The UK government has revealed details of how the new apprenticeship levy will work when it comes into effect in April 2017.
Some large UK-based Industrial Members of TWI are likely to be affected.
The levy is set to apply to fewer than two per cent of UK employers – those with annual wage bills of £3 million or more. These organisations will be required to pay a levy of half a per cent of their annual wage bill. The levy will be collected automatically by HM Revenue and Customs through Pay as You Earn.
Money collected through the scheme will be made available to employers to fund apprenticeship training, up to a cap which will depend upon the level of training being provided.
Further details are set to be announced over the course of 2016. For more information visit the Apprenticeship levy: how it will work page on GOV.UK.
The Welding Institute is a strong proponent of apprenticeships and has been closely involved with the creation of apprenticeship standards relating to welding. To find out more visit the UK Apprenticeships page on the Welding Institute website.