From 6 April 2017 employers with a payroll of over £3 million have been required to pay 0.5% of their payroll costs to HMRC to fund the Apprenticeship Levy.
Many employers are already using the funds to upskill their workforce, but research undertaken by The Open University suggests that almost one in five (18%) of organisations surveyed say they still don’t know how the levy works, and the same proportion of those not accessing levy funding say they have no plans to in the future.
The scheme means that anyone of any age can get virtually any qualification paid for from the Levy. It therefore does not make sense to pay it but not use it.
We have a guide which explains how to access the funds and the types of courses they can be used to up skill your workforce: http://www.irwinmitchell.com/about-us/newsletters/employment-update/apr17-apprenticeship-levy
More than half of employers who pay the apprenticeship levy are already making use of it, according to research by the Open University.