Business with 50+ employees or an annual payroll of more than R500 000 have until 30th April to submit their Workplace Skills Plan and Annual Record of Training .
These include submitting Workplace Skills Plan and Annual Record of Training to the Sector Education and Training Authority by 30th April 2024. The benefit of doing this is that a company can claim 20 percent of its Skills Development Levies through a grant from its most relevant SETA. Additionally, these submissions add 20 points to a business’ BBBEE scorecard.
The WSP and ATR also serve to help a business identify what skills need to be enhanced over the year with the ATR serving to keep a record of the training that has taken place.Failing to submit these documents can lead to penalties and a loss of BBBEE points. The latter specifically could see your business finding it harder to find business opportunities with government institutions, the public sector and even other businesses.
You’ll forfeit your mandatory grant which is 20% of your SDL spend to SARS – as well as any discretionary grants. This means losing invaluable opportunities to improve the skills of your own employees and your business competitiveness suffers as a result.