As an apprenticeship levy payer, you may be happy to hear that as of May 2018, you will be able to transfer or receive 10% of annual levy funds.
There are many points to be covered to be eligible for this but the basic ones are that employers (both giving or receiving transfers) must be on the Apprenticeship Service. They must both link on the Apprenticeship Service and bear in mind that funds will only be available to be used on apprenticeship standards.
As a new initiative the process has been broken into the following phases:
From the end of April 2018:
- Apprenticeship Levy payers can see their transfer allowance
From May 2018:
- Apprenticeship Levy payers can transfer funds to another organisation to fund apprenticeships
- Receiving organisations can start adding their details to the Apprenticeship Service
From June 2018
- Subject to all criteria being met the first transfers will take place
Click here to read in-depth information regarding ‘Transferring Apprenticeship Service funds’.
