As an employer, if your pay bill is over £3million, you are required to pay the Apprenticeship Levy to HMRC. You will be able to put these contributions toward the cost of a degree apprenticeship.
If your contributions have been exhausted, the government will pay at least 95% of the fees for you. You will need to cover the remaining 5%.
If your annual pay bill is less than £3million, you will not be contributing towards Apprenticeship Levy. However, the government will pay at least 95% of the fees for each apprentice you have. You will need to cover the remaining 5%.
Your apprenticeships can be funded by a levy paying employer transferring up to 25% of their unused levy to a different employer. For more information, please visit the government website.