How to get value from the Apprenticeship Levy

BLOG17th Oct 2018

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Do you know that the funds you build up through your Apprenticeship Levy Payments expire after 24 months?

The amount of funding entering your account each month is calculated by:

The Levy you declare to HMRC through the PAYE process multiplied by the proportion of your pay bill paid to your workforce who live in England + a 10% government top-up on this amount

You can use these funds to pay for apprenticeship training and assessment for apprentices that work at least 50% of the time in England.

However, some levy-paying employers may not be aware that they lose any funds that are not used for apprenticeship training when it expires 24 months after it appears in their apprenticeship service account.

It you can’t use your funds consider transferring it. From April 2018 Levy paying Employers are able to transfer up to 10% of their unused funds to either another Levy payer who may have insufficient funds, or a non-Levy payer to cover their apprenticeship training costs.

Use it, transfer it or lose it!

For more information on the apprenticeship levy, please contact Karen McLeod or your usual AAB contact.