Transfer Your Levy Funds Today!
Don’t worry too much about the process, NowSkills is here to guide you every step of the way. We will make sure everything is smoothly transferred to local employers and that apprentices are being funded correctly.
In order to transfer levy funds, the sending and receiving employer both need to agree to the details of the transfer of funds. For example, the cost and which apprenticeship standard.
When both employers have registered on the apprenticeship service, the following must have been completed in order to transfer levy funds.
Connect with each other
The receiving employer needs to add the apprentices details
Confirm the transfer
Employers transferring levy funds from their Apprenticeship accounts
Before making a transfer from your apprenticeship account, make sure that you:
Have enough funds to transfer to another employer
Have a clear understanding of the forecasted cost to you, which will cover the duration of the apprenticeship you’ve agreed to fund through a transfer
Understand you will be funding the total cost of their apprenticeship and not just the co-investment
Agree with the employer who is receiving the transfer, details of the apprenticeships you’re funding
Are aware of the funding rules around transferring apprenticeship funds
You should also know:
You can’t transfer funds to another employer if you currently receive a transfer
If you’re currently transferring funds to another employer, you can’t receive transferred funds to pay for your apprenticeships
Transfer payments will leave your apprenticeship service account first, each month
If the apprenticeship stops, your transferred payments will stop as well
Employers looking to receive a levy fund transfer
If you wish to receive a transfer from another employer then you must be made aware of the followings:
You can only use the transferred funds for apprenticeship training and assessment
Transferred funds can only be used for apprenticeship standards
You’ll need to create an account on the apprenticeship service to receive the transfer and pay for apprenticeship training
Transfer payments will be made monthly from the sending employer to your apprenticeship account
You won’t have to pay any funds back to the sending employer
A transfer can fund up to the funding band maximum of a standard, if the cost of training is more, you’ll have to pay the difference to the training provider
If a training provider transfers funds to you, they cannot deliver the training for that funded apprenticeship
If you’re still unsure about something, please do not hesitate to contact us!