Reform is needed to ensure that the levy does not become a white elephant, writes Simon Fennell (Shoosmiths).
The apprenticeship levy was introduced in April 2017 with the aim of improving the skills efficiency and productivity of the UK workforce by attracting millions of new apprentices into workplace learning. The government target in 2017 was to achieve an additional three million apprenticeship starts by 2020.
Key points of the levy
Employers with a pay bill higher than £3m per year must pay the levy at the rate of 0.5%.
Employers are given a levy allowance of £15 000 and therefore only the wages above £3m incur the levy charge.
The levy is directed to an online account through a portal from which employers can access the funds and pay for training.
A qualifying apprentice can be any employee who wishes to receive training to provide them with new skills and help them to...
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Reform is needed to ensure that the levy does not become a white elephant, writes Simon Fennell (Shoosmiths).
The apprenticeship levy was introduced in April 2017 with the aim of improving the skills efficiency and productivity of the UK workforce by attracting millions of new apprentices into workplace learning. The government target in 2017 was to achieve an additional three million apprenticeship starts by 2020.
Key points of the levy
Employers with a pay bill higher than £3m per year must pay the levy at the rate of 0.5%.
Employers are given a levy allowance of £15 000 and therefore only the wages above £3m incur the levy charge.
The levy is directed to an online account through a portal from which employers can access the funds and pay for training.
A qualifying apprentice can be any employee who wishes to receive training to provide them with new skills and help them to...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
