The apprenticeship levy is a new government initiative announced in the 2015 Summer Budget. The government proposes to apply the levy to large employers across all industries.
The government is introducing a new apprenticeship levy to help fund three million new apprenticeships by 2020. A target that the government set as part of its manifesto.
The levy will be applied to all industries in the UK, replacing all apprenticeship funding currently provided by the government for companies of all sizes.
The levy will come into effect in April 2017 at a rate of 0.5 per cent of an employer’s wage bill, and will be paid through Pay As You Earn (PAYE).
Some of the key facts about the government’s new apprenticeship levy, and how it affects industry is available via the attached link.