More employers to benefit from apprenticeship levy fund transfers.
28 June 2018
In a bid to help boost the number of apprenticeships, Apprenticeships and Skills Minister Anne Milton has announced that from July 2018, large employers will be able to transfer up to 10% of their apprenticeship levy funds to multiple businesses, as opposed to current rules which only allows for a transfer to one other employer.
This announcement aims to help employers to work together in partnership to create more apprenticeship opportunities and supporting employers to take on apprentices who may not have done so otherwise.
Nationally, only approximately 2% of employers pay the levy but that investment has funded more than 40% of the apprenticeships started in the last year.
Apprenticeships and Skills Minister Anne Milton said:
It’s fantastic to see so many businesses taking advantage of the opportunity that the apprentice levy provides. As well as kick starting their apprenticeship programmes, business is now recognising the benefits an apprentice brings to the work place with enthusiasm and new ideas.
We want to keep improving apprenticeships for everyone and I am delighted that we are now extending the flexibility of the apprenticeship levy.”
Coming soon: funding projection tool
Keep your eye on the Apprenticeship Service as they’re soon to launch a new feature that will project an employer’s funds over the next four years, helping them to plan their apprenticeship programme costs.
To keep up to date with news and information about the apprenticeship service follow @ESFAdigital on Twitter.Back