FUNDING

Sheffield CIty Region Skills bank

up to 70% funding for organisations to train staff based in the sheffield city region

CQM are offering a range of leadership and management training programmes from essentials to bespoke packages - with up to 70% funding through the Skills Bank scheme.

 

The Sheffield City Region comprises of nine local authority areas: Barnsley, Bassetlaw, Bolsover, Chesterfield, Derbyshire Dales, Doncaster, North East Derbyshire, Rotherham and Sheffield. 

 

£17m funding for the scheme is provided by the European Social Fund and Growth Funding.

 

 

Skills funding agency

funding for apprenticeship programmes

Organisations with an annual wage bill of £3m+ will pay 0.5% of their wage bill into a Levy fund, which must be spent on Apprenticeship training. Read further details below.

 

Organisations with a smaller wage bill pay a 5% contribution towards the cost of any Apprenticeship training (from £150 to £1,800)

 

 

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Apprenticeship levy

 

Employers with an annual pay bill of more than £3 million will need to spend 0.5% of their total pay bill on the apprenticeship levy.

There is a ‘levy allowance’ of £15,000 per year. This means that the total amount you need to spend is 0.5% of your pay bill, minus £15,000.

 

Calculating what you have to pay

To calculate how much levy you will pay, follow these steps:

1) Work out what your total pay bill is.

Your pay bill is made up of the total amount of your employees’ earnings that are subject to. Employees’ earnings include any money they make from employment, such as:

 

  • wages
  • bonuses
  • commissions
  • pension contributions

 

2) Work out what 0.5% of your total pay bill is.

3) Subtract the £15,000 allowance.

 

Example

An employer with an annual pay bill of £5,000,000 will need to spend £10,000 on the levy:

 

levy sum: 0.5% x £5,000,000 = £25,000

subtracting levy allowance: £25,000 - £15,000 = £10,000 annual levy payment

 

Use the LEVY CALCULATOR  to estimate your levy contribution, begin to plan your training requirements, and estimate your financial spending.

 

Accessing money paid under the apprenticeship levy

Once you have declared the levy to HMRC you will be able to access and manage your funds through a website: the Digital Apprenticeship Service. This website should be open for registrations in February 2017 (as of most recent SFA update in January 2017). 

 

The system will allow you to:

  • Select the training provider or providers you want to deliver the training (CQM can advise you on this selection)
  • Select the organisation that will assess your apprentices (if one of the new Standards)
  • Post apprenticeship vacancies
  • Set the price you’ve agreed with your training provider (CQM can help you to negotiate this)
  • Pay for apprenticeship training and assessment
  • Stop or pause payments (for example, if your apprentice stops their training, your apprentice takes a break from training or you haven’t received the service you agreed with the provider)

 

Funds

The government will apply a 10% top-up to the funds you have for spending on apprenticeship training in England, applied monthly at the same time the funds enter your digital account. That means for every £1 that enters your digital account, you actually get £1.10.

 

Funds will expire 24 months after they enter your digital account unless you spend them on apprenticeship training with a training provider.

 

 

Choosing apprenticeship training

 

You can only spend funds in your digital account on training from a government-approved training provider - see the register of apprenticeship training organisations.

There are 2 different types of apprenticeship training you can choose from:

apprenticeship standards - each standard covers a specific job role and sets out the core skills, knowledge and behaviours an apprentice will need to be fully competent in their job role and meet the needs of employers, standards are developed by employer groups known as ‘trailblazers’

apprenticeship frameworks – a series of work-related vocational and professional qualifications, with workplace and classroom based training

 

Frameworks are being phased out by 2020, as we move over to the employer-led apprenticeship standards.

 

 

 

CQM Learning