With the new 2019-2020 tax year approaching, employers should make themselves aware of the following changes for April 2019;
National Minimum Wage and National Living Wage – Effective as of 6th April 2019
|Age||Minimum hourly rate 2018 – 2019||2019 – 2020|
|25 and over||£7.83||£8.21|
|21 – 24||£7.38||£7.70|
|18 – 20||£5.90||£6.15|
|16 – 17||£4.20||£4.35|
Effective as of 6th April 2019, Statutory Sick Pay to increase from £92.05 to the new rate of £94.25.
Statutory Maternity Pay (SMP), Statutory Paternity Pay (SPP), Shared Parental Pay (ShPP) and Statutory Adoption Pay (SAP) will increase from £145.18 to the new rate of £148.68, from 7th April 2019.
The Lower Earnings Limit will increase from £116 to £118 per week from 7th April 2019.
Statutory Cap on a week’s pay, the limit on a week’s pay for calculating the basic award for unfair dismissal and statutory redundancy payments will increase from £508 to £525.
The minimum contributions employees and employers pay into their workplace pension will also increase from 6th April 2019. The employers minimum contribution will rise to 3% and the employees minimum contribution will rise to 5%, totaling 8%.