Why Telcos must act now to prepare for the Apprenticeship Levy
A Knowledge Network Article by Institute Of Telecommunications Professionals
Wednesday 07 September 16
The government recently announced the long-awaited Apprenticeship Levy will go ahead from early next year. It will have implications on all businesses, regardless of size, and leaves less than a year to prepare.
Background to the levy
The Apprenticeship Levy is the government’s scheme to fund its target of creating three million apprenticeship placements by 2020. From 6th April 2017, all businesses with a wage bill of more than £3m will be required to pay the levy, charged at a rate of 0.5% of their annual bill.
How it will work
Businesses with a payroll of over £3m:
- All companies in this category will have to pay the levy into a digital account topped up by the government by 10%…
The government recently announced the long-awaited Apprenticeship Levy will go ahead from early next year. It will have implications on all businesses, regardless of size, and leaves less than a year to prepare.
Background to the levy
The Apprenticeship Levy is the government’s scheme to fund its target of creating three million apprenticeship placements by 2020. From 6th April 2017, all businesses with a wage bill of more than £3m will be required to pay the levy, charged at a rate of 0.5% of their annual bill.
How it will work
Businesses with a payroll of over £3m:
- All companies in this category will have to pay the levy into a digital account topped up by the government by 10%…
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