Update on the rates

​Every April HMRC update their minimum wage and statutory payment rates.  Here’s a quick summary and handy reference to check you’re in-line with the latest requirements.  All rates listed apply from 7 April 2019.

The hourly rate for the minimum wage depends on your age and whether you’re an apprentice.
The National Living Wage: applies to workers aged 25 and over

• £8.21 from April 2019

The Minimum Wage: applies to workers aged 24 and under

• Under 18                                            £4.35
• Aged 18-20                                         £6.15
• Aged 21 – 24                                      £7.70

Apprentices:
Apprentices are entitled to the apprentice rate if they’re either:

• aged under 19
• aged 19 or over and in the first year of their apprenticeship
• the minimum hourly rate is £3.90

Statutory payments

• Statutory maternity pay £148.68
• Shared parental leave pay £148.68
• Paternity pay one or two weeks at £148.68
• Statutory redundancy pay capped at a maximum £525 per week, making £15,750 the largest possible statutory redundancy payment
• The maximum compensatory award for unfair dismissal increases to £86,444

PAYE tax rates and thresholds  

• Employee personal allowance  £12,500 per year
• UK basic tax rate                              20% on annual earnings above the PAYE tax threshold and up to £37,500
• UK higher tax rate                           40% on annual earnings from £37,501 to £150,000
• UK additional tax rate                    45% on annual earnings above £150,000

 
Ruth George
HR Consultant
[email protected]; 07899 920075
This is not legal advice and is provided for general information only. © Ruth George HR Consulting.