“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. “
Apprenticeship Training Made Easy
The fund aims to help small to medium-sized companies take on an apprentice
Graduation Ceremony for Those who Passed Their Apprentice
You can read the full article on the new scheme and backing, please visit the West Midlands Combined Authority site:
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