From 1 April 2020, the government has announced record increases to both National Minimum Wage and National Living Wage rates.
For employees over 25 years of age, the new NLW increases 6.2% to £8.72 per hour (currently £8.21). For those employees who are 21-24 years old, the NMW rises by 6.5% to £8.20 per hour (currently £7.70).
The changes will see a significant increase in the cost of employing your staff, affecting not only their pay, but also your auto-enrolment and Employer National Insurance Contributions
Our full Factsheet sets out the varying rates that will apply from 1 April 2020, and can be viewed online or downloaded below.