The Government have released guidance on the transfer of Apprenticeship funds.
From April 2018 employers who pay the apprenticeship levy will be able to transfer apprenticeship funds to other organisations.
Employers who want to transfer funds can find employers who want to receive a transfer in a number of ways, for example:
- work with an employer in your supply chain
- get in touch with employers in your industry
- get in touch with an Apprenticeship Training Agency (ATA)
- work with regional partners
Employers can transfer a maximum of 10% of annual funds. This is worked out from the total amount of levy declared, with the English % applied, plus the 10% government top-up payment.
These funds will be used to pay for the training and assessment cost of the apprenticeships agreed with the receiving employer and will be paid monthly for the duration of the apprenticeship.
Only levy-paying employers can make a transfer. Any employer can receive and use transferred funds, but they have to be registered on the apprenticeship service. A transfer can only be used to pay for training and assessment for apprenticeship standards.