April 6 2017
The apprenticeship levy has come into force today (6 April 2017). The aim of the levy is to encourage employers to invest in high-quality apprenticeships.
The levy will require all employers in the United Kingdom with an annual wage bill of over £3 million to pay 0.5% of it towards funding apprenticeships. Employers with an annual pay bill below £3 million are not required to pay the apprenticeship levy.
It is proposed that money from the apprenticeship levy will be invested in training for apprentices and double the annual investment in apprenticeships in England to £2.5 billion by 2019 to 2020, compared with 2010 to 2011 levels.
Skills Minister, Robert Halfon announced: ‘There has never been a more important time for Britain to invest in the skills of our people and businesses. To make Britain stronger and fairer, we need to make sure that everyone gets the chance to climb the ladder of opportunity to gain the education and skills they need to be successful in life.’
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