From April 2018, employers that pay the apprenticeship levy will be able to transfer apprenticeship funds to other organisations to pay for their apprenticeship training and assessment.
The Education & Skills Funding Agency have provided a brief update on how the transfers process will work, and the kinds of planning activities you could begin now if you are considering transferring some funds to another employer.
All of the information about transfers is now on a new web page, which will be updated as more detail becomes available: transferring apprenticeship funds.
Top 5 facts about transfers
1. What can I transfer as a levy-paying employer?
You can transfer a maximum of 10% of your annual funds, which will be calculated from the total amount of levy declared during the previous tax year.
2. Who can I make a transfer to?
You can make a transfer to any employer, including employers who pay the apprenticeship levy and Apprenticeship Training Agencies (ATAs). If you send a transfer you cannot also receive a transfer.
3. What can the transfer be used for?
You can transfer funds to another employer to pay for the costs of training and assessment for their apprenticeships. These must be for apprenticeship standards. Transfers cannot be used for apprenticeship frameworks.
4. Why should I consider making a transfer?
By making a transfer you could support other businesses. For example, by supporting the skills of your supply chain’s workforce, your own business is also likely to benefit. You could help a charitable organisation or support the skills base within your local economy.
5. What do I need to think about to prepare for transfers?
If you’d like to start preparing for transfers, read our short blog on the types of activities you could be doing now to get ready.
If you have any questions please call the National Contact Centre on 08000 150 600 or email email@example.com.