Changes to the NMW rates – From 1st April 2024 the national minimum wage (NMW) rates are increasing, also the age bands have changed, there is no longer a band aged 21 to 22, this has now been merged into the National Living Wage, the rates are shown below.
NMW rate from 1st April 2024 Rates
National Living Wages (21 and over) £11.44
18–20-Year-Old Rate £8.60
16–17-Year-Old Rate £6.40
Apprentice Rate £6.40
These are the minimum rates of pay most employees are entitled to. You can use the minimum wage check option to check you are paying your employees the correct rates, make sure that you check your employees on a regular basis because after their birthday they could be due a higher rate of pay.
Important Dates
• 5th April 2024 – Tax year ends
• 19th April 2024 – Final submission of 2023/24 tax year deadline.
• 31st May 2024 – P60s must be distributed to employees by this date.
Sage 50 Accounts V30
Sage 50 Accounts v30 is currently being released and has a host of new features and enhancements to make life easier.
If you would like any more information on the new Sage 50 Accounts v30 and how it can help your business or need help installing it or if you would like to purchase an upgrade or need any other help, please contact us
