Businesses are “slow” to take advantage of the newly introduced Apprenticeship Levy, according to the Bis Henderson Academy.
It said that this inaction could “lead many businesses to miss out on the opportunities afforded under the scheme to up-skill individuals across the enterprise.”
“Of those companies affected, we are seeing a third who have tangible plans to use their levy funds, a third who are thinking about it and another third who are not active at all on the issue,” said David Lynch, managing director, Bis Henderson Academy.
The scheme, which was put into place in April, involves a tax increase at 0.5 per cent of the total payroll bill to be returned to the employer through an online account, along with an uplift of 10 per cent from the government. The money is able to be spent but only on the implementation of apprenticeship based training