National Wage Increase April 2020
The government has announced that the national living wage will increase by 6.2% in April. Nearly 3 million workers will benefit from the increase with low paid workers seeing their wages grow by 8% above inflation between April 2015 and April 2018.
The chancellor has also announced his plan to expand the National Living Wage to cover workers aged 23 and over from April 2021 and to those aged 21 within 5 years.
As of 1st April 2020 the new rates will be as follows:
|
Now |
From April 2020 |
|
| 25 and over |
£8.21 |
£8.72 |
National Living Wage |
| 21 to 24 |
£7.79 |
£8.20 |
|
| 18 to 20 |
£6.15 |
£6.45 |
|
| Under 18 |
£4.35 |
£4.55 |
|
| Apprentices* |
£3.90 |
£4.15 |
|
|
*more information on apprentices wages will be released soon.
You must be school leaving age, see the government guide lines on
school leaving age, to get the National Minimum wage and aged 25 or over to get the National Living Wage.
The government website will help you work out minimum wages for different types of work if your employees are not paid by the hour.
Click here for more information.
There is also the Real Living Wage, and Living London wage,
find out more here.
Haines Watts
If you struggle with payroll processing and filing then please give us a call. We can offer bespoke payroll and bookkeeping services to suit your needs.
Find out more about our payroll service by visiting our
payroll page here or give us a call on 01379 640555 to discuss how we can help you with your payroll function ensuring you pay the correct salary and wages on time and accurately.
