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Recent and upcoming wages and pensions changes

National Minimum Wage Rises from 1 April 2019

The NMW wage changed on 1 April 2019 and is shown below.

Minimum Pension Contributions Increase

From 6 April 2019 the employer and employee minimum pension contributions have also increased.
They are 5% of qualifying earnings for employees and 3% for employers. See table below.

Tax/NI Efficient Director Salaries

From 6 April 2019 the optimum director salary is £719 per month (was £702) and weekly is £165 (was £162)

 

If you’d like to know how we can help you with this, or with anything else, feel free to phone 01942 734455 or email me at pb@hca.org.uk

Paul has been engaged in the accounting profession since 1988 after leaving the University of Manchester with a BSc (Hons) in Computer Science & Accounting. He qualified with Price Waterhouse Coopers in 1991. After a successful period in industry and a spell working in a local firm of Chartered Accountants, Paul decided to go it alone and established Haywards in 1994. In his spare time, Paul enjoys going to the gym, running, learning guitar and tormenting his Jack Russell, Arnie. Along with his daughter, Paul is also a keen, but distressed, Wigan Athletic fan.

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