The University of Oxford Apprenticeships Team have recently started to support small local businesses and charities by transferring unused Apprenticeship levy funds that can be used on Apprenticeship training. This will provide huge opportunities for SMEs who do not have the necessary funds, by enabling them to recruit and train new employees or upskill existing members of their team. It is a fantastic way in which the University can support the local community and so far the Apprenticeships team has committed to transfer over £500,000 of unused levy.
The Apprenticeships Team partnered with Skills4Stem in April 2019 as they were looking to support women-owned businesses in the UK who are interested in developing and growing their businesses through increasing their formal knowledge of project management.
The Level 4 Associate Project Manager Apprenticeship programme is for the owners and senior managers, and will last approximately 24 months.
We are so pleased to be able to support these small businesses and encourage growth through this form of training.
Some of the businesses we have supported are:
What is the Apprenticeships Levy?
The UK Government introduced the Apprenticeship Levy in April 2017. The Levy requires all employers operating in the UK, with a pay bill over £3 million each year, to invest in Apprenticeships. Employers in England who pay the Levy, which include the University, are able to access funding through a digital Apprenticeship service account which enables them to select and pay Government-approved training providers for Apprenticeship training. The levy is charged at a rate of 0.5% of an employer's pay bill.
Please note: the Apprenticeship levy can only be used to pay for the training of staff with an approved training provider.
How do transfers work?
Employers who pay the levy and have unused funds are able to support other employers who are looking to receive a transfer. From April 2019, these employers are able to transfer up to 25% of their annual funds. These funds can only be used to pay for training by a Government approved training provider.