National Minimum Wage 2024/25. Since 1 april 2024, workers who are 21 or older must be paid at least the national living wage. Although the top level of minimum wage is now known as the national living wage, it still doesn't match the actual cost of living.
The 2023/24 tax year ends on 5th april 2024. The rate system has changed slightly this year, with the national living wage now applying to everyone aged 21 and over, compared to the 2023/24 nmw rates where nlw applied to those aged 23 and over, and those aged 21 to 22 had their own range.
The 2023/24 Tax Year Ends On 5Th April 2024.
There are also changes to the national minimum wage for those aged 20 and under, and apprentices:
From 6Th April 2024, The Following Changes Will Come Into Effect:
New 2024/25 rates 14 march 2024 as confirmed late last year, the government has accepted the low pay commission’s (lpc) recommendations on the raising of both national minimum wage (nmw) and the national living wage (nlw) rates, which will take effect from 1 april 2024.
The Rate System Has Changed Slightly This Year, With The National Living Wage Now Applying To Everyone Aged 21 And Over, Compared To The 2023/24 Nmw Rates Where Nlw Applied To Those Aged 23 And Over, And Those Aged 21 To 22 Had Their Own Range.
Images References :
Apprentices And The National Minimum Wage.
National minimum wage calculator for workers.
You Can Download The File To Open It With Your Own.
The 2024/25 tax year will then run from 6th april 2024 to 5th april 2025.
Optimising Your Director’s Salary To Qualify For The State Pension.
