The Apprenticeship Levy came into force in 2017, charging companies with a wage bill over £3m an additional 0.5%. This sum forms a special fund to be used by businesses for apprenticeship training of new and existing staff.
How is your levy and total amount to invest calculated?
If your annual UK wage bill is £3m or over, you will pay 0.5% of your annual wage bill minus a Levy Allowance of £15,000.
The government will then top up this amount by 10% and place this into your digital account ready for you to invest in apprenticeship training.
If your wage bill is not high enough to pay the Apprenticeship Levy you are still entitled to 95% funding. Find out more.