Budget Update

A concise summary of the tax and non-tax measures announced in the Spring Budget.

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Minimum wage rates from 1 April 2020

The government has announced a 6.2% increase in the National Living Wage (NLW), which applies to workers aged 25 and over. From 1 April 2020 the NLW will rise from the current rate of £8.21 to £8.72 an hour. This is the largest raise since it’s introduction two decades ago.

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Christmas Gifts For Staff – Tax Implications?

Making sure gifts to employees are tax-free

Some employers may wish to give a small gift to their employees. As long as the employer meets the relevant conditions, no tax charge will arise on the employee.

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