The Department for Education has announced new changes for the scheduled Apprenticeship Levy and companies are being invited to voice their opinions on how they will affect their business.
New Apprenticeship Levy proposals will allow an increased 15 funding bands for apprenticeship funding per apprentice, from £1,500 to £27,000, with regular intervals in between. Government will also fully fund 16 – 18 year-old apprentices for employers with less than 50 employees and introduce incentives to reduce recruitment costs, which could potentially be up to £2000 shared between the employer and the provider.
The new levy will affect all businesses with a monthly payroll of over £250k per month (£3 million over a year).
Businesses are being encouraged to have their say on whether the changes will affect their plans for hiring, training and development activities. To complete the survey, visit the gov website before the 5 September deadline.
For further information and advice around the apprenticeship levy, changes to apprenticeships and the new Digital Apprenticeship Service, visit the Worcestershire Apprenticeships website.
For more information about the funding proposals, view the funding consultation document here.