Apprenticeships levy and non-levy
Apprenticeships are a way of combining training with work and have a proven record of bringing productivity benefit to employers.
Swatpro Academy has a long track record of working with apprentices for hundreds of businesses whilst maintaining a friendly and flexible approach which is essential when training apprentices.
May 2017 saw the introduction of the Apprenticeship Levy causing many large businesses to start thinking about apprenticeships for the first time.
The levy requires all employers with an annual pay bill of more than £3 million to pay 0.5% into a "levy pot". This money is then reserved purely for the training of apprentices within the business.
The "levy pot" remains invested for 24 months with the employer to train apprentices, and then this money is re-invested by HMRC and longer term this could benefit other employers to train their staff? If you are considering how best to embed an apprenticeship culture within your business so that your "levy pot" remains with your company, then speaking with a Swatpro partner can be invaluable. You can recruit apprentices or offer apprenticeships as a way of upskilling your current staff.
If you make this training investment, the government invests 10% over and above the "levy pot". Apprenticeships are suitable for people aged 16 and over, with no upper age limit and range from an intermediary level through to a master's degree.
Non-Levy employers with 50 or more staff
Don't let the cost be a barrier to offering an apprenticeship programme which is right for the business. For those employers with an annual pay bill of less than £3 million then the government funds 95% of the cost of the apprenticeship. This is a fantastic investment! The highest costing apprenticeship we offer in the Engineering is the Machining Technician at £27,000, which means the employer pays just £1350. We offer two ways to pay this; paying a one-off single payment or split over the first 3 months of the apprenticeship.
Non-Levy employers with 49 or less staff
Don't let the cost be a barrier to offering an apprenticeship programme which is right for the business. For employers who have 49 staff or less, then the government will fund 100% of each apprenticeship, if this training is for young people aged 16-18*; for people aged 19 and above the government will fund 95% of the training as mentioned above.
A Plan For Jobs
The government are offering short-term incentives to support businesses return to work and increase their workforce.
New funding for sector-based work academies
The government will triple the number of sector-based work academy placements in England in order to provide vocational training and guaranteed interviews for more people, helping them gain the skills needed for the jobs available in their local area.