From 1 May, 2017 employers with a wage bill of more than £3 million will pay the Apprenticeship Levy.
The Apprenticeship Levy requires all employers to pay 0.5% of any wage bill over £3 million into the Government’s new apprenticeship service, to pay for apprenticeship course fees. Employers paying the Apprenticeship Levy will be able to access the funds they have paid for the cost of apprentice training through a new digital account. The Government top-up this amount by an additional 10%.
