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Are you ready for the Levy?

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Are you ready for the Levy?

Are you Levy Ready?

The newly implemented apprenticeship levy comes into force in April 2017. This is basically a ‘payroll tax’ which will be raised on businesses with a wage bill of £3million or more. Those businesses with a wage bill in excess of this amount will be required to pay 0.5% of their wage bill into their own ‘levy pot’ which can then be used in order to fund apprenticeships. Any business that doesn’t meet this threshold will have to contribute 10% towards their staff training costs from the 1st May 2017. The government will fund the other 90%.

What is an Apprenticeship?

In a nutshell, an apprenticeship is a work based learning course that focuses on upskilling and developing employees through on the job training. The courses are delivered through a combination of on the job training delivered by our trainer – assessors and self-study. At the end of the course the employee will receive a diploma relating to their chosen subject.

Who is Eligible?

Anyone aged between 16 – 64 is able to undertake an apprenticeship course and there are two paths which lead on to an apprenticeship. Firstly anybody already in employment can undertake an apprenticeship alongside their current role. Secondly you can recruit somebody brand new in to your company as an apprentice and train them up. Riverside training can support employers and candidates on both pathways.

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