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What exactly is the Apprenticeship Levy?
The Apprenticeship Levy, which came into effect on 6 April, is a tax on all UK employers that will support the funding of apprenticeships. Both private and public companies that pay more than £3 million in wages are now liable to pay 0.5 per cent of their paybill into a fund. Employers can then use this fund – to which the government adds an extra 10 per cent (in England) – to spend on apprenticeship training.
Will all apprenticeships cost the same?
No – there are 15 different bands of funding available ranging from £1,500 to £27,000. Engineering and technology-focused apprenticeships tend to be more expensive, and in the higher bands.
Additional funding will be available to support apprentices to meet minimum requirements in maths and English.
