If you employ people in your business, then it’s essential to keep up to date with the changes to the National Living Wage and National Minimum Wage.
Below we are giving the details of the increase that will take place from April 2019, so you can plan how this will impact on your finances.
National Living Wage
Following the recommendations of the independent Low Pay Commission, the government will increase the National Living Wage by 4.9% from £7.83 to £8.21 from April 2019.
National Minimum Wage
The government will also accept all of the Low Pay Commission’s recommendations for the other National Minimum Wage rates to apply from April 2019, including increasing the rates for:
- 21 to 24-year-olds by 4.3% from £7.38 to £7.70 per hour
- 18 to 20-year-olds by 4.2% from £5.90 to £6.15 per hour
- 16 to 17-year-olds by 3.6% from £4.20 to £4.35 per hour
- apprentices by 5.4% from £3.70 to £3.90 per hour.
Many businesses now outsource their payroll and this way they can be confident that all these updates are factored in at the right time. If you would like to find out more about how we can support you with your payroll or if you want advice on the impact of these increases on your business finances then please do get in touch by calling 01623 490 120 or email