ACCOUNTANCY AND FINANCE

Payroll and benefits – what you need to know

Employing people for the first time  As a new employer there are a number of obligations you must adhere to and others that are desirable.  Below are the main obligations and some guidance on areas to focus on. Pay the national minimum wage (NMW) From 1 April 2018 the NMW increases to the following rates: Age Hourly rate 16 – 17 years £4.20 18 – 20 years £5.90 21 - 24 years £7.38 25+ years £7.83 There is also a rate for apprentices of £3.30 per hour for those aged 16 to 18 or 19 and over in their first year, thereafter ... Read More