From April 2016, the Government's new National Living Wage (NLW) is now law and obligates employers to pay employees aged 25 and over at least £7.20 per hour.
The NLW will run alongside the National Minimum Wage rates (NMW) of £6.70 (21 - 24) £5.30 (18-21) and £3.87 (under 18).
Confusingly, the planned updates to the NMW will occur each October (as has been the case in the past) but the NLW updates will be each April.
The payroll industry awaits with interest to see whether a statutory London Living Wage will be introduced at some stage (currently voluntary at £9.15).
Since the inception of Auto Enrolment (AE) legislation, PSC has assisted hundreds of clients through the staging process to ensure they comply with these complex obligations.
Year End Matters and Main Legislative Changes.
As in previous years, PSC can process your P11D forms on your behalf.
The National Minimum Wage (NMW) applies to nearly all workers and sets hourly rates which pay must not be allowed to fall below.