The Apprenticeship Levy came into force in 2017, charging companies with a wage bill over £3m an additional 0.5%. This sum is placed into a special fund to be used exclusively on apprenticeship training of new and existing staff. So how much have you got and what can you get for your money? That's where our handy calculator comes in...
- Apprentices under the age of 25 are exempt from employer national insurance contributions.
- If your wage bill is not high enough to pay the Apprenticeship Levy you are still entitled to 90% funding. Click here to find out more.
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 in to your digital account ready for you to invest in apprenticeship training.
Your organisation’s annual UK payroll
Alternatively give us a call on 0330 057 4891