Apprenticeships Norfolk have launched a new Levy Support Scheme to enable companies who pay the apprenticeship levy, but don’t spend their full allocation, to transfer their funding to allow other companies to provide training opportunities.
Companies can transfer their unspent levy to a Norfolk business to enable them to hire more staff or boost skills of their current workforce which helps the county's economy to thrive, with money that would otherwise be returned to HM Treasury.
A number of companies have already pledged nearly £500,000 of their unused levy to help support training in the county and boost investment in key skills. Firms such as Aviva, B&Q, and Anglian Home Improvements will transfer their unused levy to companies who will be able to take on a new apprentice or upskill a current member of staff. Examples of companies who are keen to transfer their levy include Aviva, who are looking to fund any digital and IT apprenticeships, Anglian Home Improvements, who want to transfer their levy to companies that support the local community, and others, such as the East of England Co-Op, who are keen to transfer their levy to a variety of sectors.
The apprenticeship levy is paid by employers who have an annual wage bill of £3m or more. Businesses can choose to transfer up to 25% of their levy funds each year to help other small companies pay for their apprenticeship training.
Apprenticeships Norfolk are hosting a series of webinars to further explain the scheme and to help companies see the benefits of transferring or receiving levy. They are being held online on the following dates:
- 18 May at 9.30-10am for employers. Sign up to the online webinar for employers on 18 May.
- 18 May at 1-1.30pm for stakeholders. Sign up to the online webinar for stakeholders on 18 May.
- 23 May at 12.30-1pm for employers. Sign up to the online webinar for employers on 23 May.
- 24 May at 9.30-10am for stakeholders. Sign up to the online webinar for stakeholders on 24 May.
For more information about the Levy Support Scheme, or to sign up to either transfer or receive levy, visit the Apprenticeships Norfolk website.
