Employers given green light to transfer up to 10% of levy funds to multiple businesses the Department for Employment reports.
Large employers will soon be able to transfer up to 10% of their apprenticeship levy funds to multiple businesses, helping to boost the number of high-quality apprenticeships across the country.
Apprenticeships and Skills Minister Anne Milton announced the move on 26th June at an event attended by over 160 top businesses to celebrate apprenticeships and the significant contribution they are making to their businesses and the wider economy.
The apprenticeship levy is giving employers a real opportunity to invest in high-quality training, helping to grow their business and get the skilled workforce they need to thrive and succeed. Only around 2% of employers pay the levy but that investment has funded more than 40% of the apprenticeships started in the last year.
Currently, levy-paying employers can transfer up to 10% of their apprenticeship service funds to one other employer. After listening to businesses, the Minister’s announcement today goes further and provides even greater flexibility for businesses so that from July, employers will be able to make transfers of up to 10% to as many other employers as they choose.
This move will lead to more quality apprenticeships being created and will help employers to work together in partnership, supporting them to take on apprentices who may not have done so otherwise.
Apprenticeships and Skills Minister Anne Milton said: Read more