Singapore What is the Apprenticeship Levy?
All employers in the UK with an annual paybill of more than £3 million must pay 0.5% of their total paybill into the Apprenticeship Levy. This fund of money can then only be used to pay for Apprenticeships.
Apprenticeship Levy
The Levy was created to benefit you. Make the most of your business’s money and invest in growing skills to push your workforce forward.
- £3 million
only businesses with a payroll of over £3 million pay into the levy
- 0.5%
of annual payroll is paid into the levy
- 5%
is how much non-levy payers contribute to the cost of an apprenticeship
How you can benefit from the levy
Save costs
Apprenticeships are a cost-effective way to provide industry qualifications for your staff
Plug skill gaps
It's an opportunity to develop a workforce that meets the needs of your business
Invest in staff
Apprenticeships are excellent for filling entry-level positions but can also up-skill your existing staff
Increase productivity
Each apprentice in England is estimated to deliver an avg. positive net gain of £1670 p/a to their employers (source)
The apprenticeship levy has been a fantastic opportunity for us to grow our own digital talent and future proof ourselves against the well reported, nationwide, digital skills shortage. Our apprentices aren’t just college leavers we are also able to facilitate career changes through apprenticeship schemes helping us to diversify our talent pool and create an always learning culture.
What if I don't pay into the levy?
If you're a business that has an annual payroll of below £3 million, you're not required to pay the levy. But don't worry - you'll still get financial support for our programmes:
- You're only required to pay 5% of the total cost of the apprenticeship, the government covers the rest (e.g a £12,000 programme only costs £600 spread across three instalments)
- Businesses with 49 employees or less have the entire cost covered by government
- If you hire a 16-18-year-old (or up to 19 with an EHC plan) you receive a £1000 incentive
- Apprentices make the most impact in smaller businesses and typically grow quicker!
Start making the most of your levy
Arch Apprenticeships deliver our apprenticeships and are rated Outstanding by Ofsted.
We can help you recruit and upskill entry-level talent into your organisation with future-focused apprenticeships across our specialisms of data, marketing, HR and finance. And with most available at levels 4 and 5, they are perfect for upskilling your existing people too.
Talk to us today