Posted: Monday, 26 July 2021 @ 11:23
In an attempt to stimulate growth in Apprenticeship starts the Education and Skills Funding Agency (ESFA), the government agency responsible for administering the Levy, have introduced some flexibilities in the way funding can be used.
Employers in England who are currently paying the Apprenticeship Levy, those with a wage bill in excess of £3 million, can transfer 10% of their Levy fund to other employers. The objective of this change in policy is to increase the number of people starting Apprenticeship programmes which has seen a reduction in numbers in the past 6 months.
This flexibility will mainly allow very large employers with excessive Levy funds to give Apprenticeship funding to smaller employers to enable them to take on Apprentices.
Employers with a large amount of Apprenticeship funding may not be able to expend this money within the timescale allowed, within 2 years.
They will therefore be able to transfer funding to employers, particularly those within their supply chain, and help them recruit Apprentices or provide Apprenticeship programmes for their own staff.
Here at Intec we work with both Levy paying employers and SMEs who are keen to train Apprentices. Any employers wishing to transfer their levy funding or who do not have funding for Apprenticeship training should call us on 0808 100 1155 for more information.