APPRENTICESHIP LEVY TRANSFER ALLOWANCE DOUBLES TO 50%

The apprenticeship levy transfer allows large employers to support other businesses by funding apprenticeships. As of April 2024, the amount able to be transferred has increased from 25% to 50%.

What is the Apprenticeship Levy?

Employers who have a pay bill of more than £3 million per year have to pay into their own Apprenticeship Levy account. 50% of these Levy funds can be used to fully fund an apprenticeship for another business. If unused after 2 years, the funds are recovered by government.

Transfer Allowance

Levy paying employers can now choose to transfer up to 50% of their levy funds from the previous financial year, double the previous 25%, to other businesses of their choosing. These funds are 50% of the total amount of levy declared in the previous tax year, with the ‘English percentage applied’ i.e. the percentage of employees that live in England, plus a top-up 10% payment from the government.

How to transfer levy funds

You can transfer levy funds through an apprenticeship service account by either pledging and transferring levy funds or by inviting a business you know to make a connection.

If you are an employer in the Liverpool City Region and would like to pledge or receive Apprenticeship Levy funding, the LCR Employer Brokerage Service is able to work with employers to support them through the levy transfer process, to keep as much funding in the Liverpool City Region as possible.

Access support to receive or share Apprenticeship Levy Funding HERE.