The Apprenticeship Levy (UK)

The Apprenticeship Levy is a UK tax on large employers to fund apprenticeship programs. Employers with a pay bill over £3 million annually contribute 0.5% of their total payroll to the levy. These funds are collected by HM Revenue and Customs and held in a digital account, which employers can use to pay for apprenticeship training and assessments. The aim is to promote skills development and workforce growth by encouraging businesses to invest in training their employees through apprenticeships. Smaller businesses may be eligible for funding exemptions or support schemes.