How To Implement Your Training Idea With Apprenticeship Levy Funding

Introduced in April 2017, the Apprenticeship Levy is a form of taxation that’s designed to help businesses offer more apprenticeship programmes. Companies with a payroll of more than £3 million (the apprenticeship threshold) are required to contribute 0.5% of their annual pay bill. Apprenticeship Levy funds are then used to support apprenticeships and training opportunities across the country.

If you think your business could benefit from creating an apprenticeship programme, and if you feel you could offer apprentices worthwhile training opportunities, the Apprenticeship Levy could help. A potential source of funding, the levy could help you, and your business, to create a challenging and inspiring apprenticeship course.

Here’s how to implement your training idea and get your apprenticeship course off the ground.

Choose An Apprenticeship Standard

Before your apprenticeship course can get underway, you’ll need to select an appropriate apprenticeship standard. These standards define the knowledge, skills and behaviours required for specific occupations, so it’s important you choose a standard that aligns with your training goals.

Find A Training Provider

Next, you’ll need to locate a registered apprenticeship training provider who can deliver courses to your chosen standard and provide education compliance support. It’s important to note that only training from approved providers can receive Apprenticeship Levy support. This is to guarantee training will meet a set standard. So, if you’re planning to use the levy to help fund your programme, you’ll need to select a registered company.

Apprenticeship Services Account

If your business pays the Apprenticeship Levy, you can access your digital apprenticeship service account to manage your funds. If your organisation doesn’t pay the levy, you can still access government funding to cover 95% of training costs.

Monitor Progress

It’s incredibly important to monitor the progress of your apprentices. Not only will this show you the impact the training is having on their development, but it will also demonstrate the value your apprentices are adding to your organisation. More often than not, businesses find that an apprenticeship programme has a positive effect on recruitment, staff retention and even productivity. So, keeping an eye on your training course is essential.

Funding Deadlines

Unused levy funds expire after 24 months. So, it’s important to make use of your allowance before it’s too late. If you’re unable to use all your funds, you can transfer up to 25% to other employers to help support their apprenticeship programmes.

To learn more about the value of apprenticeships, and find out how we can help make your training programme a reality, book a meeting with a member of our team today.

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