APPRENTICESHIP LEVY RATES HALVED FOR SMALL BUSINESS

摘要

The government plans to halve the amount of apprenticeship levy contributions that small businesses pay from 10% to 5% to encourage take up. This measure is expected to cost the Exchequer £25m in 2019-20, rising to £60m in 2021-22. The reforms will provide up to £240m to halve the co-investment rate for apprenticeship training to 5%. Other changes include raising the amount of the apprenticship levy that larger companies can transfer to smaller firms in their supply chain from 10% to 25%.