Bondholder 3aaa has been preparing hundreds of its key clients for the introduction of the Apprenticeship Levy.
At a recent event, held at the 3aaa County Cricket Ground, the national training and consultancy company set out the implications of recent reforms, and discussed how companies can utilise apprenticeships to bridge their skills gaps. The event was hosted by TV personality and advisor to Lord Sugar, Nick Hewer, and included presentations from Amanda Solloway, MP for Derby North, as well as fellow Bondholder John Kirkland OBE, Group Chairman, Bowmer & Kirkland.
The Apprenticeship Levy has been introduced as part of the government’s plan to help fund 3 million new Apprenticeships by 2020, and will apply to all large organisations with an annual payroll of over £3million per annum from April 2017, regardless of whether they already employ apprentices or not.
It will be payable by employers in the UK at the rate of 0.5% of the payroll cost through PAYE, although employers will not pay the first £15k of the Levy.
Employers who provide apprenticeships pay the Levy, will be able to allocate their Levy contributions as digital vouchers, which can be used to train their Apprentices.
To help with the headache of the Levy, 3aaa have launched the 3aaa Levy Management Service. The service is an employer led solution, and offers support for companies getting ready for the Apprenticeship Levy in April 2017.
Stewart Segal, Strategy Director of 3aaa, said ‘This was our first major event to discuss the Apprenticeship Levy. We are now working with a number of companies that are working through how they can maximise the benefits of an effective Apprenticeship programme.