McPhersons is now part of Galloways Accounting. We’re looking forward to sharing the next stage of our journey with the Galloways group, and share their vision for helping you, our clients, to have more time to enjoy the things you love.
McPhersons is now part of Galloways Accounting. We’re looking forward to sharing the next stage of our journey with the Galloways group, and share their vision for helping you, our clients, to have more time to enjoy the things you love.
November 11, 2024
We always aim to keep you up to date with significant payroll changes. Employers must pay their employees at least the NLW, for workers age 21 or over, or the NMW otherwise. Please see below details of changes to NLW and NMW levels.
From 1st April 2025 the following changes will apply:–
£12.21 per hour for workers aged 21 and over (previously £11.44)
£10.00 per hour for workers aged 18-20 (previously £8.60)
£6.40 per hour for workers under 18 excluding apprentices (previously £5.28)
£7.55 per hour for 16-17 year olds and apprentices (previously £6.40)
These changes may also increase your monthly PAYE and National Insurance payments.
It is your responsibility as the employer to ensure that you comply with these changes to the National Living and Minimum Wage.
The rate of Employers National Insurance is also rising from 13.8% to 15% from 6th April 2025. The Employment Allowance is also rising from £5,000 to £10,500 from 6th April 2025 – so Employers National Insurance is only payable once the amount due exceeds this level.
If you have any queries regarding the above, please do not hesitate to contact a member of our payroll team.
