If you, as an employer, have to pay an annual wage bill of over £3 million, you will need to work out, report and pay a contribution to HMRC for the Apprenticeship Levy, through PAYE.
Doing so will give you access to the Apprenticeship Service Account, which means you can utilise the money you’ve paid in for training and development. This is in addition to a 10% contribution the government will make! There is also a £15,000 allowance for each tax year, which can be used to help with Levy payments, this works on a monthly basis and accumulates over a year.
Using your Apprenticeship Service Account you can also set approved providers to deliver your apprenticeships, training or development programs. After 2 years, any funds that are not used will be removed from your account, so it’s worth using everything you put in!