LEVY
FUNDING
Levy funding for apprenticeships is collected from employers with an annual pay roll bill over £3 million they then pay 0.5% additionally into a “Levy Pot.” This fund can then be used by that businesses to pay for apprenticeship training for themselves or other organisations.
NON-LEVY
FUNDING
If you are a small to medium-sized enterprise (SME) and do not pay the apprenticeship levy, you only contribute 5% of the total training and assessment costs for your apprentice. The government will cover the remaining 95% of the costs.
LEVY
TRANSFER
This is where a levy paying employer funds a non-levy paying employee. A levy-paying employer, (one with a payroll over £3 million) can transfer unused apprenticeship levy funds to a non-levy-paying employer. This allows the receiving employer to fund an apprenticeship at no cost to themselves, the apprentice, or the government. The transferring employer provides the funding, while the non-levy-paying employer is the recipient.
Get in touch
We’re keen to hear from you. You can call OTM Apprenticeships directly on 0121 270 6669 or contact us using the details or contact form below.
Get in touch
We’re keen to hear from you. You can call OTMA directly on 0121 270 6669 or contact us using the details or contact form below.
