+44 (0) 191 217 0775
The Credit Services Association (CSA)
Apprenticeships myths & facts - let's set the record straight
The new Levy for apprenticeships is a waste of time, and will not produce the number or quality of apprentices the Government imagines.
This is a rather cynical view that fails to take into account the boost the Levy will give to some of the more under-invested areas of the financial services community, and in particular those working in collections and credit management.
What some fail to realise is that there is no upper age limit to an apprenticeship, and an ‘apprentice’ is not necessarily starting at the bottom rung of the ladder.
The Levy is not about re-directing current training investment; it provides an opportunity of creating something genuinely ‘new’. As long as the employee is gaining substantive new skills and the training is materially different from any other training previously provided, then they qualify. The levy will raise the employer’s commitment to – and awareness of – training and development, and provide them with more control of the design and quality of the apprenticeship training that is delivered
In terms of debt collection, a number of specific apprenticeship standards have already been created that will be offered and supported by the CSA. These range from the new standard in Financial Services Credit Controller/Collector through to the most advanced Senior Compliance/Risk Specialist Apprenticeship standard. Many CSA members are also exploring specialist routes as well including IT, Accountancy, and Law.
The new Levy, due to start in April, is a 0.5 percent tax on all employers with a wage bill of £3 million or more.
Not everyone has to pay the levy.
ALL firms with a wage bill of £3m or more must pay the levy - even Premier League clubs!
Companies active in Scotland are not subject to the levy.
Scottish companies are also subject to the Apprenticeship Levy. Learn more.
Learn more by reading our response to the IFS report on the Apprenticeship Levy, where CSA Head of Learning & Development Fiona Macaskill champions the levy and the benefits of apprenticeships