Levy Payers Page
Are you getting the most out of your Levy? Are you confident that you are maximising your staff development? Are getting as much out of education as you could be?
At Yeovil College we believe we have a unique way of tailoring our programme delivery to ensure learners leave with valuable industry experience, which is clearly turned into tangible results in the work place.
What is the Apprenticeship Levy?
The Apprenticeship Levy is a government founded idea that aims to fund three million apprenticeships in the UK by 2020. The levy affects all organisations above a certain size, committing them to either taking on apprentices or paying a percentage fee of their wage bill.
If you are an employer with a wage bill of over £3 million per year, then you must pay the government apprenticeship levy.
Yeovil College is an official government apprenticeship training provider and we work with over 1,000 employers. We work tirelessly to ensure that we turn your levy into an opportunity for your business by aiding recruitment, development and retention.
How is it calculated?
To work out the amount payable for the levy, it is 0.5% of the annual pay bill. All employers will receive a £15,000 annual allowance, to be offset against the bill.
The levy is collected by HMRC monthly. It can then be accessed by employers through an online digital service account. Employers use this online service to pay for lots of different things directly related to apprenticeships including training.
If you do not spend your levy, the unspent funds will be deducted from the account and lost after 24 months. So why chuck the money away when you could invest in your businesses future through Yeovil College.
How can we help?
We can help you a great deal. We can help you find the right people, spend the right amount and help you grow your business through the employment of apprentices. We offer advice, guidance and structure.
Our dedicated Apprenticeship team are already supporting hundreds of levy paying businesses who have seen massive beneficial impacts gaining apprenticeships through Yeovil College. Our specialised team can help you to understand how to fully gain from your levy account, suggesting the best ways to spend it. Our team has the most up-to-date knowledge regard levys and all things apprenticeships which we want to pass to you.
If you are a levy payer and want to gain more out of your pay, contact Yeovil College Apprenticeship team on 01935 88432 or email apprenticeships@yeovil.ac.uk help us help you, don’t waste any more time and get in contact today!