05 March 2020
Businesses across the UK are failing to tap into their Apprenticeship Levy – a pool of funds that they’ve paid into which is specifically designed to be used to train apprentices. Businesses with a payroll of £3 million or more are obliged to make monthly deposits of 0.5 per cent of their annual pay bill into the apprenticeship levy pot. And yet, last year, more than £133 million of levy funds went unspent.
Catch22’s Apprenticeships team understand that levy funds and transfers can be confusing to navigate. We have created a helpful diagram to break the information down for individuals and employers.
With the help of an apprenticeship provider, like Catch22, businesses can use their levy to fill skills gaps and build a workforce of loyal, enthusiastic people suited to the needs of their business.
In this booklet we explain how businesses can make the most of their levy, feature case studies from partners, and show the advantages to backing an apprentice.
For more information on how Catch22 can help you make the most of the Apprenticeship Levy and our wider work in apprenticeships, please contact:
- Learn more about why you should hire an apprentice
- View our apprenticeship programmes and vacancies
- Read our ‘Apprenticeships Explained’ blog where Catch22 Director of Vocational Training, Chris Stoker- Jones, answers frequently asked questions about apprenticeships.