From April 2017 businesses with an annual wage bill of £3million and above will have to pay the apprenticeship levy. However, they can claim it back to the extent that they spend the money on training apprentices.
In early 2016, the government hinted that businesses that don’t spend their levy will be able to transfer it. On 25 October 2016, the government confirmed that this will be an option from April 2018. Businesses will be allowed to transfer any they don’t use to employers “in their supply Chains, Sectors, or to Apprenticeships Training Agencies in 2018” The agencies will hand out funds for training apprentices to smaller businesses which don’t pay the levy. We’ll keep you updated.
