Understanding Apprenticeship Levy Transfers
The Apprenticeship Levy is a UK government initiative designed to fund apprenticeship training in England. Did you know? If your company’s annual pay bill exceeds £3 million, you contribute 0.5% of this to the levy.
Whilst many businesses use this levy, some aren’t utilising all their available levy funds. The good news is that they can be transferred, and you can pledge your levy! This allows businesses to share unused funds with other businesses.
Levy transfers are open to businesses of all sizes. This presents a fantastic opportunity for smaller businesses that may not have the resources to invest heavily in apprenticeship training. This leads to you having the ability to develop a skilled, motivated, and future-ready workforce.
With transferred Levy funds they can access high-quality training programs and develop their workforce without a significant financial burden.
More Information about Levy Transfers
The Cheshire & Warrington Local Skills Improvement Plan (LSIP) can help to guide you through the process to help maximise the benefits for your business. Assess your eligibility for Levy Transfers, identify potential partners and ensure a smooth process through the necessary paperwork.
Contact the team to explore Levy Transfer options and unlock the potential of apprenticeship training for your business.
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