An update on apprenticeships | Moorepay

Payroll Legislation

An update on apprenticeships

Legislation

An update on apprenticeships

Date

Effective now

Summary

Small businesses, take note! From improved funding to increased flexibility, the government’s changes to apprenticeships aim to lighten the load and drive growth. 

With full funding for small business apprenticeships and more opportunities for levy transfers, the future of apprenticeships looks brighter as £60 million of additional funding has been allocated. 

As of April, there’s the ability to transfer the levy for employers to other businesses, this was previously at 25% but has now increased to 50%.

Stay alert for further consultations from HMRC as they look at where to take the apprenticeship programs and, in particular, SME Apprenticeship Threshold as they look to increase it. The consultation is likely to take place later in 2024 and likely to explore increasing the employee size threshold from 250 up to 500. It’s certainly something to look out for if this is your employee range.

payroll legislation guide

Payroll Legislation Guide

Do you know the dates of all the complex payroll legislation changes? Are you aware of what you need to do to ensure your business is compliant? Many UK businesses aren’t aware…