Large employers that pay the apprenticeship levy can choose to transfer up to 25% of their levy funds each year to other businesses, to pay for their apprenticeship training and assessment.
Transferring levy funds is a way of supporting other businesses by deciding which sectors, skills or local areas you’d like to fund.
By retaining levy payments locally, it will support vital skills growth across Oxfordshire and help employers develop talent pipelines and retain key skills within the county.
OxLEP’s Apprenticeship Advisors can offer free support and guidance regarding the Social Contract and are pleased to work with Oxfordshire-based businesses in a variety of ways.
This includes support with:
· Helping businesses to unlock their Apprenticeship Levy
· Enabling businesses to pledge unused Levy to SMEs across Oxfordshire
· Understanding local labour market information, skill shortages and talent pipelines
This support is already pre-funded so is at no cost to the employer.