On the 1st April 16 Girlfridayz wrote a blog post pertaining to the New Living Wage an employer must pay as a minimum to it workforce.
Well it is truly out with the old in with the new here an update coming to effect as of today 1st/04/17
National Living Wage
For workers aged 25 yrs old and over an increase of 0.30p to their current wage if they are paid the National Living Wage now £7.50 per hour
For worker 21 to 24 years old £7.05 per hour, and 18 -20 yrs old £5.60 per hour, however, under 18 yrs old £4.05 per hour and apprentices £3.50 per hour.
Apprentices are workers who learn a job within an organisation and sometimes still studies 1 to 2 days a week or more. Apprenticeship is good and it build experience in a trade for people.
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
Example: Apprentice aged 22 in the first year of their apprenticeship is entitled to a minimum hourly rate of £3.50
Apprentices are entitled to the minimum wage for their age if they both:
are aged 19 or over
have completed the first year of their apprenticeship
Example: Apprentice aged 22 who has completed the first year of their apprenticeship is entitled to a minimum hourly rate of £7.05
Other Update which will affect people who live in the UK
Pre-payment meter cap
If you pay your gas by top up card, key through your smart mobile phone there will be a limited amount you can pay to energy suppliers as OFGEM is introducing a limit to the amount of money energy suppliers can charge a domestic prepayment meter customer. The cap will be updated in April and October each year until 2020.
Council tax rising by 5% and that for almost all council in the UK - so check your council to see if it is taking part.
Statutory family-related pay
Girlfridayz sometimes last year wrote a blog post about maternity leave, pension it in my blog somewhere amongst many useful informative post.
The rate for maternity, paternity shared parental and adoption pay is increasing to £140.98 per week.
Statutory sick pay
The rate for statutory sick pay is increasing to £89.35 per week.
A new £2,000 tax-free childcare scheme is being introduced, which will mean that the government contributes 0.20p for every 0.80p that parents spend on care costs, up to a maximum of £2,000 a year per child aged under 12. This rises to £4,000 for a child with a disability under 17.
Child Tax Credit
From the 6th/04/17 the child element of child tax credit will no longer be paid to any third or subsequent children born on or after 6th/04/17, however children born before 6th/04/17 there is no change to their entitlement.
Exceptions to the new rule
if you have
multiple birth eg: twin or triplet or may quadruplet
You caring for a child or children who will be otherwise look after by the local authority eg: Fostering
Your child become a parent,
You adopting a child from the local authority
A child was conceived as a result of non-consensual sex
Statutory redundancy pay rates are increasing to £489 per week. This applies to employees with two years’ service and is based on pay and length of employment.
Water bills are due to increase by 2% and prescription charges by 0.20p — The TV Licence for watching rubbish on TV and for those of you who do not watch TV and are made to pay that yearly fee for not watching it or you can face a stretch in prison and still pay it on your release is increasing to £147 per year.
Housing benefits for 18-21 year-old will be scrapped entirely which mean young people of this ages unless they are working in a permanent job to pay the rent on their flat or shared housing, they would have to remain in their parent house until they are aged 22 years-old.
Only 100% electric cars will now be exempt from road tax, with some low-emission cars being removed from the exemption bracket.