Apprenticeship funding changes will come into effect in April 2017

Apprenticeship funding changes planningThe government has set a target of recruiting 3 million Apprentices by the year 2020. The introduction of the Apprenticeship Levy, due to start in April 2017, will support this initiative. However not all employers will be affected in the same way.

Are you in the know?
Research by the British Chambers of Commerce (BCC) in association with Middlesex University says that over a third of businesses have not heard of the Apprenticeship funding changes coming into effect in April 2017.

How do I find out about the funding changes?
At ATG Training we have been delivering Apprenticeship training since 1967 in an ever changing Government policy landscape. As a result of this experience, we are perfectly placed to help you navigate this new environment. We can provide you with comprehensive, impartial advice and guidance on how best to optimise the benefits and opportunities this new funding regime will bring.
 

Example of what you will pay

Example 1: an employer who would pay the levy
An employer with an annual pay bill of £5,000,000:

  • levy sum: 0.5% x £5,000,000 = £25,000
    subtracting levy allowance: £25,000 – £15,000 = £10,000 annual levy payment

Example 2: an employer who would not have to pay the levyImportant planning meeting

Level Three Engineering Apprenticeship

Cost of training over 42 months £9,000

  • Your share – 10% £21.42 each month
  • Government share – 90% £192.86 each month

Level Two Business Administration Apprenticeship

Cost of training over 12 months £2,000

  • Your share – 10% £13.00 each month
  • Government share – 90% £120.00 each month
  • Final month – Your share £53.00
  • Final month – Government share £484.00

Use the indicative online tool for employers to estimate your contribution, begin to plan your training requirements, and estimate your financial spending.

What next?

If you have any questions or need further information please call us on 01296 737800 01296 737800 or email info@atg-training.co.uk

 

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