Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Annual allowance definition

What does Annual allowance mean? The annual allowance is the yearly cap on tax‑relieved pension saving for a UK individual across all registered pension schemes. It is defined in the Finance Act 2004 (as amended) and applies UK‑wide (England & Wales, Scotland and Northern Ireland). The standard annual allowance is £60,000 per tax year. If the individual’s total pension input amount exceeds this, the excess is taxed on the individual via the annual allowance charge. For defined contribution schemes, the pension input amount is the total contributions (employee and employer). For defined benefit schemes, it is the statutory measure of the increase in accrued...

Apprenticeship Levy (UK): calculation, payment, connected companies/charities, reporting, penalties, appeals and anti‑avoidance, with 2024 Growth and Skills Levy funding changes and dual‑system implications

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Practice notes

This Practice Note explains the apprenticeship levy in detail, describing a charge payable by certain employers and set at 0.5% of the employer’s total annual pay bill. An annual allowance of £15,000 for employers applies, meaning the levy falls due only where an organisation’s annual pay bill exceeds £3m. The apprenticeship levy is run by HMRC within the real time information (RTI) reporting system, and employers account for and pay it through the PAYE mechanism.

History of the apprenticeship levy

The apprenticeship levy has been in place, and payable, since 6 April 2017. It was brought into effect by the Finance Act 2016 (FA 2016), having first been flagged in the Summer Budget 2015. Its purpose was to significantly raise both the volume and the quality of apprenticeships in England, through the creation of an apprenticeships fund that each employer could then access to meet its own specific requirements. After the Labour party’s victory at the 2024 general election, reform of the levy featured in the King’s Speech on 17 July 2024, with the newly established Skills England asked to determine which training the replacement Growth and Skills Levy should cover...

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Web page updated on 21/05/2026

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