Unspent apprenticeship levy funds easier to access for SMEs
24 August 2021
The Department for Education confirmed that improvements were being made to the apprenticeship levy system, and one of them involves making it easier for Small and Medium-sized Enterprises (SMEs) to access the unspent levy funds of other employers.
Employers who pay the Apprenticeship Levy will be able to transfer unspent levy funds to other employers via a new online pledge function on GOV.UK, which has yet to be established. Those employers will also have the option of defining the criteria of the apprenticeship they want to support via transfer and will be able to set the amount of their funds available for transfer (up to a maximum of 25% of their annual funds.)
The pledge will then be advertised on a public-facing platform which will allow other employers, training providers and intermediary bodies to view the opportunities that are available. From September 2021, potential receiving employers should be able to apply for these pledges.
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