As you may know, the apprenticeship levy comes into force in April 2017 meaning any employer with an annual payroll of more than £3m will see their wage bill increase by 0.5%.
This new tax will be charged monthly alongside PAYE in your normal payment to HMRC, and the funds collected can only be spent on delivering apprenticeship-based training.
To gain benefit from the levy and to offset the cost increase to your business, the funds generated must be invested in the training and assessment of new apprenticeships. Although the implications of this Government initiative are quite clear cut, how to utilise and maximise the levy to the full advantage for your organisation may not be quite so obvious.
Bis Henderson Academy can help you assess the best direction for apprenticeships in your business, make sure you don’t lose out and help you optimise the value and benefits your business generates from the levy.
The organisations we work with have found apprenticeships are a great way of increasing confidence, morale, productivity and business performance. Our specialist and experienced team can advise you on how to implement an apprenticeship programme that creates real value for your business and ensures you put the levy to good, profitable use.
Industry chatter suggests some employers may have reservations about the value of implementing apprenticeships and that the levy limits the way credits can be spent. Our Academy Consultants can talk you through all of the implications and help you prepare for April 2017.
To be sure you capitalise from this change, we’re recommending the assessment and planning stages start now, we’re already seeing organisations that have to adapt their approach to learning and development and planning how they can utilise the credits to the best possible effect. A half day consultation can help ensure the significant values that will be generated through the levy are put to efficient use in your business.
If you would like to know more about the levy, what it means for you, and how you can realise the most value from it please call David Lynch on 01494 620175.