The Chancellor has announced her Autumn Statement, some key points below:
- The National Living Wage will increase from £11.44 to £12.21 an hour from April 2025.
- The National Minimum Wage for 18 to 20-year-olds will also rise from £8.60 to £10.00 an hour.
- Employers' National Insurance contributions will rise from 13.8% to 15%.
- The Secondary Threshold, the level at which employers start paying national insurance on each employee’s salary, will be reduced from £9,100 per year to £5,000.
- The Employment Allowance will rise from £5,000 to £10,500.
- The 5p cut in fuel duty was kept for another year.
For further information please select the following link: Autumn Budget 2024 - GOV.UK