Now that you have determined your Paye bill and assessed the amount of Apprenticeship Levy training funds available to you, here’s how you can access your Levy pot.
Step 1: Do your research
As an employer looking to access on-site training for your employees, you will need to decide on an appropriate training provider. Here at Solvo Vir,we offer a combination of face-to-face and online learning, which we believe is the most effective training method.
Step 2: Choose an assessor
Training and qualifications should be delivered by a recognised assessor. All our training courses and qualifications are accredited by the relevant training body, such as Skillsfirst, City and Guilds and the REC.
Step 3: Evaluate your costs
Take a look at our Apprenticeship Levy calculator to understand the cost of each of our apprenticeship courses.
Once you have agreed to buy apprenticeship training from a training provider, and the apprenticeship has started, there will be monthly deductions from your Apprenticeship Service Account to the selected training provider. Twenty percent of the total amount will be held back until that particular programme is completed.
What if I don’t spend my training funds in the first year?
If the Apprenticeship Levy funds in your Apprenticeship Service Account have not been spent, they will expire 24 months after they were first deposited into that account.
For more information on how to start apprenticeship funding for employers with a Apprenticeship Service Account, please click here.
What happens if I spend my funds too quickly?
If you have already used the funds in your Apprenticeship Service Account, Apprenticeship Levy funds can still be made available through what is called a co-investment. In this instance, you will be required to co-invest just 5% of the total cost of the apprenticeship and the government would pay the remaining 95%. This is the same arrangement that is in place for non-Levy paying organisations.
What can I spend my Levy funds on?
Apprenticeship Levy funds must be spent on training employees within your organisation. How you choose to train your teams is up to you. Employers can spend Apprenticeship Levy funds on training programmes for promising, entry-level talent. They can also be used to further develop senior employees who may be looking to move onto the next stage in their careers.
It is important to note that you will only be permitted to use the funds in your digital accounts towards the costs of apprenticeship training and end point assessment. These funds must be spent with an approved training provider and assessment organisation.
Because employers can use their Apprenticeship Levy funds for existing employees and new staff, the scope of training and development is extensive. You will be able to use training funds to provide:
- Apprenticeships and entry-level programmes for new staff
- Professional development programmes for existing members of staff
These training programmes and apprenticeships could help plug skill gaps within your organisation, for example by developing your existing team through an apprenticeship programme, before recruiting new staff.
What can’t I spend my Apprenticeship Levy funds on?
If you are in doubt, below is a list of exclusions applied to spending the funds in your Levy pot:
- Costs of setting up an apprenticeship programme
- Staff or apprentice wages
- Traineeships or work placement programmes
- Travel and subsidiary costs
If you would like to speak to a member of the Solvo Vir team about starting your on-site training, feel free to give us a call on 0330 0539140.