What is the Apprenticeship Levy?
The Apprenticeship Levy was introduced by the UK Government in April 2017 in order to boost the UK’s productivity and competitiveness by investing in skills development.
If an organisation has a payroll of over £3 million they will pay a Levy of 0.5% on their pay bill. The Levy is collected at the same time as PAYE payments are made and can be used to purchase apprenticeship education through the Government Gateway’s Digital Apprenticeship Service. This money can then be used to fund apprenticeship training, for new or existing staff, from Loughborough University or other Government-approved providers.
If organisations do not spend the money within 24 months, Government will remove the funds from the employers apprenticeship account, and they will lose it. It is important that organisations paying the Levy get the maximum return from their contribution.
Loughborough University is an approved provider of Apprentice Levy Services to the Skills Funding Agency. With more than 30 years' experience in developing and delivering innovative executive education programmes with employers, our new master's programmes utilise our expertise in applying our research knowledge and delivering executive education. This has enabled us to be one of the few business schools globally to hold triple accreditation (AACSB, EQUIS and AMBA).