National Minimum Wage (NMW) and National Living Wages (NLW) increased from 1 April 2022. Please see the table below for the new rates:
|21 to 22||18 to 20||16 to 17||Apprentice|
Employers should review the ages of employees to ensure they are paid the correct gross pay when carrying out your payroll procedures. At Shapcotts we check an employee’s age as part of the Payroll Bureau service we offer to clients. If you have any queries, please contact us.
For an employee working a 35-hour week that would mean £17,290 a year. With the 1.25% increase in employers NIC to 15.05% on earnings over £9,100 a year would mean £1,233 on top, the cost to the employer would be £18,523 a year before pension costs. Businesses should review prices and productivity to ensure consistent profitability.
November 1st, 2021