As part of the government apprenticeship reforms, employers now have to pay an apprenticeship levy tax for payroll costs above three million per annum.
This is aimed at supporting the government’s key strategic and electoral target of delivering three million apprenticeships during the five-year lifetime of the current parliament. You can find out more about the levy at www.gov.uk
The introduction of the levy has prompted a number of employers in the retail sector to think about how they might use the levy accounts within their own businesses
- Apprenticeships will be funded via the apprenticeship levy for employers with a pay bill of over three million.
- The new standards are employer-led to ensure that training and skills development are aligned to industry need.
- The standards outline the knowledge, skills and behaviors required for an apprentice to be fully competent in their role.
- The transition from ‘frameworks’ to ‘standards’ gives employers greater flexibility of delivery, with the option of integrating in-house training that is mapped to an apprenticeship qualification.
- Apprentices will need to complete an independent end-point assessment to achieve their qualification, focused on outputs as opposed to inputs.
How can we support you?
We’re here to guide you by:
- Providing impartial guidance, support and advice.
- Helping you to understand what the levy means for your business and the options that are available.
- Offering the latest updates on the levy announcements.
- Supporting you in finding the right provider to deliver your provision through our network of trusted providers.
- Hosting events and workshops to give an overview of the reforms, the levy and what it means for your business.
- Facilitating the development of the new apprenticeship standard for retail.
If you would like to get involved or find out more information, please contact us