What can employers use the levy fund for?
The apprenticeship levy is to help employers fund the apprentices training and assessment.
The apprenticeship levy can be used for:
- Apprenticeship training – this includes the end-point assessments for the apprenticeship standard programmes run with their organisation.
The apprenticeship levy cannot be used for:
- Wages
- Statutory licenses to practice
- Travel and subsidiary costs
- Managerial costs
- Traineeships
- Work placement programmes
- The costs of setting up an apprenticeship programme
The funding can only be accessed when working with an approved training provider and/or assessment organisation.
Many levy paying employers are now looking for ways to utilise their fund before it expires and is returned to the Government. As a result of this, they are supporting other sectors and their communities by transferring a portion of the unspent levy to provide free apprenticeship training.
At RM Training, we work with employers to make sure they achieve their goals and utilise their funding as best they can. For more information on the apprenticeship levy, click here.
Futureproofing
Apprenticeships are now becoming more common in all industries, and now that employers have a better understanding of the benefits of training apprentices in line with their company standards, they are also gaining a reliable way to futureproof against skills gaps years into the future.