SME apprenticeship levy scheme nears £48m

The West Midlands Combined Authority (WMCA) is calling for more SME employers to recruit apprentices so that they can benefit from its Apprenticeship Levy Transfer Fund.

The fund has, so far, received £47.6 million of pledged donations from levy paying organisations and has supported more than 4,000 apprentices and 1,683 businesses.

Originally set up in March 2019, the fund allows some of the UK’s biggest businesses to cover 100% of the training cost of apprentices for SMEs by donating their unspent apprenticeship levy, which is charged annually by Government, to the WMCA rather than having to give it back to HM Revenue and Customs.

Andy Street, Mayor of the West Midlands and chair of the WMCA, said: “The Apprenticeship Levy Transfer Scheme has been a resounding success for our region. It’s fantastic to see it reach the significant milestone of supporting over 4,000 apprentices – improving skills, providing jobs, and changing lives.  

“The skills that people are learning as a result of the Apprentice Levy Transfer Scheme will set them up well for future careers and ensure we provide a lasting legacy for people across the region.

“Thanks to the funds that larger businesses have donated, a total of 1,683 small and medium-sized enterprises have already directly benefitted by being able to bring on board apprentices and by upskilling existing employees.

“I would very much encourage large employers to take the opportunity to get involved by donating their unspent levy funds – putting this money towards the service of transforming the employment prospects of talented people right across our region.”