Research by the Freelancer and Contractor Services Association claims that 14 per cent of intermediaries believe they are at risk of going out of business due to the UK Government's plans to introduce the Apprenticeship Levy in April 2017.
38 per cent of the respondents to the survey stated that they do not yet know how they are planning to fund the levy, with nine per cent stating they will have to absorb it as an overhead. Furthermore, 40 per cent of respondents said they would consider hiring apprentices within their own business, even though the levy would not offset the full cost of doing so.
The Apprenticeship Levy will affect all companies across all sectors with a payroll of £3million or more, meaning less than two per cent of UK employers will pay it. Read more about this story here.