2018 Budget: A Payroll Analysis

2nd November 2018

National Minimum Wage is set to increase from April 2019:

£8.21 per hour for ages 25 and over

£7.70 per hour for ages 21 to 24

£6.15 per hour for ages 18 to 20

£4.35 per hour for ages under 18

Apprentices are increasing to £3.90 per hour

 Tax Allowances increase from April 2019:

Personal Allowance increasing to £12,500

Marriage Allowance increasing to £1,250

Basic Rate limit is increasing to £37,500

Higher Rate stays the same at £150,000

Also from April 2019 the national insurance Upper Earnings Limit will increase in-line with the personal allowance to £37,500.

It is also a good idea to remember that pension percentages will also be increasing from April 2019 to a total of 8%, with the recommended split of 5% employees and 3% employers.



 
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