Insights

Increase in National Living Wage

“The NLW currently stands at £10.42 per hour, and the promised increase will take it to £11.44 per hour in April 2024!”

This means that a full-time worker on the NLW will see their annual salary rise from around £10,500 to nearly £21,000. This is a significant jump and will have a very positive impact on the lives of millions of workers across the country.

But the increase in the NLW is not the only positive change announced by Chancellor Hunt. For the first time, eligibility for the NLW will be extended to 21-year-olds, who will now receive a 12.4% increase, from £10.18 to £11.44 per hour. This is a significant step towards bridging the gap between the NLW and the National Minimum Wage (NMW), which currently stands at £8.91 per hour for workers aged 23 and over.

The increase in the NLW is also a reflection of the UK’s economic growth and recovery from the COVID-19 pandemic. Despite the challenges faced by the country in the past year, the government’s commitment to supporting workers and promoting fair pay has remained steadfast.

This increase in the National Living Wage will not only benefit workers, but also contribute to the overall economic growth of the country. With more money in their pockets, workers will have more disposable income to spend, boosting consumer spending and stimulating the economy.

But there are also concerns about the potential impact of the NLW increase on businesses, particularly small and medium-sized enterprises (SMEs). The increase could be challenging for some small businesses to absorb. I believe the Government must ensure that appropriate support and guidance are provided to businesses to help them adjust.

However, millions of workers will soon benefit from this historic change, and that can only be a good thing overall.

Read more from this issue...

Employee Spotlight

Employee spotlight – Daniel Bradnam

What does a typical day for Dan look like?  A typical day for me would include either reviewing or working on Accounts, Corporation Tax Returns, VAT Returns, Bookkeeping and helping others in the office.  A couple of days during the week I bring in my trusty helper Sancho the cockapoo into the office! What do

Continue reading…
From the Business Godparent

Together We Can Make 2024 A Great Year

2023 was a challenging year for most people, and by the looks of it, 2024 is not going to be much better.

Continue reading…
Insights

Labour Expense and Recruitment Issues Leave Employers Struggling

The Quarterly Recruitment Outlook (QRO) is a survey of 5000 UK firms of various sizes and operating in multiple sectors.

Continue reading…
Insights

Is The UK Drowning in Data and Decisions?

With software available that can gather data on all aspects of business performance, it’s no surprise that people are feeling overwhelmed and sometimes underqualified to make business decisions.

Continue reading…
Issue 19 - Winter 2024

22/23 Tax Return Trees Planted Total

Our final donation to The National Trust ‘Plant A Tree Fund’ for this tax year brings us up to a total of 645 trees! That’s one tree for every tax return we have filed. We are committed to making our world a greener place, and this is just one of the ways we can do

Continue reading…
Red Sofa Interviews

Caroline Kendhammer on The Red Sofa

Caroline talks about how you can maximising the value of your website as part of your marketing.

Continue reading…
Sponsorship

JAM Sponsorship Roundup!

Here’s what JAM had to say about our sponsorship…

Continue reading…