By Anna Jordan on Small Business – Advice and Ideas for UK Small Businesses and SMEs
The good news is that you can get assistance from the government. The funding can help you pay for apprenticeship training and assessment or you can get an apprentice incentive payment which you can use to support your business.
Apprenticeship training and assessment
For training and assessment, the amount of funding you receive depends on whether you pay for the apprenticeship levy. You should be paying the levy if you’re an employer with a pay bill of over £3m a year.
If you do not pay the levy, you will contribute five per cent towards the training costs of your apprentice. You’ll need to agree a payment schedule with your training provider – and you’ll be paying them directly for the training.
The government will pay 95 per cent up to the funding band maximum. They will also pay directly to the training provider. You may be eligible for additional funding depending on you and your apprentice’s circumstances.
You’ll contribute 10 per cent towards the cost of your apprentice’s training and assessment if your apprentice started before April 1 2019. The government pays the remaining 90 per cent.
If you do
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Apprenticeship grants
by Anna Jordan • • 0 Comments
By Anna Jordan on Small Business – Advice and Ideas for UK Small Businesses and SMEs
The good news is that you can get assistance from the government. The funding can help you pay for apprenticeship training and assessment or you can get an apprentice incentive payment which you can use to support your business.
Apprenticeship training and assessment
For training and assessment, the amount of funding you receive depends on whether you pay for the apprenticeship levy. You should be paying the levy if you’re an employer with a pay bill of over £3m a year.
If you do not pay the levy, you will contribute five per cent towards the training costs of your apprentice. You’ll need to agree a payment schedule with your training provider – and you’ll be paying them directly for the training.
The government will pay 95 per cent up to the funding band maximum. They will also pay directly to the training provider. You may be eligible for additional funding depending on you and your apprentice’s circumstances.
You’ll contribute 10 per cent towards the cost of your apprentice’s training and assessment if your apprentice started before April 1 2019. The government pays the remaining 90 per cent.
If you do
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Labour to stop rollout of Making Tax Digital to all small businesses if it wins
by Timothy Adler • • 0 Comments
Originally written by Timothy Adler on Small Business
Labour will stop the rollout of Making Tax Digital to all VAT-registered small businesses if it wins the general election.
Currently, MTD only applies to VAT-registered small businesses with turnover higher than £85,000. However, HM Revenue & Customs is planning to extend MTD to all VAT-able small businesses in its drive to find more revenue.
Rebecca Long-Bailey, shadow business secretary, told Radio 4’s Today programme: ““We’re going to scrap quarterly reporting for companies with turnover under £85,000.”
Long-Bailey was speaking on the morning Labour published its 20 Pledges to Business document, which encapsulates Labour’s thinking when it comes to helping small businesses, which Long-Bailey describes as “the lifeblood of our economy and our communities”.
>See also: Business rates reform key, says Labour business chairman Rachel Reeves
Although most of the 20 pledges have been announced elsewhere, those of most interest to small business are:
Reform business rates
Introduce statutory annual revaluations to stop small businesses facing periodic and unmanageable rate hikes
Guarantee a fair and transparent appeals process
Exclude new investment in plant and machinery from future business rates valuation to encourage investment
Establish a £250bn UK National Investment Bank
The National Investment Bank and a network of regional and national development banks will
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Apprenticeship levy will see company revenues soar
by Owen Gough • • 0 Comments
Survey of hundreds of business leaders reveals employers believe apprenticeship and training schemes will increase workforce productivity and revenues The government’s Apprenticeship Levy will be a boon to business rather than a hindrance to productivity according to a survey of industry leaders. Hundreds of business leaders who took part in the poll said that they
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Use it or lose it: why the Apprenticeship Levy matters
by Owen Gough • • 0 Comments
The Apprenticeship Levy was introduced over three months ago (on 6th April 2017), but many businesses are yet to use it to their advantage. This may be due to general confusion over how to practically apply the levy, as well as a lack of understanding of what the Levy entails. The levy is effectively a
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Apprenticeship levy galvanising HR strategies of major employers
by Owen Gough • • 0 Comments
The introduction of the apprenticeship levy offers organisations an opportunity to galvanise thinking around the sourcing and the development of future talent. That is according to the latest research from talent acquisition and management firm, Alexander Mann Solutions: The Apprenticeship Levy – How to turn a major social change (or an unwanted tax) into a
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The Apprenticeship Levy: The opportunity for UK businesses
by Ben Lobel • • 0 Comments
Few businesses would turn down the chance to hire or upskill employees at a fraction of the current cost. In fact, this opportunity is available from as early as this month thanks to new legislation. From April 6th 2017 the funding of apprenticeships will be revolutionised as government introduces the Apprenticeship Levy. Government is set
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How will the apprenticeship levy benefit small businesses?
by Owen Gough • • 0 Comments
Apprenticeships are evolving, and April will see fundamental changes to the way these programmes are funded and delivered. The introduction of the apprenticeship levy has stolen all the headlines, but this is a change that impacts on employers of all sizes. As well as changes to the funding – what an apprenticeship is has also
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Many smaller businesses not ready for the new apprenticeship levy
by Owen Gough • • 0 Comments
Smaller businesses could be unprepared for the new apprenticeship levy, which is expected to come into force on 6 April 2017, according to a survey from XpertHR. The levy will require employers with a pay-bill of more than £3 million a year (around 2 per cent of businesses in the UK) to pay 0.5 per cent of
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How the introduction of the apprenticeship levy will help businesses
by Ben Lobel • • 0 Comments
There has been a surge in demand for apprenticeships throughout 2016 – statistics released by the House of Commons earlier this year stated that there were 492,700 young people starting apprenticeship programmes, an increase of 12 per cent than in the previous year. The primary aim of the Apprenticeship Levy is to ensure that SMEs
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