“A leading business membership group is backing a scheme set up by the West Midlands Combined Authority (WMCA). To cover the cost of apprenticeships training for small and medium-sized firms.”
The WMCA created the Apprenticeship Levy Transfer Fund. The aim of this fund is to cover the training costs of an apprentice for small to medium-sized companies. This is done through larger companies donating their unspent levy.
The apprenticeship levy is charged by HM Revenue and Customs on all businesses with a payroll of over £3 million. If a companies levy pot remains unspent after two year the funds are retained by the Government after that they can’t be used.
” The £69m Skills Deal agreed with the Government in summer 2018 – the first of its kind in the country – set up the Apprenticeship Levy Transfer Fund by allowing the WMCA to partner large organisations with local small to medium-sized enterprises (SMEs). This means the large employers donate a portion of their unspent apprenticeship levy funds to the smaller companies, covering 100% of their apprenticeship training and assessment costs. “
We work with the Ladder Apprenticeship Foundations (The Ladder for Birmingham). The Ladder Apprenticeship Foundation is part of a joined force to promote and provide small to medium-sized firms with this scheme.
To find out more about apprenticeships please click here