In his Summer Budget, the Chancellor George Osborne announced a significant change in the government’s policy towards apprenticeships (Financial advisor). 100310-N-4774B-112 ATLANTIC OCEAN (March 10, 2010) Quartermaster Seaman Apprentice Kimberly Ramirez, from Las Vegas, uses a slide rule to calculate chart measurements on the bridge of the guided-missile cruiser USS Bunker Hill (CG 52). Bunker Hill is underway off the coast of Argentina supporting Southern Seas 2010, a U.S. Naval Forces Southern Command Partnership of the Americas maritime engagement strategy to enhance regional stability and strengthen relationships among regional partners. (U.S. Navy photo by Mass Communication Specialist 2nd Class Daniel Barker/Released)Further details were announced in the November Spending Review.

From April 2017 firms in the UK will be subject to a compulsory apprenticeship levy. This will equate to 0.5% of a firm’s paybill though every employer will receive £15,000 allowance against the levy. In practice this means the levy will only be paid on a paybill of more than £3m.

Levy contributions can be used towards apprenticeships in England only. Money contributed by firms in Scotland, Wales and Northern Ireland will be returned to those devolved administrations via their block grant. This is because skills policy funding is devolved to the respective administrations.

(The Chartered Insurance Institute)

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If you would like to speak with one of our Independent Financial Advisors and potentially receive financial advice, please contact us on 0117 923 7652. We are based in CliftonBristol but we are happy to service clients from across the UK and we provide free initial meetings at our client’s convenience.

Churchill Wealth Management Limited is located at 13 Alma Vale Rd, Bristol BS8 2HL, United Kingdom.

About Us: Churchill Wealth Management is a team of independent financial advisors/financial advisers (IFAs) based in Clifton, Bristol. We provide independent financial advice, including pension advice, investment advice, inheritance tax planning and protection/insurance advice.