How the Autumn Budget 2024 Impacts Employers
Today, the Chancellor of the Exchequer delivered the new Government’s long-awaited Autumn Budget, highlighting how the Autumn Budget 2024 impacts employers through key changes in public finances related to employment. With the recent Employment Rights Bill already setting the stage for new employment law changes, this Budget focused on public spending policies that will directly […]
The Autumn Statement – November 2023
Today, the Chancellor of the Exchequer has set out his autumn statement, which includes several significant announcements relating to employment and business: There will be an increase to the statutory minimum wage rates from April 2024: a. The national living wage (NLW – the rate for workers aged 21 and above) is to increase by […]
What does the Autumn Budget mean for Employers?
We now have further clarity on the Government’s fiscal policy going into 2023 which will now enable businesses to finalise their 2023/24 budgets. The Chancellor of the Exchequer set out in the Autumn budget the following changes regarding business and managing people: The National Living Wage, which is in place for all workers over 23 […]
Salary sacrifice schemes scrapped
The 2016 Autumn Statement confirmed fears that it is the end of the road for many salary sacrifice schemes. The writing was already on the wall in the Spring Budget, with hints that the government could limit the range of tax savings benefits available through salary sacrifice schemes. And now the new Chancellor, Philip Hammond […]
Squeeze on living standards expected to worsen
Wage growth for this decade could be at its lowest since the 1900s. Many Britons could face a significant drop in living standards as they struggle to keep up with rising living costs. In his recent Autumn Statement, the Chancellor Philip Hammond’s Autumn statement revealed the UK faces a £122 billion black hole. The Resolution […]
What the Autumn Statement means for employers
With changes to national insurance thresholds to a rise in the national living wage, Philip Hammond’s Autumn Statement contained several important changes that employers need to prepare for. Rise in national living wage From April 2017, the national living wage for over-25s will rise 4.2%. This will mean an increase from £7.20 to £7.50 per […]
Apprenticeship Levy Details Announced
Chancellor George Osbourne used last week’s Autumn Budget to go into greater detail about the apprenticeship levy, which is due to come into effect in April 2017. The levy, which will be an additional payroll tax, will be set at 0.5% of UK payroll and will affect all employers with an annual wage bill of […]
