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How To Calculate Apprenticeship Levy
How To Calculate Apprenticeship Levy. The apprenticeship levy calculation and payment is quite easy. The government will then top up this amount by 10% and place this into your digital account ready for you to invest in apprenticeship training.

This is the second article in our 18 part series on the apprenticeship levy. How to calculate the apprenticeship levy and the benefits of itcalculating the apprenticeship levy how it works and how to calculate it if you’re a large em. In april 2017, the government rolled out the apprenticeship levy.
And So Will Appear On Your Pay Calculation Alongside These Other Statutory Costs.
If your company has an annual wage bill of less than £3 million you will not have to pay the levy since a levy allowance for this. Currently, only 2% of employers pay. Organisations with a pay bill of over £3,000,000 are required to pay a levy equal to 0.5% of their pay bill.
In This Article, We’ll Be Paying Particular Attention To Employers Who Aren’t Quite Ready To Hire New Staff And Want To Learn Whether Or Not They Can Use Levy Funds To Train Their Existing Employees.
Your allowance per each month is. Month 1 total pay bill subject to class 1 nic = £260,000. Your levy bill is calculated on a monthly basis.
Our Handy Apprenticeship Levy Calculator Is Here To Help You Estimate Your Apprenticeship Levy Funding.
Each month the cost of the apprenticeship levy will be: Apprenticeship levy is charged at 0.5% of your annual pay bill. To reconcile your apprenticeship levy in month 3, you would.
Firstly Add The Employee Name, Then Add Their Current Salary, Once You Have Added Everyone In You Are Thinking About Putting On An Apprenticeship, Press Calculate!
How is your levy and total amount to invest calculated? Apprenticeship levy is an amount paid at a rate of 0.5% of an employer’s annual pay bill. The levy is to assist all companies in covering the costs of apprenticeship preparation.
£200K X 0.5% = £1,000 Levy.
For example, the default apprenticeship levy allowance is £15,000. The apprenticeship levy calculator explanation to the above table is as follows: In our first post we talked about the levy in general, how it is calculated and what it means for employers.
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