London NLW and NMW tax advice

Reminder: NLW and NMW Rates Are Increasing

UK employers, payroll teams, and employees who need to understand upcoming changes to the National Living Wage (NLW) and National Minimum Wage (NMW).

Highlights the increases effective from 1 April 2024, ensuring payroll compliance and helping employees anticipate changes to their earnings.

Correct wage adjustments prevent underpayment, fines, and potential director disqualification.

National Living Wage Increase

  • The NLW rate will increase to £11.44 per hour, up from £10.42.
  • Annual earnings for a full-time worker on NLW could rise by up to £1,800.
  • Eligibility for NLW will extend to 21 and 22 year olds, previously only for 23+.

National Minimum Wage Rates from 1 April 2024

  • Ages 18–20: £8.60 per hour – increase of £1.11
  • Ages 16–17: £6.40 per hour – increase of £1.12
  • Apprentice rate: £6.40 per hour – increase of £1.12

Real-World Application

  • Employers can budget for payroll adjustments for 21–23+ year-old staff.
  • Payroll teams can update systems in advance to reflect April 2024 rates.
  • Employees can plan personal finances with the increased wages in mind and consult a AI accounting firm Wimbledon if needed.
 

Stay Ahead of NLW and NMW Rate Increases with Cigma Accounting

Keeping up with National Living Wage (NLW) and National Minimum Wage (NMW) increases is essential to avoid non-compliance and unexpected payroll issues. Cigma Accounting supports businesses across Farringdon, Barbican, and Holborn in applying updated wage rates accurately with the expertise of a trusted payroll services London provider.

Whether you are adjusting pay scales or reviewing payroll systems, professional guidance ensures compliance while optimising workforce management. Cigma Accounting provides tailored support for businesses in London, with physical offices across London, delivering reliable assistance from a dedicated accounting services London team.

Reminder: National Minimum & Living Wage Rates Are Rising

NLW and NMW rates are set to increase, affecting payroll costs and compliance obligations. Our advisers help employers implement the new rates correctly, update payroll systems, and avoid penalties from HMRC.

Get Advice on Updating NLW and NMW Rates

Trusted guidance from London-based accountants, focused on accuracy, clarity, and compliance. 


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CIGMA Accounting
CIGMA Accounting Ltd is a forward-thinking accounting and tax firm based in London, dedicated to delivering high-quality compliance, tax planning, and business advisory services to entrepreneurs, landlords, and growing SMEs. With offices in Wimbledon and Farringdon, we combine local expertise with a tech-driven approach to simplify accounting. Our services include corporation tax filing, VAT compliance, HMRC investigation support, R&D tax credit claims, capital allowances optimisation, and bookkeeping automation. What sets CIGMA apart is our ability to blend traditional accounting rigour with AI-powered systems that reduce errors, save time, and provide real-time financial insights. Our team ensures that every client - from startups to high-net-worth individuals - receives a bespoke solution aligned with their growth goals. Whether you need strategic tax planning, help with HMRC disclosures, or a full outsourced finance function, CIGMA Accounting delivers clarity, compliance, and confidence.
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CIGMA Accounting offices are at three places across London — Wimbledon, Farringdon, and Fulham.

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