Minimum wage is set to increase on 1st April as follows;
Aged 25+ National living wage £7.83 ph
Aged 21-24 National minimum wage £7.38 ph
Aged 18-20 National minimum wage £5.90 ph
Aged 16-17 National minimum wage £4.20 ph
Apprentice National minimum wage £3.70 ph
With increases between 3.7 and 5.7%, it’s important to review your business sales price and profit margin.
If you would like a business review, including a profit and cash flow forecast, please contact Kayleigh@darceyandbateaccountants.co.uk