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National Minimum Wages April 2025
April pay rise set to boost pockets of over 3 million workers
Rises to national minimum wage confirmed
As expected legislation went before Parliament last week. It confirmed the new National Living Wage and new Minimum Wage rates will take effect from 1 April 2025.
As a reminder, the National Living Wage will increase to £12.21 from 1 April. This is a 6.7% increase and will be worth £1,400 a year to an eligible full-time worker.
The National Minimum Wage for 18-20 year olds will increase to £10.00 an hour. For an eligible full-time worker, this will work out to an extra £2,500 a year.
An impact assessment published on the same day the legislation was laid indicates that these increases will put around £1.8 billion into the pockets of workers over the next six years.
While these measures will benefit many workers, you may be concerned about the anticipated cost of this increase causing problems for your business.
If you need help costing out what the increases will cost you and advice on the potential strategies you have to manage the increases, please contact us.
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Do you need some help or advice?
This Book a Call – is designed to help you “The Owner” in whatever context you are the owner to review and plan your finances.
Do you feel like “The Budget.. ” is all far too complicated and you are to busy to deal with it?
All to often business owners say, “….if only I had known.” or ” ….I could have done this or that?”
Yes, that is why you need to Book a Call.
The call will be done with a Qualified Accountant, who will have reviewed your affairs before the call.
You will need to be open and frank and the discussions will be documented for future reference.
We want all of our clients to succeed and prosper so we are putting time and resources aside to help.
Help us help you and your business by getting in touch.
This service is only available to our current clients.
If you have a package that includes planning this is a free service, if you don’t have a package don’t worry – we are offering this at a simple low price to ensure you get not only value for money but peace of mind that you have considered all the options and checked everything.
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Registered Office: The Old Post Office, 19 Banbury Road, Kidlington, Oxford OX51AQ
Call us: 01865 842 266