Apprenticeship Service Account (ASA) for all SME’s employers that will take effect from January 2020
SMEs: More than 50 employees
- The Government will contribute 95% of the training costs, regardless of the apprentice's age
- You will also receive a £1,000 incentive for hiring apprentices aged between 16-18
Large and Enterprise Employers: Payroll exceeding £3 million
- The employer pays 0.5% of total payroll into the Levy pot
- Levy funds are then available for the employer to spend on apprenticeships through a new Apprenticeship Service Account (ASA)
- Employers have an allowance of £15,000 to offset against the Apprenticeship Levy
- A 5% Government top-up will also be applied
- Funds in your Apprenticeship Service Account will expire after 24 months
- Levy payers with insufficient funds must co-invest 5%
Optimise your apprenticeship funding
Apprenticeship Levy Managed Service
Maximise the return from your Levy investment with a tailored service that will drive your business forward.
From managing Levy funds to sourcing quality candidates, PETA will manage your apprenticeship strategy from start to finish and help you offset the Levy against your current L&D budget.
Request a call back from our Levy team to learn about the full benefits and services on offer.
Request more information on the Levy
Wondering how to make the most of your Apprenticeship Levy?
Request a call back from our Levy Team who can help you maximise your investment in apprenticeships.