The government’s new apprenticeship levy – introduced 6 April 2017 - requires all UK employers with a pay bill over £3 million per year to invest in apprenticeships.
The new levy is charged at a rate of 0.5% of a company’s payroll and collected monthly via PAYE. This amount can only be used to fund staff training approved by the Skills Funding Agency (SFA) and companies can benefit from this investment by training apprentices.
However, research by Middlesex University and the British Chambers of Commerce (BCC) in 2016 found that 39% of firms had no understanding of the apprenticeship levy – or hadn’t even heard of it.
To help employers make the most of the new levy, experts at Middlesex University have put together five reasons why degree apprenticeships could be the perfect solution for effectively developing their workforce.
Why degree apprenticeships?
Apprenticeship qualifications can be at degree, masters or doctorate level to fully suit an organisation’s needs. If your business would like expert help in shaping your future workforce through the apprenticeship levy, please contact Middlesex University London’s Corporate Engagement team on 020 8411 5050 or email firstname.lastname@example.org
For students, degree apprenticeships are an excellent way of combining work with higher education. They offer the opportunity to gain a degree-level qualification while simultaneously earning and gaining experience in your chosen field.
Find out more about applying for a degree apprenticeship