Apprenticeship levy payers to receive 10 per cent top-up, says Treasure report
- 18th March 2016
- Education & Careers
Employers in England are to receive a 10 per cent top up on their monthly levy contributions. The plans were announced in a budget report published by the Treasury.
The top-up will mean that for employers who pay a levy of £2,000, their levy pot will be £2,200. This will be available for them to spend on apprenticeship training through their digital account.
In the budget report, the Treasury stated that the government will be introducing the new 10 per cent top-up plans from 17th April.
“The government will set out further details on the operating model in April and draft funding rates will be published in June,” the Treasury said.
Plans for the £15,000 allowance for apprenticeship levy payers were also discussed, with the Treasury confirming that the levy “will be set at a rate of 0.5 per cent of an employer’s paybill and will be paid through PAYE”, and that “each employer will receive an allowance of £15,000 to offset against their levy payment.”
The Treasury also announced plans for the extension of additional work coaches in Birmingham for the next financial year.
“These additional work coaches work with businesses to match individuals with apprenticeships, training opportunities and skilled jobs,” it said.
According to the Treasury, there are currently 100 additional work coaches in Birmingham who work with businesses to match workers with apprenticeships, training opportunities and skilled jobs, and this scheme will continue until 2017.
The fiercely competitive business domain of today requires you to constantly update yourself to stay relevant in your career. Pursuing…
The ability to adapt to adverse circumstances and new challenges is considered an ideal attribute in the corporate world, especially…