● Employers have an allowance of £15,000 to offset their Levy.
● Employers affected by the Levy pay 0.5% of their wage bill per month into their pot.
● Any organisation paying in to the Levy will need to utilise apprenticeships for existing employees or new recruits to make use of it.
● The Levy is paid monthly via PAYE and the government will provide a 10% top up on a monthly basis.
● The Levy can only be used to fund Apprenticeship Training and Assessment with an approved training and assessment provider.
● Funds expire 24 months after they enter the Levy digital account so if you don’t use it you’ll lose it.
● Be careful not to get caught out if you are a ‘connected’ company e.g. part of a group as you only get ONE allowance. This means that even if your pay bill is under £3 million you may find yourself in scope.