WHAT IT IS
In May 2017, the UK Government introduced apprenticeship reforms designed to boost the productivity of the UK’s economy and increase the skill level of our workforce. In order to fund the apprenticeship scheme, an Apprenticeship Levy was introduced in which companies with an annual wage bill in the UK over £3million are required to pay 0.5% of their annual wage bill into a digital account called the Apprenticeship Service (AS). If you choose not to use your levy funds to invest in your business, the balance will be re-distributed to other companies to fund their training and development activities.
Are you unsure if you’re a levy paying company? Download our levy overview guide here.