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It’s no secret that the entire population of the UK is subject to some contribution increases when the new tax year hits us on April 6th 2022. We wanted to get comprehensive information to you ahead of time so that you know what to expect as an umbrella employee.
The countdown is on to an increase in National Minimum Wage and National Living Wage. Effective April 6th 2022 the following will be true:
Age | Current | Effective April 6th 2022 | Increase |
18 to 21 years | £6.56/hr | £6.83/hr | £0.27/hr |
21 to 23 years | £8.36/hr | £9.18/hr | £0.82/hr |
23 and over | £8.91/hr | £9.50/hr | £0.59/hr |
This marks an increase of 6.6% for anyone aged 23 or older and a formidable 9.8% increase if you’re aged between 21 and 23 years.
This could of course impact the figures on your pay slip post April 6th, if you have any questions or concerns regarding please don’t hesitate to contact us.
There are other important changes that may affect your pay in the new tax year, find out more about National Insurance Contribution Increases or how Your 2nd Payment Of The New Tax Year may be affected.
Andrew is the marketing & web developer of Umbrella Contracts.
He helps grow the business while educating people on the inner workings of the Umbrella world.
We have been providing comprehensive umbrella payroll services for contractors and agency workers for over a decade.
