27/03/2024
𝗔𝗿𝗲 𝘆𝗼𝘂 𝗿𝗲𝗮𝗱𝘆 𝗳𝗼𝗿 𝘁𝗵𝗲 𝗹𝗲𝗴𝗮𝗹 𝗺𝗶𝗻𝗶𝗺𝘂𝗺 𝘄𝗮𝗴𝗲 𝗶𝗻𝗰𝗿𝗲𝗮𝘀𝗲?
Back in November the government announced their plans to increase the legal minimum wage hourly rates that will come into effect next Monday, 1st April 2024. The top rate will also now apply to everyone over 21 and above (previously 23 and above).
The biggest mistake we see when it comes to minimum wage is employers overlooking those on annual salaries. It’s easier to see the hourly rate for those paid hourly but would you know the hourly equivalent for your workers paid a salary?
To read more about the increases and changes to other employment rates head to our blog post..
https://www.investmentbookkeeping.co.uk/blog/2024/3/27/new-minimum-wage-and-employment-rates-effective-1424?