Apprenticeship levy on payroll.What is the apprenticeship levy?
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Apprenticeship Levy - Moneysoft
In such cases there is nothing that the employer needs to do with regards to either paying or reporting the levy for that month. If the calculated Apprenticeship levy exceeds the allowance for the year-to-date then the employer must pay the levy and report these amounts via an Employer Payment Summary EPS in the relevant month s.
Payroll Manager will schedule the EPS automatically. The examples below show how Payroll Manager will handle the Apprenticeship Levy. The first example is for a typical small business, which will not be liable to pay or report the levy. The second example is for a much larger employer, which will be liable to pay and report the levy. The amount of levy you can access is directly linked to the proportion of your employees living in England. Non-levy paying employers can use the levy through a transfer of funds from a levy paying employer.
The account is used to manage levy funding, track apprentices, find training providers, or transfer unused funds. Any levy funds expire after 24 months, so it is vital to utilise your levy as soon as possible. Once a programme and training provider has been selected and a price agreed, your provider will be paid out of your digital account every month.
Apprenticeship levy rules state that your levy must only be used to pay for apprenticeship training and End-point Assessment , and cannot be used to pay apprentice wages.
Find the latest information on government incentives here. If a levy paying company runs out of funding in their account, the co-investment option is available for them too. Non-levy payers are able to reserve a maximum of 10 apprenticeship starts a year. Have more questions? Get in touch with our expert team to find out how we can optimise your apprenticeship levy.
There are a few apprenticeship funding rules to keep in mind when using the government apprenticeship levy to make sure your funds are used correctly. What can employers spend apprenticeship levy funding on? What happens to unused apprenticeship levy funds? Your funds will expire 24 months after the date submitted, at which point unused funds will default back to the government. This is to incentivise regular expenditure on high-quality apprenticeship training. When paying for apprenticeship training, the government will always use the oldest funds in your account first to minimise the window for fund expiry.
A levy transfer is where one levy paying employer agrees to transfer a proportion of their levy funds to another employer for them to use in full to train an apprentice.
Sending Employers can find Receiving Employers who would benefit from receiving a transfer. For example, this could be:. They can make transfers to as many Receiving Employers as they choose. The Aldi apprenticeship programme delivered in partnership with Lifetime has added great value to Aldi as an employer.
I first-hand have seen the significantly positive impact it has had to our business and stores. Please let us know if you agree to the cookie s.
What is the apprenticeship levy? The apprenticeship levy can be incredibly beneficial to businesses, boosting essential training and developing apprenticeship programmes as well as increasing employee engagement.
Apprenticeship levy explained The apprenticeship levy was introduced as a government scheme to fund apprenticeships. After 24 months any unused levy funds expire and return to the government. Find out how to calculate the apprenticeship levy here. When was the apprenticeship levy start date?
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