The Apprenticeship Levy has come into force. In summary the levy will require all employers in the UK with an annual wage bill of over £3 million to pay 0.5% of it towards funding apprenticeships. Employers in England can set up an online account to manage their funds and invest in training for apprentices working for them – currently around 100 accounts are being set up every day. The government will then provide a further 10% top up to levy contributions each month into employers’ accounts.
Full details about the Apprenticeship Levy can be found in the Charity Tax Map here.