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*COVID-19 update: Many of our shops and offices are now open for face to face meetings with strict social distancing measures in place. We also offer telephone and video consultations for all new clients in order to discuss your needs. Find the latest COVID-19 information available for your business.

Will I be better off from April 2018?

I get the National Living Wage from my employer. Will I be better off from April 2018?

We have assumed you are not a Scottish taxpayer and that you are aged 25 or over.  

National Living Wage

The National Living Wage is paid to employees aged over 25. Those aged 24 and under receive the National Minimum Wage.

The National Living Wage rises every April, and from April 2018 it rises from £7.50 to £7.83 per hour. So you will be earning more per hour.

Tax

The personal allowance is increasing from £11,500 to £11,850 from April 2018. So you may save some tax depending on your level of earnings.

National Insurance

From April, the point at which employees pay National Insurance is rising from £8,164 to £8,424. So similarly to tax, you may save some national insurance depending on your level of earnings.

Pensions

Unless you have opted out, the amount your employer deducts from your pay for your workplace pension contribution will be increasing from April 2018 from 1% to 3%. There are different ways of calculating your contributions, but many employers will only apply contributions to anything above the lower earnings threshold which is £6,032 from April 2018.

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0800 0523 555

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