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Upcoming Payroll Changes

9th March 2018

NATIONAL MINIMUM WAGE & NATIONAL LIVING WAGE CHANGES – EFFECTIVE 1st APRIL 2018

 

The National Minimum Wage and the National Living Wage changes will come into effect from 1st April 2018.

Please see the following table – which gives a comparison of the current rates and the rates effective from the beginning of April 2018:

 

Age Group

Apr-17

Apr-18

Increase

National Living Wage (25+)

£7.50 p.h.

£7.83 p.h.

33p/4.4%

National Minimum Wage (21-24)

£7.05 p.h.

£7.38 p.h.

33p/4.7%

National Minimum Wage (18-20)

£5.60 p.h.

£5.90 p.h.

30p/5.4%

National Minimum Wage (16-17)

£4.05 p.h.

£4.20 p.h.

15p/3.7%

Apprentice - National Minimum Wage

£3.50 p.h.

£3.70 p.h.

20p/5.7%

 

Please see the following government link for more information on these rates:

https://www.gov.uk/national-minimum-wage-rates

 

 

AUTO ENROLMENT PERCENTAGE CHANGES – EFFECTIVE 6th APRIL 2018

 

Additionally the Auto Enrolment employer and employee contribution rates are changing – please see the following table:

 

Date

Employer minimum contribution

Employee minimum contribution

Total minimum contribution

Before April 5 2018

1%

1%

2%

April 6 2018 – April 5 2019

2%

3%

5%

April 6 2019 onwards

3%

5%

8%

 

Please see the following pension regulator link for more information on these rates:

http://www.thepensionsregulator.gov.uk/en/employers/phasing-increase-of-automatic-enrolment-contribution

 

 

If you are a registered member (free to subscribe) of Quay Accounts website you will have access to many extra pages of useful information.

 

Please see the following Quay Accounts page link for lots of useful information regarding the  National Minimum Wage & National Living Wage.

 

 

 

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