Paying the apprenticeship Levy,
You can pay for apprenticeship training and assessment with funds through your apprenticeship service account (DAS). Once the apprenticeship training you’ve brought has started, monthly payments will be taken from your service account and sent to the provider. You will see funds entering your account each month after you have declared the levy to HMRC, and funds leaving the account each month as you pay for further training. If you don’t have enough funds in your account to pay for training in a particular month, you will share the remaining cost of training and assessing your apprentices for that month with the government. This is called ‘co-investment’, you will pay 5% of the outstanding balance for that month, and the government will pay the remaining 95% up to the funding band maximum. If your costs go over the maximum, then you must pay the difference out of your own budget.
The Digital Apprenticeship Service
This is available to all employers in England will have access to a new, easy to use Digital Apprenticeship Service that will help support them to manage their apprenticeship programme. Control of apprenticeship funding will be put in the hands of employers through the Digital Apprenticeship Service. From May 2017 levy-paying employers will be able to access funding for apprenticeships through their Digital Apprenticeship Service account and:
Negotiate and pay for apprenticeship training and assessment
Manage their funding and apprentices.
View their levy balance and plan their spending.
The indicative online tool, employers can estimate their levy contribution, begin to plan their training requirements and = estimate their financial spending available to them
Through recruiting an apprentice, City College Peterborough can post your vacancies for apprenticeships free of charge.
Please download our Levy Funding flowchart for more information.