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PH NEWS

NATIONAL MINIMUM WAGES CHANGES

On the 1st April 2018, the National Minimum Wage (NMW) and National Living Wage rates are due to change.

The hourly rate for the minimum wage depends on your age and whether you are an apprentice.

You must be at least school leaving age to receive the minimum wage. If you are aged 21 to 24, NMW is currently £7.05, this will increase to £7.38 per hour from 1st April 2018. If you are aged 25 and above, the national minimum wage will apply. Currently this is £7.50 and will increase to £7.83 per hour from 1st April 2018.Different rates apply to employees aged 20 and under, and apprentices.

The current minimum contributions for automatic enrolment pensions are: Employer 1% and employee 1%. This will change with effect from 6thApril 2018 to Employer 2% and Employee 3%. This will affect you if you have chosen to apply phased contributions (the minimum contributions set by law)

Please call us on 01227 277667 for further information.

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MPH Accountants

We offer a friendly and professional service to our clients. Our client base is wide and varied ranging from small one-man bands to large limited companies, and our business principle is the same in that each client, no matter what size, has their own individual requirements.

Whitstable - 01227 277 667
Thanet - 01843 230 256
Email: admin@mphaccountants.co.uk