MANY SMALL BUSINESSES NOT READY FOR THE NEW APPRENTICESHIP LEVY
February 24th, 2017.



Smaller businesses could be unprepared for the new apprenticeship levy, which is expected to come into force on the 6th of April, according to a survey from XpertHR.


The levy will require employers with a pay-bill of more than £3 million a year (around 2 per cent of businesses in the UK) to pay 0.5 per cent of this to fund apprenticeship costs. The government is introducing the levy in a bid to increase the number of apprenticeships in England to three million by 2020.

All businesses that pay the levy will have access to their contribution to pay for apprenticeships in their business. In addition, they will receive a 10 per cent top up from the government. Employers that do not pay the levy will still be able to access government funding to help towards the costs of apprenticeships.

The latest research from XpertHR’s Young Workers Survey 2017 finds that, for many employers, the levy is unlikely to result in major change to the number of young workers recruited to apprenticeship roles, especially amongst smaller employers.


For the full story at smallbusines.co.uk CLICK HERE.