Our Head of Key Accounts, Leanne Shackleton, answers all your levy questions and explains why you should join our £500k in 100 days campaign.
“The Apprenticeship Levy is a 0.5 per cent tax on UK employers with an annual pay bill over £3 million each year. This is paid monthly into a central fund and used by that employer to fund new apprenticeships in order to support business productivity and grow quality vocational training and employment.”
“From 1st April 2019, in response to the limited amount of funding available for smaller companies and to enable larger organisations to make good use of their unspent Levy funds, the Government made it possible for levy paying employers to ‘gift’ or transfer up to 25 per cent of their apprenticeship levy to fund new apprenticeships in other organisations. “
“By gifting surplus levy, large employers can sponsor an apprenticeship in a sector or industry area that aligns to their corporate social responsibility (CSR) agenda, while at the same time supporting employment and skills development in SMEs who benefit from fully funded apprenticeship training.
For example, gifting £100k of unused levy to a nursery can mean more trained teaching assistants, leading to better care and education for our children, and ultimately benefitting our society as a whole.”
“"Levy gifting offers a huge social impact. When it comes to Corporate Social Responsibility (CSR) agendas, it’s important that employers direct their funds in a way that offers both positive impact to society and to the economy, helping a sector in need to attain skills or learn new ones.
Not only does it solve recruitment needs in a socially responsible way but it also helps businesses to grow their own talent, cultivating the technical and behavioural development of young people to suit the demands of that business, and in turn their sector.
“Levy gifted funds can be accessed by small and medium enterprises, such as independent businesses, who are looking to access free training to upskill existing staff or even recruit an apprentice that will allow them to grow their business.”
“Our £500k in 100 days campaign aims to see £500k of levy funds gifted in just 100 days, allowing small and medium enterprises to upskill their staff through apprenticeships.
"Each pound of levy funding gifted via the £500k in 100 days campaign not only boosts small business growth, thereby strengthening the UK economy, but also improves the life chances of the people working within that organisation.”