The new National Living Wage of £7.20 per hour, for employees aged 25 and over, was introduced in April 2016.
Every employer, PSC and Limited Company is required to apply changes associated with their payroll in order to comply with the latest legislation. Otherwise, they will face fines of £20,000 per employee for non-payments, unless payments are made within 2 weeks.
Nearly half of UK recruitment agencies claim that preparation for the new National Living Wage (NLW) has had an impact on their business. According to a research done by Comensura, a managed service provider for temporary work, over 75% of recruitment agencies state that temporary workers’ pay rates have increased, up to 50p, thanks to the latest NLW implementation.
If your business has been affected by this, or any other legislation change, don’t hesitate to contact us.
Centralus PLC will help you streamline a wide variety of business functions regarding payroll & tax administration, insurance and benefits for CIS, PAYE and Limited Companies to ensure effective attraction and retention of staff.
