Just to remind you all that the national minimum wage and national living wage will increase in April, please check you are paying your employees the correct amounts. The new rates are as follows:
| Year | 25 and over | 21 to 24 | 18 to 20 | Under 18 | Apprentice |
| October 2016 (current rate) | £7.20 | £6.95 | £5.55 | £4.00 | £3.40 |
| April 2017 | £7.50 | £7.05 | £5.60 | £4.05 | £3.50 |
The link below gives further information about the national minimum wage and the national living wage and how it can affect you:
The budget introduced the following changes that may affect your business from 6th April 2025:...
Employers National Insurance
The threshold at which payments start is reduced from £9,100 to £5,000 per year.
The rate increases from 13.8% to 15%.
Employment allowance
Increases from £5,000 to £10,500
We can readily calculate your increased liability for 25/26. Please do not hesitate to contact us.
Any business that process PAYE payroll and meets any of the following criteria can claim employment allowance:
At least one employee earning above the NI contribution threshold (£6,396)
At least two company directors on payroll earning above the NI contribution threshold (£6,396).
Currently, total employers NI is less than £100,000 per year, but for 2025/26 tax year this restriction is being lifted so most companies will meet the criteria. For full details:
https://www.fsb.org.uk/resources-page/what-is-the-employment-allowance-and-am-i-eligible.html
Minimum Wage
Increases from £11.44 per hour to £12.21 if over 21 years old. (6.7%)
Other categories can be found at:
https://www.gov.uk/national-minimum-wage-rates
All information is summarised and is supplied for guidance only. Please see links for more...
