New Government legislation is being introduced in April which increases the National Living Wage (NLW) from £7.83 per hour to £8.21. The 4.9% increase will benefit approximately 2.4 million workers to the tune of £690 per annum for those aged 25 or over; similar percentage rates are also being introduced for younger workers and apprentices ensuring all those on the minimum wage will earn more.
Also, new Payslip Legislation becomes law on the 6th April and gives all workers the right to receive transparent payslips either in a printable paper or digital format.
Central to the new guidance is that payslips must illustrate the number of variable hours worked and the varying rates of pay earned for differing types of work; this initiative is of particular benefit to contingent workers who are paid a day rate irrespective of the number of hours worked.
In accordance with our commitment to all facets of compliance, Simplify both welcome and adhere to each piece of legislation and will never make payments beneath the new thresholds, or issue payslips which do not comply with the new guidelines.
To find out more about how Simplify guarantee compliance and assist our agency clients, please visit www.fundingforpayroll.co.uk or telephone 0114 478 0559.