The rates of the National Living Wage (NLW) and National Minimum Wage (NMW) will come into force from April 2023. The rates which will apply from 1 April 2023 are as follows: Rate from April 2023 Annual increase (£) Annual increase (per cent) National Living Wage £10.42 0.92 9.7 21-22 Year Old Rate £10.18 1.00...

The government has just announced the national living wage (NLW) and national minimum wage (NMW) rates which will come into force from April 2021. What are they? The NLW will increase by 2.2% from £8.72 to £8.91 per hour. For the first time it will cover those aged 23 and 24. Here are the rates...

The government published guidance late last night on the operation of the Job Retention Scheme. We have had many enquiries in relation to this matter and hopefully the following information will answer the majority of these queries. Recap of the Basics Employers can claim 80% of furloughed worker’s usual wage costs up to £2,500 per...

The government has announced a big increase in the national living wage and national minimum wage rates for 2020/21. What are they and when do they take effect? The government has announced the national living wage (NLW) and the four national minimum wage (NMW) rates which will take effect on 1st April 2020. You should...

Discussing how the new National Living Wage will affect employers By Alan Simpson, Associate As you’ll  no doubt be aware, the National Living Wage was introduced on the 1st April 2016 for all working people aged 25 and over at a rate of £7.20 per hour. All workers aged 25 or over and not in...

by Kevin D. Ferguson BA CA, Partner , JRW Chartered Accountants   In this month’s article we provide a summary of the key tax points from the Summer Budget. We have mainly concentrated on the tax measures that will directly affect individuals, employers and small businesses in 2016 and 2017. Tax rates and the personal...