Apprenticeship Levy
Now you’re paying the apprenticeship levy, you’ll want to be sure you’re getting the best training possible for your organisation.
At RM Training, we work with employers closely to design and deliver training programmes that are perfectly suited to their needs. Adjusting qualifications to fit into existing training practices. Whether you’re looking to take on brand new apprentices, or develop your in-house training, get in touch to find out how.
How does the levy work?
As an employer with an annual pay bill of more than £3 million, you pay 0.5% of this towards the apprenticeship levy automatically each month. You have an allowance of £15,000 throughout the year, which accumulates in amounts of £1,250 each month, reducing the amount you need to pay towards the levy.
< Less than 50 employees
< Salary bill less than £3m
> More than 50 employees
< Salary bill less than £3m
Wage bill over £3 million
You will pay the levy
FREE
You are eligible to receive fully funded training.
5%
Contribute just 5% of your total training costs and the government will cover the rest.
0.5%
The levy is charged at 0.5% of your annual wage bill (minus your £15,000 allowance)
Incentive
You could be eligible for a £1000 incentive payment from taking on an apprentice
Incentive
You could be eligible for a £1000 incentive payment from taking on an apprentice
10%
Your levy pot will be topped up by 10% each month
How do you use the apprenticeship levy?
You’ll use your levy funds through your government apprenticeship service account. This is where you’ll receive your allowance and make payments for training. Companies will have 24 months to make use of their apprenticeship funds. To get started, get in touch with us and we’ll guide you through your next steps.
If you are in a group of companies paying the levy together, your group can collect funds in a single account.
What if you don’t need to pay the levy?
If your annual pay bill is less than £3 million and you’d like to benefit from apprenticeships in your organisation, you’ll fund this through co-investment. This is where you’ll contribute 5% to the costs of training and assessing your apprentices, and the government will fund the rest.
For smaller companies with less than 50 employees, the government will pay all the costs for new apprentices aged 16 to 18 and those aged 19 to 24 who are leaving care or have a Local Authority and Healthcare plan.