Want to learn more about partnering with us? See our company page: Apprenticeship Levy Post Funding Predictions Cut By £100m a year A general update using public

Want to learn more about partnering with us? See our company page: Levy amount raised has fallen each year The amount of money that the levy is expected to raise has already fallen by £100m each year up to 2020/21. Initial predictions by the Office of Budget Responsibility (OBR) in November showed that in 2017/18, the levy would raise£2.8Bn, in 2018/19 £2.9bn and £3bn in 2019/20. However, the OBR figures published in March 2016 showed that these figures had been revised down by £100m

Want to learn more about partnering with us? See our company page: Latest projections reflected revised earnings and employment forecasts A spokesperson from the Treasury confirmed that the OBR’s latest projections reflected the OBR’s revised earnings and employment forecasts. What we know about levy being raised from a tax on PAYE is that the reduction is directly related to the OBR’s revised figures on earnings growth. The £3bn levy pot of 2019/20 would be split with £2.5bn going to apprenticeships in England and remaining £500m to devolved nations The treasury have said that despite the £100m reduction, the £2.5bn apprenticeship pot would remain unchanged. As for questions on whether the apprenticeship pot for Wales, Scotland and Ireland would be reduced to £400m, a Treasury spokesperson said they would be given “their fair share of the levy”

Want to learn more about partnering with us? See our company page: The levy update so far… The apprenticeship levy is set to take place in April 2017 and will be 0.5% of the employer’s payroll. It will only affect businesses with a payroll of £3m or more which is about 2-3% of employers Any money raised from the levy will be ring-fenced to ensure it is only spent on training apprentices. Any company paying the levy will receive a 10% top up on their monthly contributions Companies can access the levy money from a digital account Nadhim Zahawi MP said at the Annual Apprenticeship conference 2016 that only levy-paying companies would have access to the Digital Apprenticeship System when it launches in 2017.