Legislation was laid before Parliament last week confirming that the new National Living Wage and new Minimum Wage rates will take effect from 1 April 2025.
While many businesses are feeling and have expressed concern about the increases, the sight of the legislation suggests that no reprieve is in sight.
As a reminder, the National Living Wage will increase to £12.21 from 1 April. This is a 6.7% increase and will be worth £1,400 a year to an eligible full-time worker.
The National Minimum Wage for 18-20 year olds will increase to £10.00 an hour. For an eligible full-time worker, this will work out to an extra £2,500 a year.
An impact assessment published on the same day the legislation was laid indicates that these increases will put around £1.8 billion into the pockets of workers over the next six years.
While these measures will benefit many workers, you may be concerned about the anticipated cost of this increase causing problems for your business.
If you need help costing out what the increases will cost you and advice on the potential strategies you have to manage these costs, please get in touch and we would be happy to help you!
See: https://www.gov.uk/government/news/april-pay-rise-set-to-boost-pockets-of-over-3-million-workers
From 1 May 2025, all B2B (business to business) parcels travelling from Great Britain to Northern Ireland will need to have information submitted onto the Customs Declaration Service.
The government has announced a £20 million package that will help community land trusts, housing cooperatives and other community groups to build over 2,500 new homes in the next 10 years.
