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In the biggest rise in National Minimum Wage (NMW) rates for those under 25 for a decade, new rates apply from 1 April 2018.
18-20 and 21-24 year-olds see increases of 4.7% and 5.4% respectively. There is also a 4.4% increase in the National Living Wage (NLW) for those aged 25 and over.
NMW and NLW vary depending on age and whether or not a worker is an apprentice.
*for apprentices under 19, or 19 or over and in the first year of their apprenticeship
There are no exemptions from paying NMW on the grounds of the size of the business.
Why not contact Wilkes Tranter & Co Limited today for more information or a FREE no obligation quote.
The government has delayed the introduction of Making Tax Digital (MTD) for Income Tax Self Assessment (MTD for ITSA) for a year.
From April 2022, the government plans to create a new social care levy which will see UK-wide tax and National Insurance Contribution (NIC) increases.
As always, the wellbeing of our staff and clients remains our priority and is at the forefront of our mind when considering our response to the current coronavirus situation. At present our office remains open during normal working hours however we are discouraging face to face contact and are moving to telephone/ e-mail communication wherever possible in an effort to protect ourselves and our clients.
In the absence of face to face meetings, you can contact us as follows:
Please be assured that we will be continuing to offer the best service and advice during this difficult period.
We will continue to closely monitor government advice on the situation and act accordingly.