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The Chancellor Has Announced A Pay Rise For Millions!

Increases coming in April 2021 ...

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POSTED BY ROGER EDDOWES ON 03/12/2020 @ 8:00AM

Many millions of employees and workers across the United Kingdom are about to receive a raise in their pay when the National Minimum Wage and National Living Wage both increase in April 2021 ...

This is good news for low-paid workers across the United Kingdom!

This is good news for low-paid workers across the United Kingdom!

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The Chancellor has confirmed in his recent Spending Review that there will be a 2.2% increase to the National Living Wage, up to £8.91 per hour which equates to an extra £345 per year for those working full-time.

More young people will be eligible as the National Living Wage age threshold is lowered from 25 to 23:

  • National Living Wage (23+) to increase 2.2%, from £8.72 to £8.91

  • National Minimum Wage (18-20) to increase 1.7% from £6.45 to £6.56

  • National Minimum Wage (under 18) to increase 1.5% from £4.55 to £4.62

  • Apprenticeship Wage to increase 3.6% from £4.15 to £4.30

This good news means the annual earnings of someone who is in full-time employment in the National Living Wage will have gone up by over £4,000 since its introduction in April 2016.

It has been a challenging year for all of us, and I'm pleased the Government is committed to putting more money into the pockets of the lowest-paid workers in the United Kingdom.

This early announcement will give businesses across the country time to adjust, ready for April 2021.

Until next time ...

ROGER EDDOWES
Business Godparent

 
 



Would you like to know more?

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About Roger Eddowes ...

 

Roger trained at Edward Thomas Peirson & Sons in Market Harborough before working at Hartwell & Co, followed by Chancery, as a partner. He started Essendon Accounts and Tax with Helen Beaumont in 2014 as a general practitioner with a hands-on approach.

Roger loves getting his hands dirty, working with emerging, small-to-medium and family businesses to ensure they receive the best possible accountancy advice. Roger utilises an extensive network of business contacts to leverage the best guidance and practical solutions.