You are a LEVY employer!
Levy Employer (Annual wage bill over £3 million)
Larger businesses, with an annual wage bill of £3 Million and over, are required to pay 0.5% of this wage bill to the Digital Apprenticeship Service which will be used to fund apprenticeships for their business.
HMRC will collect the money on a monthly basis through PAYE subsequently being transferred into the company’s Apprenticeship Service Account.
At the end of the financial year, any remaining money of the 0.5% will be lost. Alternatively, funds can be passed on to sister/partner companies for apprenticeship training purposes only