2020/2021 National Living & Minimum Wage Increase
2020/2021 National Living & Minimum Wage Increase will take effect from 1st April 2020.
The increased rates were recommended by the Low Pay Commission, an independent body that advises the government about the National Living Wage and the National Minimum Wage.
The National Living Wage (NLW) and National Minimum Wage (NMW) will rise across all age groups, including:
- A 6.2% increase from £8.21 to £8.72 for 25 year olds and over (NLW)
- A 6.5% increase from £7.70 to £8.20 for 21-24 year olds (NMW)
- A 4.9% increase from £6.15 to £6.45 for 18-20 year olds (NMW)
- A 4.6% increase from £4.35 to £4.55 for Under 18s (NMW)
- A 6.4% increase from £3.90 to £4.15 for Apprentices (NMW)
Do you need help with your Payroll?
We use Capium payroll software and can offer processing of weekly or monthly payroll. We ensure all Real Time Information (RTI) filing is complied with. We can produce electronic payslips, payroll summary and Employer P30. We will process starters, leavers and all P6/P9 notifications. We will carry out all year-end filing and provide employee P60s. We can also complete annual P11D returns for all your employees.
The Pension Reform legislation impacts all employers, who will have to offer a workplace pension scheme and automatically enrol eligible workers into it (auto-enrolment). We can help you assess your employees, set up your pension provider and process contributions through payroll.
To arrange your FREE initial consultation please either contact us directly on 01524 784324 or complete and submit our on-line form .
– Your first consultation is FREE and we will offer as much advice as we can.
– You will receive a competitive quote, normally provided at the meeting for your consideration.
– We understand how busy life is, particularly if you are running a business. We are happy to come to you, at a time that suits you – including evenings and weekends or visit us to see our set up, it’s entirely your choice.
– The meeting is completely without obligation and if you already have an accountant and you are looking for a change, then it is a very simple process. All we require is a letter from you and we will take care of the rest.
Source: Gov.uk
