Apprenticeship Levy

Heard about the Apprenticeship Levy but not sure what the impact is on your business?

The Apprenticeship Levy is essentially a payroll tax the aim of which is to get employers to make a financial contribution towards the cost of Apprenticeship training. The Levy is set at a rate of 0.5% of your total payroll, however most Care service providers will not have to pay anything as in practice the Levy is only applicable if your total payroll bill is £3 million or higher.

The Government is due to release more information in the next couple of months as to how it is in fact going to work, but right now this document put together by Kaplan Financial is a great summary:

Kaplan Apprenticeships Levy Key Facts