If you are a levy payer, the below provides the essential financial information you need to know.
- The levy is 0.5% of your payroll
- Employers will not pay the first £15,000 of the levy
- Employers receive a 10% top up on their digital account. For example, every £1 will be increased to £1.10
- The levy will be collected on a monthly basis based on live HMRC payroll data
- You can only use your levy funds on apprenticeship training for new or existing staff (full-time employees aged 16+)
- The apprenticeship levy fund must be spent within 24 months or you will lose the funds
- You can only spend your funds with providers who are on the Government approved register (PM Training are an approved